Let’s imagine for a moment that you have started your own company.
And now let’s say you’ve invented a sushi that is just like fried chicken and mashed potatoes. And so you’re so excited and you do all your market studies you produce this product. You find a way of getting it to your target market. You’re out there selling it and it’s successful. You’re making a profit and so you sit down in your office one day and go, “well now what.”
And that now what is what this article is about.
You don’t ever want to be caught in that position of where should I go what should I do.
What’s next in the business. If you are in that position. You have already fallen behind.
So what we’re trying to do with the strategic planning process here that will be going through is answer some of those questions.
What does our future hold?
Who should our target market be?
Should stay where it is now should it evolve into another group or or switch completely?
Your competition is probably catching up with you right now!!
This is what we’re talking about when we talk about strategic planning.
The purpose of strategic planning is to look at those long range goals of your business.
There’s a sign.
We don’t try and come up with what we’re going to do next week, we’re not trying to come up with we’re going to do next month or even next year.
We’re asking ourselves, where do we want to be in the long run. What direction should our business go into or what area should we develop for.
I must emphasize this is a highly involved process that involves all levels of management that particularly upper level.
It is very intense.
And well thought out. If done properly.
With-in the strategic planning process we have three levels that we’re going to be looking at with this topic.
The first one is the top level management decisions. Very long term.
Looking at the long term range. The absolute direction of the company.
The second level is the functional planning level. And this usually involves middle level management.
Here they’re going to say how do we take those fifteen…twenty year objectives and goals laid out by our top level management and the strategic planning process.
How are we to make those a reality?
What do we need to do now to move towards that to accomplish that?
And then finally the third level in the strategic planning process is operational planning. And this is the line management level.
This is actually putting the strategies into place.
Making it happen. Making it a reality.
Now next post we look at these three levels in finer detail. Hopefully you will see something that I tried to emphasize here.