Strategic Planning is best described simply as:- "How to get to where you want to be with what you have or can get."
The process itself has only three parts:- Where are we now? Where do we want to be? How can we get there?
Planning work is far from easy, so why must we engage in a task which is neither easy nor straightforward? First it is the responsibility of senior management to plan for the future. Second the payoff is high because strategic planning alerts an organisation to the opportunities and dangers in the world around it and focuses everyone's efforts and actions towards a planned future. Strategic planning can save companies in trouble, keep things under control when a company is growing explosively, but probably most of all it can ensure that companies are in front of their competitors in terms of value, profitability and customer service. Let us consider each part of the process:
Where are we now?
Where do we want to be?
How can we get there?