A strategic plan document is typically the result of the strategic planning process. It is a stepping-stone towards strategy implementation and offers a road map for accomplishing your business’ strategic goals.
Rather than being fixed in stone, your strategic plan should be a dynamic document. You may need to re-examine and modify periodically to fit the changing needs of your business.
Though, there is no specific standard for a strategic planning document, but it is important to include the following:
Introduction Statement – You are expected to give reasons why you developed the strategic plan, its scope and duration.
Business Statement – Under this, you need describe the business and its history. This can be succinct and persuasive when explaining your business to others.
Vision Statement – This will describe what you want to achieve or where you want your business to be.
Core Values – Outlining the principles that underpin your business culture.
Mission Statement – Describing the long-term purpose of your business.
Problem statement – Explaining key issues that you wish to address.
SWOT Analysis – Examining your business’ internal strengths and weaknesses, as well as external opportunities and threats. See a SWOT analysis example.
Objectives and Goals – Outlining your top level objectives as measurable and actionable steps. These might include attracting a new type of customer, developing new products and services, or securing new sources of finance.
Implementation plan – Under this, you need to set out key actions (with desired outcomes and deadlines) needed to fulfill your top-level objectives.
Monitoring and Evaluation – Determination of Key Performance Indicators (KPIs) you will track, and how you monitor the progress against actions on an ongoing basis.
Resourcing – Summarizing the impact of the proposed strategy on resources, including budget, staffing, premises and equipment.
Executive Summary – This can be useful for prospective investors and other key external stakeholders.
Once you finalize this document, you will need to take steps to implement your strategic plans.
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As a Management Consulting Firm in Nigeria, SOW Professional Services understands the importance of Strategic Planning to organisations and can assist you with the process. Please call: Call us on 07038254989 or send a mail to email@example.com,WhatsApp:08152451523, www.sowprofessional.com