![\"Business](\"..\/wp-content\/uploads\/2018\/02\/tyler-rice-business-marketing.png\")
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![\"business](\"..\/wp-content\/uploads\/2018\/02\/business-clock-icon-2.png\"){kind=icon}
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It is important to understand strategic planning, so you can have a solid layout for your business. Without this strategy, you can find yourself having a difficult time when trying to grow your business.<\/p>\n
What is Strategic Planning?<\/h2>\n
Strategic Planning<\/strong> is defined as a process that determines the visions and goals of an organization and matches them to a strategy. When a sequence of goals is plainly laid out, employees and stakeholders can work together towards common objectives, which creates a more efficient organization.<\/p>\n Without the strategic planning process, it can be difficult for an organization\u2019s team to effectively work together. Now that we have defined what \u201cStrategic Planning<\/strong>\u201d means, let\u2019s look at the process to better understand how you can implement this for your organization.<\/p>\n <\/p>\n To begin with, the strategic planning process usually has an outlook of three<\/strong> to five<\/strong> years.<\/p>\n While there are many short-term strategies that will be used in your organization, the strategic planning process will cover a more broad, medium to long-term plan to cover the goals and vision of the business.<\/p>\n This process will be compiled into a document called a strategic plan<\/strong>. Before we dive into the specifics of what a strategic plan can look like, let\u2019s look at the strategic management framework.<\/p>\n <\/p>\n The management process and framework is usually led by a \u201cstrategic planning committee<\/strong>\u201d.<\/p>\n Organizations typically create this committee with representatives located in different areas of the business or enterprise. <\/p>\n In Michael Porter\u2019s book, “Competitive Strategy: Techniques for Analyzing Industries and Competitors\u201d<\/strong>, he goes over four key elements<\/strong> that go into competitive strategy.<\/p>\n The first two items are associated with the internal environment of the organization while the second two items deal with external factors.<\/p>\n Each item on this list should be carefully considered along each step of the strategic planning process before completing a strategic plan. <\/p>\n <\/p>\n This beginning part of the process is meant to gain a clear understanding of the organization and industry, both internally<\/strong> and externally<\/strong>.<\/p>\n Data can be gathered from interviews with key members and stakeholders in an enterprise, competitive research, industry research, and any other data source that can be beneficial to the business. With the individual values of each key player, you can later craft exceptional goals and visions of the organization. After the data has been collected, the next step in the strategic management process is activities.<\/p>\n This is the part of the process where all of the key members in the strategic management committee gather together to share and collect their ideas. This activity phase should raise some very important questions for the business. A very important part of this step is to communicate an understanding of the Unique Value Proposition<\/strong> and the Statement of Value<\/strong>.<\/p>\n <\/p>\n The unique value proposition is a statement that describes the benefits of your product or service and how it is different from the competition. This is also referred to as a unique selling proposition (USP<\/strong>). The UVP<\/strong> is a fantastic way to make sure that you have a product that will solve your target market\u2019s needs.<\/p>\n <\/p>\n While the statement of value has only been around for a few years as compared to the unique value proposition, it is just as important, if not more important, than the unique value proposition in the market today.<\/p>\n This is because the statement of value focuses on the customer<\/strong> rather than the product or service.<\/p>\n To create the statement of value, simply fill in the blanks for this sentence. ___________ enables ___________ to experience ____________.<\/p>\n The first<\/strong> blank should contain the product or service that the organization is offering.<\/p>\n The second<\/strong> blank describes the customer or company\u2019s target audience.<\/p>\n The third<\/strong> blank should describe the desired \u201cAfter\u201d state of the customer.<\/p>\n By collaborating on the statement of value and the unique selling proposition, you are able to determine how the product or service is unique and how it provides a solution to your target persona.<\/p>\n The output phase of the strategic planning process is the documentation and communication that goes into the strategic plan. This strategic plan can include a report on the competitive environment, a structured layout of objectives and processes to achieve the organization\u2019s goals, and specific actions that should be implemented over the course of the next three to five years. There are many resources that can be used in this part of the strategic planning process. This could include templates for financial statements, a balanced scorecard, or a strategy map. While it is not necessary to use all of these resources during the strategic planning process, it is good to know there are resources available. Creating an operational budget is a key part of the output process. While creating financial statements for the next three to five years may seem unnecessary, it can be a crucial projection of how to use valuable assets. Outcomes are the result of strategic implementation. They can vary greatly from business to business and is dependent on the business goals and vision set in earlier parts of the process. Keep in mind that the organization should be prepared for unintended outcomes or not being close to the goals and visions set in the activities process. Even with knowing how the strategic planning process works, it is helpful to take advantage of the hundreds of resources and tools available. We have chosen some of our favorites to help your organization plan for future success. The following is a list of free tools and resources to assist your organization during the strategic planning process.