Strategic Planning

Preparing a Strategic Plan

When your company grows to a medium size, you will need to plan further ahead than just the one year covered by a Business Plan. This is termed Strategic Planning and includes the following common elements:

Background of Company
Aims of Company
Mission Statement
Review of Strategy
Customer Analysis
Internal Analysis
External Analysis
Technology, Government, Economic issues

Sustainable competitive advantages:
Growth Opportunities

From that analysis, longer term (3-5 years) strategies can be developed. These are presented in the form:
Strategies

Example
Strategy 1

Objective: to gain $1,000,000 in sales to USA
Action:
• have a stand at the Los Angeles Trade Fair
• visit major prospects
• carry out a major direct marketing campaign
Timing: June - August, 2007
Responsibility: Tom & Jan
Estimated cost: $100,000

The list of strategies should be reviewed each year to see which have been successfully accomplished, which can be discarded and what new strategies are needed.


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