CFO Insight LLC
Strategic Planning is essential for any business in a challenging market. Understanding long term goals, and developing programs that will help you achieve those goals will allow you to effectively allocate limited Company resources. In such a well-planned environment, Companies discover that employees are more motivated as they participate and envision performance consistent with the owner's plans.
Ideally a strategic plan is built on financial metrics, although many soft measures (extent of community support... employee training... organization development... market share etc.) help round-out the strategic planning process. Once financial goals and strategic priorities have been established, the executive team can develop programs and tactics to achieve the plan objectives.
The strategic plan should be a living document, not a document that holds shelf space for several years. Ideally, plan assumptions and deliverables should be evaluated annually to consider changes in the competitive and macro business environment. Near term objectives should be evaluated quarterly to ensure that the organization is on track.
The following templates will provide a guide to those new to the planning process.