<\/p>\n The business model canvas is an excellent framework resource to understand how everything in your business would work together. While it is an extremely basic framework, it helps with keeping important aspects of your business as simple as possible to not overthink them. Download the Business Model Canvas<\/a> This resource will break down exactly who your target audience should be. Many organizations may have an understanding of the demographics and location of their potential customers but this resource goes so much deeper by asking the question why. This tool assists in stepping inside the heads of your target market. What are their challenges? What obstacles may prevent them from buying your product or service? What does the average day look like for them? Download the Customer Segment Worksheet<\/a> The balanced scorecard is possibly the most common tool associated with strategic planning for organizations. This tool allows you to understand if your company\u2019s policies are being implemented in the correct way at the right time. Download the 13+ Balanced Scorecard Templates<\/a> The strategy map is a way to visualize the business goals and visions. This is a helpful way to understand how the business goals work together to oversee the success of the organization. Canva is a fantastic graphic generator tool that can be used for multiple projects within your organization. Here is a template to create a custom strategy map. Canvas Custom Strategy Map Generator<\/a><\/p>\n The PESTLE analysis (or PEST analysis) covers the remote external environmental elements. This is a concept in marketing principles. PESTLE stands for Political, Economic, Social, Technological, Legal, and Environmental. PESTEL Analysis Explained<\/a><\/p>\n The SWOT Analysis (also known as the SWOT matrix) is a common tool in business to understand and identify the Strengths, Weakness, Threats, and Opportunities of a business. The analysis is meant to identify the internal and external factors that could be favorable or unfavorable to an organization. The strengths and weakness sections deal with the internal environment of a business whereas the threats and opportunities deal with the external environment. Free SWOT Analysis Template<\/a><\/p>\n The purpose of Porter\u2019s Five Forces Framework is to analyze the competition of a business. Porter refers to these five forces as the microenvironment of an organization. This microenvironment deals with the forces that are close to a business and affect the company\u2019s ability to properly serve the target market and make a profit. The five forces framework was created as a reaction to the SWOT analysis as Porter saw it as lacking for an organization. The five forces framework includes:<\/p>\n Learn more about Porter\u2019s Five Forces Framework.<\/a><\/p>\n If you are looking to learn more about business strategic planning and the frameworks used, there are more resources that are helpful. Scenario Planning<\/a> is a framework used with large organizations that was originally made popular by the military. It is helpful in the assessment of future scenarios in a changing external environment. The Growth-share matrix<\/a> (also known as the product portfolio matrix) is a chart to assist corporations in analyzing their product lines. This was first created by Bruce D. Henderson for the Boston Consulting Group in 1970 and is still used for larger corporations today.<\/p>\n Having a solid plan for any business or organization is important big and small. The resources and frameworks discussed are not necessary for any business but are mentioned to help provide you options for when it is time for your strategic planning. Also, during the strategic planning process, you do not have to use every business framework listed. In fact, we do not recommend using every resource as it may end up taking more time and be too broad rather than focusing on a few frameworks. Have you already undergone the strategic planning process for your organization? Do you already have a team to begin the process? Let us know how you implement the framework for your current company in the comments below. If you have any questions or would like additional resources for planning your business strategy, do not hesitate to send us a message; we would be happy to help!