A corporate strategic plan looks into the future over a three to five year period.
It incorporates the annual plan, including a summarized version of the marketing plan as the working document for the coming year.
Every area of the business needs to be covered.
A realistic wish list is developed by every department based on the parameters of the strategic plan. Analysis and recommended approaches (broad strategies) from the second year on are developed similar to that of a marketing plan.
However, corporate strategic planning involves . . . input from individual managers at all levels with each progressive layer of management adding to the process including:
Budgets/Financial Statements . . . are developed for each year of the strategic plan with increasing generalization the further the need, desire, or idea is from the first year.
- Human Resource Needs
- New Products and Markets
- Diversification Approaches
- Working Capital Needs
- Orderly Transition of Power
- Capital Equipment Needs
- Facility Expansion Needs
- Retrenchment and/or Redirection
Since the first year of a corporate strategic plan is the annual plan . . . the strategic planning process matures every year. It rolls-over . . . being used as a blueprint for the next five years.
And while the annual plan may closely resemble the second year of the previous year, variables may significantly impact the remaining four years.
Developed and Implemented Properly . . . strategic planning unites all levels of management to achieve a common set of goals beyond the annual marketing plan and budget.
FOCUS Associates . . . is ready to help you implement the strategic planning process! FOCUS will work with you to visualize your company's future goals.