Strategic plan

economic-dictionary

The strategic plan is a document integrated into the business plan that includes the economic-financial, strategic and organizational planning that a company or organization has to address its objectives and achieve its mission for the future.

Throughout its development, the strategic plan establishes the bases for the operation of the company in line with the achievement of future objectives, even without knowing what the future will be. In other words, it will define what actions will have to be carried out at the business level to be able to face the challenges that appear and finally achieve the objectives previously set.

On the other hand, the people in charge of writing it must be responsible for society who have great capacity to control it and have extensive knowledge of all its aspects.

Conceptually it is similar to the marketing plan, although the latter usually refers to an individual project undertaken by the company and the strategic one is more generic encompassing all the lines of work of the company. On the other hand, both are part of the development of a good business plan.

Strategic planning

Content of the strategic plan

A strategic plan should include:

  • The mission of the company.
  • Strategic vision that defines the objectives to be achieved and how to achieve them.
  • Analysis of the present of the company and its environment or scenario.
  • Action or operational plan with which to carry out the strategies that have been defined.

Through the writing of this document, the heads of a firm propose the decisions from the strategic point of view that must be followed in the future, mainly in the medium term. Normally this forecast usually proposes a three-year horizon in order to achieve competitive organizations adapted to successive changes in the sector in which they work, although it can range from one to 5 years at most.

In this sense, it should be noted that the strategic plan also includes an analysis of where the company is in the present and the resources it has to, with the help of the strategies it adopts and defines, to achieve compliance. the expectations set, which in the field of marketing is called "mission".

Characteristics of a good strategic plan

A good strategic plan must comply with the following:

  1. On the numerical side: The plan must contain estimates or forecasts with certain figures or quantities in terms of profits, sales levels or another type of similar objective.
  2. From a chronological point of view: It will be necessary to specify the time frame in which the company proposes the achievement of the goals defined in this document.
  3. From an internal point of view: You should clarify how to use resources through internal strategies or policies so as to stimulate the achievement of these objectives.
Strategic control

Tags:  comparisons Commerce markets 

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