Instead, strategic planning experts use many names for the different sections of a strategic plan. For example, phrases like “delivering a wonderful experience” could apply to many industries. Every KPI must have some sort of measure. Stockmal also says performance indicators cannot focus on only one thing at the detriment of another. Next, you have to determine how to get there, via a few different objectives that support each goal. Strategic planning terminology is not standardized throughout the industry, and this can lead to confusion. The application of strategic planning in business is a result of difficult managerial decisions that comprise good and less desirable courses of action. Be wary of cutting and pasting either from plans from past years or from other similar organizations. Goals should be precise and concise statements, not long narratives. A financial plan can help you set your priorities. In order to know if you are reaching the goals you outline in your strategic plan, you need performance indicators. Developing a Strategic Plan and Organizational Structure, 15. The key is to include what is important to you. Communicating your strategic plan. It’s imperative to make sure the mission statement accurately fits the organization. Soon to be by Smartsheet. One tip: Try to avoid jargon and generic terms; for example, words like maximize and succeed lose their punch. Strategic planning is often continuous for nonprofits. Do your competitors attract your target customers, or do you have a niche that sets you apart? Download Strategic Plan Sections Checklist. It is a structured approach to establishing an organizationâs direction and to anticipating the future. They are often near the top of your plan’s hierarchy. The CEO naturally assumes a prominent role on the planning team, setting the vision, driving that vision, and enforcing results. “You need to make sure someone is good, so there needs to be a vetting process,” he says. When you finish your departmental plan, make sure to submit it to whomever is responsible for your company’s overall plan. A marketing plan describes how you attract prospects and convert them into customers. VMOSA is a practical planning process that can be used by any community organization or initiative. Values describe the behaviors you really want to advance,” McNerney says. A strategy plan, more commonly known as a strategic plan, is a list of strategic goals together with an action plan to achieve each goal. How are matters inside your company? For a nonprofit, the strategic plan’s purpose is mainly how to best advance the mission. fnhc.ca. What some people call an objective, others would call a KPI.” They key, she explains, is to decide what the terms mean in your organization, explain the definitions to key stakeholders, and stick to those definitions. Use the goal example from earlier: Increase total revenue by 5 percent in three product areas by the third quarter of 2020. No matter what terms you use, the general idea of a strategic plan is the same. Every organization is slightly different.”. You can also create a strategic plan to help guide both your professional and personal life. A tactic is a specific activity or project that achieves the strategy, which, in turn, helps achieve the objective. If not, you may need to hire personnel. “It’s the reason you exist or what you do.”. It should encourage and inspire employees while setting your company’s direction. In this section, also include your SWOT (strengths, weaknesses, opportunities, and threats) analysis. That said, make the effort to edit and refine your mission statement. Your values should align with your vision statement and highlight your strengths while mitigating weaknesses. The Community Tool Box is a service of the. 5. Remember, the statements can change as the environment in and around your company changes. Some planning specialists use the term strategic objectives or strategic priorities when referring to goals, but for clarity, this article will use the term goals. Identify Your Strategic Position. Assign people who will be responsible for certain tasks and tactics necessary to achieve your goals. “Not everyone has a vision statement,” McNerney says. If something does not fit within your personal mission, you shouldn’t do it. “You need to have flexibility both on the plan content and in the process.”.