Knowing about the basic components of the strategic planning framework is important because it allows you to learn how to elevate your organization to the next level. So, what exactly are these components?
All plans need to begin with goals, whether they are existing goals that you already have or new ones that come up as you go along in your organization.
Based on the list of goals that you have; you need to come up with more specific objectives. In creating your objectives from the goals, you need to list down your action plans on how you will be attaining your goals.
Speaking of action plans, that is where your strategy comes in. The steps or actions that you will be doing to accomplish your objective, therefore, accomplishing your goals as well. These are specific steps that must be thought of thoroughly with your objectives in mind.
Having an objective and setting a timeframe for that goal is very important. It gives you a sense of accountability and urgency, giving you that push to actually accomplish it.
Of course, there are a lot of things that come with your goal, and your team needs to be a part of it as well. A responsible party means who is in charge of that goals. They already have the goals, strategies, and timeframe to accomplish that goal. All they need to do is to implement it into fruition.
What is your expected outcome now that your strategies are being implemented by your team. This is where KPIs come in. KPIs allow you to have a quantifiable standard of results based on your target objectives. These KPIs are essential to the last component.
Now that you have implemented and got the result of that implementation, it’s time to evaluate it. When it comes to evaluating, you are not just evaluating the result, you are also evaluation the process, the person who is in charge of that process, the time frame, and the strategy used.
This way, you will find out which strategies work or which don’t. What are the keys factors that help in making it work and what made it fail?
Having the framework in place in creating your Strategic Plan is very important. If you want us to work with you in creating a solid strategic plan for your organization, visit us at www.tvacon.com, and let’s chat!