The Strategic Planning Process

What are the strategic initiatives?

As the name suggests strategic initiatives are steps or programs that are initiated by the company which will help it in achieving its various goals and objectives timely. They are also able to enhance a company’s performance as well and impact the remaining ones too. Strategic initiatives are also known as measurable changes contributing to the performance of the organization greatly.

Strategic initiatives are not just planed randomly, there are problem steps in deciding the strategic initiatives and then taking them forwarding and observing if they were ever any good.

The process of planning

To see if a strategic initiative has been successful or not a proper process is followed to analyze the situation and conditions before and after

• Analysis

Before deciding on the initiative, it is important to analyze the current situation of the company. Have a look at the existing needs of the company and its employees, and identifying the drawbacks and deficiencies accordingly. Also, looking at the various competitions in the market and if the marketplace is going accordingly to your wants or not. Then you can know about the strategic initiative that would be best to go forward with.

• Development and planning

The next step is development and planning. After the first step is completed successfully, companies or individuals brainstorm, setting the strategic initiatives that they would be able to play to their strengths and achieve success accordingly. Finances are also looked at to make sure the company can hold itself together and not collapse.

• Execution

Training is done and the planning is put into action. Important and necessary steps are made to see the company can achieve the initiative and the required assistance is also provided accordingly. A quality check is also done to ensure the best experience. It is made sure that the execution is perfect in every way.

• Review

This is the last step in the process. After all the efforts are made, everything is reviewed. All the efforts and the work done are reviewed and a quality check is preferred to see if the quality was kept intact, the timelines and schedules were followed properly. Moreover, if everything went according to plan or if there were any modifications made during the entire time. This helps in giving a realistic view of the strategic initiative set and if more need to be set accordingly and what changes would be suggested in the next initiatives.