<\/p>\n [\/et_pb_text][et_pb_comments show_count=”off” form_background_color=”#ffffff” _builder_version=”3.16″ header_font=”||||||||” body_font=”||||||||” form_field_font=”ABeeZee||||||||” meta_font=”||||||||” border_width_all=”1px” border_color_all=”#afafaf” custom_button=”on” button_text_color=”#ffffff” button_bg_color=”#ff5f27″ button_border_width=”0px” button_font=”||||||||” button_use_icon=”off” button_alignment=”left” custom_padding=”|40px||40px” button_border_radius_hover=”3px” button_bg_color_hover=”#d3491f” button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”on” button_border_radius__hover=”3px” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”on” button_bg_color__hover=”#d3491f” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][\/et_pb_comments][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”3.0.47″ parallax=”off” parallax_method=”on”][et_pb_signup mailchimp_list=”animasmarketing|68df81ce36″ last_name_field=”off” success_action=”redirect” success_redirect_url=”https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/02\/business-model-canvas.pdf” button_text=”Download” description=”<h4 style=%22text-align: center;%22><img width=%22500%22 height=%22342%22 src=%22https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/02\/business-model-canvas.png%22 alt=%22%22 class=%22size-medium alignnone%22 \/><\/h4> If you want assistance with marketing strategies to grow your business, then let’s talk.<\/p>\n [\/et_pb_cta][et_pb_code _builder_version=”3.17″ saved_tabs=”all”]<script>(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "https:\/\/www.berush.com\/static\/berush\/js\/remote.js"; fjs.parentNode.insertBefore(js, fjs); }(document, "script", "berush-widget"));<\/script><div class="berush-root" data-ref="5756982827" data-ref_source="" data-db="us" data-color="blue"><\/div>[\/et_pb_code][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" You may have heard of strategic planning when talking about building an organization. Learn everything you need to know about it and the tools that can assist your company in long-term planning.<\/p>\n","protected":false},"author":1,"featured_media":13574,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_title":"Strategic Planning & Management Explained (2018) - Animas Marketing","_yoast_wpseo_metadesc":"You may have heard the term strategic planning used for business but not 100% sure what it means. Here, we explain everything you need to know.","_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[27,18],"tags":[],"class_list":["post-13556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-marketing-strategy"],"acf":[],"yoast_head":"\n![\"strategic](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/08\/strategic-planning-business.jpg\")
This is helpful in allocating current resources, setting priorities, and making sure everyone on your team is on the same page.<\/p>\nStrategic Planning Process<\/h2>\n
Strategic Management Framework<\/h3>\n
![\"strategic](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/08\/strategy-planning-business.jpg\")
This way, the organization can avoid conflicts of interest and straight-forward thinking within the committee and strategic planning process.<\/p>\nCompetitive Strategy: 4 Key Elements<\/h3>\n
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![\"business](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/08\/business-strategy-01.jpg\")
The strategic planning framework, like many other processes, includes inputs<\/strong>, activities<\/strong>, outputs<\/strong>, and outcomes<\/strong>. Let\u2019s look at what can go into each step of the framework process.<\/p>\nStrategic Planning Framework & Process<\/h2>\n
Inputs<\/h3>\n
![\"strategic](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/08\/strategic-data-plan.jpg\")
Also, one should be thinking about the individual values and visions of each key member involved with the success of the business such as senior management, shareholders, and board members.<\/p>\nActivities<\/h3>\n
![\"strategic](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/08\/strategic-team-organization.jpg\")
This stage allows the committee to come to a common understanding of the internal and external environments of the organization. With this understanding, a business can be prepared for changes in the competitive environment and be ready to take the correct actions in response.<\/p>\nUnique Value Proposition<\/h4>\n
Statement of Value<\/h4>\n
Outputs<\/h3>\n
![\"budget](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/08\/budget-for-organizations.jpg\")
Now that outputs are covered and the strategic planning is in place, it is time for implementation.<\/p>\nOutcomes<\/h3>\n
![\"strategic](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/08\/strategic-management-framework.png\")
<\/p>\nStrategy Management & Planning Tools<\/h2>\n
Business Model Canvas<\/h3>\n
![\"business](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/02\/business-model-canvas.png\")
<\/p>\nCustomer Segment Worksheet<\/h3>\n
![\"Detailed](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/01\/customer-segment-form.jpg\")
<\/p>\nBalanced Scorecard<\/h3>\n
![\"strategic](\"https:\/\/animasmarketing.com\/wp-content\/uploads\/2018\/08\/strategic-planning-balanced-scorecard.jpeg\")
<\/p>\nStrategy Map Generator<\/h3>\n
PESTLE Analysis<\/h3>\n
SWOT Analysis<\/h3>\n
Porter\u2019s Five Forces Framework<\/h3>\n
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Other Notable Mentions<\/h4>\n
Strategic Planning: Is it really important?<\/h2>\n
\n<h4 style=%22text-align: center;%22><strong><\/strong><\/h4>
\n<h4 style=%22text-align: center;%22><strong>Free Business Model Canvas<\/strong><\/h4>
\n<p style=%22text-align: center;%22>Print or fill out your business model all on one page.<\/p>
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\n<p style=%22text-align: center;%22>Bring in <strong>high-converting customers<\/strong> to your business with the customer segment template.<\/p>
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