Strategic Planning is a process of developing a strategy and deciding to allocate relevant resources to pursue this strategy. While the term "strategy" has various definitions, it generally focuses on setting goals, choosing relevant actions to achieve the goals, and mobilizing resources to take respective activities. A strategy describes how the ends (goals) will be achieved through the means (resources) allocated.
Strategic Planning in an organizations covers intensive discussions with and information collection from the management and personnel regarding the competitive development of the organization in question. Strategic Plans and Business Plans mostly differ in their generalization level. Thus, Strategic Plans present the goals, objectives and development directions in general, without any details and without any detailed financial plan, etc. AM Partners offers the quite standard Strategic Plans content below:
- Overview of strategic planning or "VMOSA" (vision, mission, objectives, strategies, and activity plan);
- Developing vision and mission statements;
- Creating objectives;
- Developing successful strategies;
- Action plan;
- Obtaining feedback: important and feasible changes;
- Identifying actions leading to strategic or systematic changes.