RT Planning Strategies

JUST EXACTLY WHAT IS STRATEGIC PLANNING?

 

"Strategy" is the leadership's sense of vision as to the overall course and direction of any endeavor or enterprise, be it war, government, a profit-seeking business, a non-profit organization, sports, one's personal or one's family life.


The term "strategic planning" refers to a coordinated and systematic process for developing a plan for the overall course and direction of the endeavor or enterprise for the purpose of optimizing future potential.


For a profit-making business this will involve questions as to "what shall we sell", "to whom shall we sell it" and "how shall we beat or avoid competition?" It may well involve other questions, such as; ownership and capital structure.


The central purpose of this process is to assure that the course and direction is well-thought-out, sound and appropriate and to assure that the limited resources of the enterprise (time and capital) are sharply focused in support of that course and direction. The process encompasses both strategy formulation and implementation.

 
DOES EVERY COMPANY NEED A STRATEGIC PLAN?

Every endeavor or enterprise already has a strategy. These range from some vague sense of the desires of the owner to massive, overly sophisticated master plans. So the question is not whether every company needs a strategy, but rather whether the company's strategy needs to be well-thought-out, sound, appropriate and do-able. The answer is self-evident.