There are certain components of the strategic planning process that needs to be in place to create, implement, and effectively monitor a strategic plan. This article provides a brief review of the steps involved with strategic planning.
The first component is preparing for the strategic planning period. Prior to engaging with strategic planning, the corporation should conduct a SWOTT analysis. The SWOTT is a tool that is used to help solicit input and responses from internal and external stakeholders to what they would consider to remain strengths and weaknesses of the organization, what opportunities and threats may help or hinder the organization, and what trends could impact the organization's objective and viability.
Leave a comment