Strategic plan for XYZ Company

I am currently developing a strategic plan for XYZ Business.

The strategic plan’s major goal is to improve and double the performance of various units during the next year in accordance with the organization’s purpose and vision statements.

To be able to execute this properly and to the appropriate standard

I will first examine the present internal and external elements to acquire insight into what has to be adjusted and how best to go about it. Analysis also of various internal and external is important because it will enable to pin point what the current shortcomings are and what really needs to be adjusted (Wittmann & Reuter, 2008).

The second step will be formulating the strategy

This stage involves comprehensive documentation of the components of the strategy, detailing what steps to take in every identified action plan. At this stage, I will also need to come up with strategies that are realistic and goal oriented. This is necessary because it will act like a roadmap towards accomplishing a particular task. This stage is very crucial because it can make or break the whole strategy, and as such, I will need to spend quite some time coming up with strategies that reflect the organization’s mission and vision statements, and which are in line with the set goals.

Thirdly, I will work on the execution strategy

where I will break down the strategies into small actionable activities, specifying all the necessary steps. This stage is also very important because it determines whether the strategy meets the goals or not.

Lastly, is about evaluating the strategy

looking into whether the strategy met the goals or not as well as its sustainability.

Conclusion

Basically, strategic planning is about aligning an organization’s resources, efforts and concentration to a particular set goal with specific action plans that must be followed to attain the goal.

Reference

Wittmann, R. G., & Reuter, M. P. (2008). Strategic planning: How to deliver maximum value through effective business strategy. Philadelphia: Kogan Page Ltd.