From Vision to Long Term Strategy
In the early planning stages, an organization needs to agree on its company purpose, its vision for the future, and the core values that will guide its actions.
Next, it has to undertake a complete situation and internal analysis to find a viable strategy that will leverage its core competencies, while also being compatible and aligned with the organization’s vision and values. This comprehensive assessment should detail target customers; markets to be served; key processes to be used; and competitive advantages that can be built into the strategy. Remember, your goal is to develop a strategy that creates a unique strategic position for your business.
Next, your strategy will lay out your actual course of action as well as the tools of measurement you will use to gauge success. It is in the development of this action plan that your operational processes must be carefully considered.
If I may share my “wisdom” with you, your 3-5 year strategic plan should be viewed as a process, and not merely a project. The more effectively you can craft your plan as a series of cause and effect relationships, the more effective it is likely to be. It is at this point that you will want to examine and consider any possible road bumps you might be likely to experience.