Small Business strategic planning : people usually fall in assumption that strategic planning is only for big bulls , means the big players on the field . but we have to note one thing every-one’s motive is just to grow -it clears that the size doesn’t have his head here . so even small business must have their strategic plan to become a big fish in that sector and the big fish ( large players ) must do strategic planning to become the leading giant on his/her field.
- business-strategic-planning
We are going to have “what strategic planning is” ( sorry if you already know this – but i have to add ) , what is the need for a business strategic plan , what is the difference between business planning and strategic planning & planning process .
What is Strategic Planning
Developing policies & strategies for the economic growth of the business in a period of time is strategic planning . but the time depends on the kind of business we are involved – some companies has to stay along with the trends so that their predators wont swallow them and make a move – so that these companies will develop a strategic plan in line with the company.( eg : internet , laptops & gadgets companies should be in trend- even i have to write an updated and effective tip for you on this strategic planning so that you at least say a positive word about me ).
What is need for a business strategic plan
if we analyze the the benefits we conclude it is needed for sure . main theme is it provides the perfect focus on organization’s purpose – resulting in efficiency and effective productivity . it connects the board of directors and staffs – resulting in non quarreling common vision and builds relationships and satisfaction( please don’t it won’t happen )
Difference between Strategic planning & Business planning
a business plan cannot be compared with a strategic plan – business plans are themed on the issues related to launch of the company , on the other hand strategic planning in small / medium companies are for potential economic growth & for methods to make use of those possibilities . without a strategic plan it is hard to move to next step – the probability of success is rare it wont last long. though the angle differs for a small business & big players , the strategic planning is must .
Strategic planning process
About strategic planning models – defining mission & objectives to achieve the mission , planning every goal – action plans & monitoring implementation
Mission of the business : just get the core of the business why we are here & don’t think complicated answers for this . ( a football team : we must get the world cup this is mission we call )
objectives : what are the ultimate goals at which the whole company’s effort is on – those are the goals that lead us to the word “mission accomplished lets move on to next one” ( check out and win the battles to win the war ) – we have to be practical and set goals in way according to the time period we have set.so that it wont bring any disappointments and discouragement
strategic plan for every battle : strategies are the approaches for obtaining each goal – coz every goal counts . one more thing – you see elephants too slide sometimes so why not the strategy defined for a particular goal ( it may fail ) , so provide checkpoints at regular time & make room for alternative backup plans ( in case our tail is put on fire ).
Action plans : ( blue prints to construction ) this comprises of set activities in accordance with the strategic plan that makes our goal achievable . the goals must be properly distributed to departments ( yes the stock manager has to check for raw materials , the chef has to cook , the waiter has to serve the food with manner ) .everything must be under perfect persons control and goes on in perfect sync.
A stitch in time saves nine (monitor) :though companies formulate a clever plan , if they fail to monitor its effectiveness – then ….. . to become a big fish think like a fish – i mean look out for your eggs until they are hatched ( often have your eyes on your strategic plans implementation and do changes according to the situations ) . we all know that a stitch in time saves nine
one more thing ( for someone feeling seriously business ): strategic plans , monitoring and everything is OK – but don’t get your whole head submerged into that , have time relax and don’t feel depressed if something goes wrong . always say the “smell of victory is near “
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