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The Strategic Planning Process

The Strategic Planning Process. Chapter 16. Strategic Plan. A structured but flexible document that concisely states what the corporation wishes to achieve and how it plans to reach this goal. Strategic Planning. Preface Executive Summary Competitive and Environmental Assessment

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The Strategic Planning Process

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  1. The Strategic Planning Process Chapter 16

  2. Strategic Plan • A structured but flexible document that concisely states what the corporation wishes to achieve and how it plans to reach this goal.

  3. Strategic Planning • Preface • Executive Summary • Competitive and Environmental Assessment • Mission Statement • Goals and Objectives • Strategies and Tactics • Driving Forces

  4. Strategic Planning • Recommendations • Visions • Slogans • Issues • Measurements and Results • Budget • Appendices

  5. Preface • Introductory statement that briefly delineates what the document is all about or what to expect in the document.

  6. The Executive Summary • This is the key to presenting, communicating, and convincing those you need for support to listen and to read on. • The summary should articulate your mission statement, goals and objectives, strategies and tactics, as well as state the recommendations.

  7. Competitive and Environmental Assessment • Provides a realistic assessment of the your strengths, weaknesses, opportunities, and threats (SWOT analysis) and then takes a close look at the competition.

  8. Strength • An asset or a resource which can be used to improve the competitive situation. • Examples: • Quality • Location • Pricing

  9. Weakness • A lack of a resource or capability that may cause you to have a less competitive position which can adversely affect your business.

  10. Opportunities • Developed from your strengths or set of positive circumstances that can create a favorable situation.

  11. Threats • Problems that focus on your weaknesses and that can make for a potentially negative situation.

  12. The Mission Statement • A concise narrative statement summarizing your objectives and ultimate goals. • Provides a clear direction. • Basis for communication. • Asserts a philosophy for doing business. • Basis for evaluating your performance.

  13. Goals and Objectives • Goals are both qualitative and quantitative. • Objectives • What needs to be accomplished during the time frame of a plan • Must be specific • Measurable in a quantifiable manner • Relate to a specific time period • Focus on affecting the behavior of your market

  14. Strategies and Tactics • Strategies are simple action plan statements that detail how the plan objectives will be achieved.

  15. Strategies and Tactics • Tactics • Specific items or steps needed to implement the strategies.

  16. Recommendations • For both a short term and long term perspective. • Related to the objectives from the goals and objective section.

  17. The Vision • A statement which vividly describes the desired outcome of the overall strategic plan. • May also present alternative scenarios for its future while providing both direction and purpose for the interim strategies and activities.

  18. The Slogan • Helps build identity and can convey a position in the marketplace. • Becomes a rallying point in which everyone can identify with.

  19. Issues • Issues will surface during the development of a strategic marketing plan. • Collect issues and discuss them at the end of the plan document. • Addressing the issues at the end of the plan enables the plans to be put into perspective.

  20. Measurements and Results • To be successful, all activities in the plan must be measurable. • Achieved in two ways: • Results are specific and quantifiable. • Results are tied into key dates, milestones, or timetables. • Qualitative results can be measured by: • Polls • Image assessments • Opinion surveys

  21. Measurements and Results • Specifying these expectations is critical in determining which goals are being achieved, and as a result, whether strategies need to be modified.

  22. Budget and Planning • Determine the plan’s priorities and the cost associated with their execution. • Weigh what needs to be accomplished with what is affordable. • Numerous scenarios or options may be selected, and each may be inter-linked with existing and new marketing strategies.

  23. Appendices • Relevant statistical data and research findings. • Help ensure that the document will remain an action document. • What is included: • Contacts list for research information • Potential acquisitions • New product development schedules

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