| What is it?
Strategic planning is a broad overall review by the people at the top to see where their organisation stands now, and what major steps it must take in order to prosper over the coming years. Strategic planning should not be confused with business planning, operational planning, forecasting or budgeting. The twin hallmarks of strategic planning are the great size of the decisions and their duration over many years. Strategic planning is therefore not some hi-tech exercise to be conducted by specialists; on the contrary it must be undertaken at the highest levels of management. |
Why do it?
Because, quite simply, it is the process of self renewal. Organizations of every size and type increasingly have to make these major decisions to reflect the changes taking place all around them. As the world speeds up they have to be made more often - and meanwhile the growing complexity of the modern world makes such decisions ever more difficult. And it is all too easy for executives, even those in very senior positions, to concentrate on short term emergencies to the exclusion of the longer term. It is not surprising that many organizations do not make these strategic decisions. Usually the reason is that they just do not know how to tackle them. What is needed is a simple, systematic, disciplined process for making decisions of this magnitude. |
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