Strategic Planning Playbook

Strategic Planning Process and the Strategic Plan

Key Components of a Strategic Plan

Workplan for the Strategic Planning Process

Phase 1: Preparing for the Strategic Planning Process

• Step 1: Assembling the Planning Team
  -Identify and recruit members for the planning team.
  -Define roles and responsibilities.
• Step 2: Setting Objectives and Scope
  -Clarify the objectives of the strategic planning process.
  -Determine the scope and boundaries.
• Step 3: Kickoff and Communications
  -Conduct kickoff with the planning team.
  -Communicate to relevant stakeholders.
• Step 4: Gathering Data and Resources
  -Collect necessary internal and external data.
  -Gather relevant documents, reports, and market research.
• Phase 1 Steering Committee Meeting

Phase 2: Understanding the Current State

• Step 5: Conduct Internal Assessment
  -Perform an organizational assessment.
  -Review financial performance and key metrics.
  -Identify initiatives already underway or planned.
• Step 6: Understand the Evolving Market Dynamics
  -Understand customer segments and needs.
  -Analyze current and potential future competitors.
  -Perform PESTEL analysis (Political, Economic, Social, -Technological, Environmental, Legal).
• Phase 2 Steering Committee Meeting

Phase 3: Vision, Mission, and Values

• Step 7: Review/Revalidate/Update Vision
  -Facilitate visioning sessions with key stakeholders.
  -Draft and refine the vision statement.
• Step 8: Review/Revalidate/Update Mission
  Develop a mission statement that aligns with the vision.
  Review and refine with input from stakeholders.
• Step 9: Review/Revalidate/Update Core Values
  Identify and agree on core organizational values.
  Communicate values across the organization.
• Phase 3 Steering Committee Meeting

Phase 4: Setting Strategic Goals and Formulating Strategic Initiatives

• Step 10: Setting Strategic Goals
  -Define long-term goals (3-5 years).
  -Define short-term goals (1 year).
• Step 11: Generate Potential Strategic Initiatives
  -Consolidate strategic initiative ideas from internal stakeholders.
  -Consolidate ideas from review of market landscape.
• Step 12: Assess and Prioritize Ideas
  -Prepare rapid evaluation of each proposed initiative.
  -Prioritize initiatives to a set of high-potential ideas.
• Step 13: Evaluate in Depth and Select Initiatives
  -Formulate business case for each prioritized initiative.
  -Select initiatives for inclusion in the strategic plan.
  Phase 4 Steering Committee Meeting

Phase 5: Developing Action Plans and Allocating Resources

• Step 14: Developing Action Plans
  -Develop detailed action plans.
  -Assign responsibilities and roles for execution.
• Step 15: Setting Milestones and Deadlines
  -Establish key milestones and deadlines for each action plan.
  -Ensure alignment with strategic goals.
• Step 16: Iterate Resource Allocation and Budgeting
  -Assess resource requirements for each action plan.
  -Allocate resources and develop budgets.
• Phase 5 Steering Committee Meeting

Phase 6: Implementation and Monitoring

• Step 17: Building an Implementation Roadmap
  -Create a detailed roadmap for implementing the strategic plan.
  -Develop a communication plan to engage stakeholders.
• Step 18: Monitoring and Evaluation
  -Establish KPIs and metrics to track progress.
  -Set up regular review meetings to assess progress.
• Phase 6 Steering Committee Meeting

Phase 7: Approval and Communication

• Step 19: Approval of Strategic Plan
  -Present integrated final document to Steering Committee for approval.
  -Present strategic plan to Board for approval (if required).
  -Set up regular review meetings to assess progress.
• Step 20: Communicate Strategic Plan
  -Customize communications for relevant internal and external stakeholders.
  -Deliver communications.