STRATEGIC PLANNING SERVICES IN NIGERIA
There is an old saying that if you fail to plan you plan to fail. This certainly holds true in the project management world, in our daily business endeavors, and in our personal lives.
Planning is one of the major functions of management, which involves deciding beforehand, what is to be done, the right time for it to be done, the way is to be done and the right person to do it is. It is a process which lays down an organization’s goals and come up with various way through which the organization can achieve those set goals and objectives. It chalks out exactly, how to attain a specific goal.
Strategy is an action employed by managers to attain organizational goals. Strategy can also be defined as “A general guidelines set for the company and its various components to achieve a desired state in the future. Strategy results from the detailed strategic planning process”.
WHAT IS STRATEGIC PLANNING?
Strategic planning is the process of documenting and establishing a direction of an organization, by evaluating where the business is and how to get to it destination. The strategic plan gives room to record organization’s mission, vision, and values, including its long-term goals and the action plans to use to accomplish them. A well-written strategic plan can play a pivotal role in an organization’s growth and success because it teaches both employees and employers the best way to respond to opportunities and challenges.
It is also an organization’s process of defining its strategy, or direction and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy
BENEFITS OF STRATEGIC PLANNING
Though strategic planning process requires time, but it’s benefit worth it. As a business owner, you’ll have a better picture of the goals and objectives you want to accomplish and a path to do that is by creating awareness to your employees, the process can trigger an increase in productivity and therefore contributes to the success of the business.
List of some of the benefits of Strategic Planning
- It creates room for rapid growth.
- Poor performing areas can be easily identified and talking care of.
- Enhance better communications with the employees and employers of an organization.
- It serves as a road map to show where the company is going and how to get there.
- Gain a sense of security among employees that comes from better understanding of the changing environment and the company’s ability to adapt.
OUR STRATEGIC PLANNING PROCESS
At Business Cardinal, when it comes to the strategic planning process, consider having three stages: discussion stage, development stage, review and updating stage. The goal of the strategic planning process is to ensure everyone in the organization are working towards achieving organizational goals and objectives, as well as to generate a formal strategic plan document.
· Discussion Stage
The discussion stage is a phase where our representatives will meet with the clients where information, opinions and input are being gathered together. This is the stage whereby the employer and other employees who are involve with strategic planning comes together to make agenda and clear explanation of the organization’s short-term, medium-term and long-term goals and how to achieve them. Questions like “Where are we now?” and “Where are our competitors?” will be deliberated on to have a good idea of where the business is and where it will be in the nearest future.
This is where decision will be made on how to reach out to vendors, investors, analysts, and other people outside the organization to gather information. Sometimes external people will have a unique perspective. Getting their opinions on where they think the industry is going and what they think will change in the future can help you put together your strategic plan and determine where you want your business to be down the road. SWOT analysis can also be implied.
SWOT stands for:
SWOT analysis, this is examining what organization does well, what organization need to work on for improvement purpose, any future opportunities to pursue that could aid the achievement of organizational goals, and any competitors or external factors that could prevent the business from achieving it goals.
Your strengths should be pretty easy to identify. When you’re discussing your business’s weaknesses, don’t be afraid to be candid. Every business has weaknesses and things to work on. Any weakness you and your employees note means it’s something you’ll aim to improve on in the future with a detailed initiative outlined in the strategic plan.
Opportunities available to your business may be pretty clear, while identifying threats to your business can be more difficult. Speaking with people outside of the company should give you a good idea of where the industry could be heading and if there are any major competitors or challenges coming. If you can identify a number of threats and challenges to your business early on, it puts you in a better position to address them if and when you encounter them down the road.
· Development Stage
After gathering all the information needed in the first stage, it’s time for the development stage. This is when you’ll start putting together your business’s strategic plan. A strategic plan comprises of five key components:
- A vision statement
- A mission statement
- Goals and objectives
- An action plan
- Details on how often the strategic plan will be reviewed and updated
Make decision on what you will use to create the strategic plan. Ask yourself some important questions like, are you going to purchase software to help you create and house the plan? Or are you going to create the plan yourself and save it in the cloud for easier access?
When you’re creating goals and objectives for your business, make sure they’re realistic and measurable. Work with your employees to create goals and objectives for at least the next one to three years. And discuss how these goals and objectives will be measured and tracked.
For example, if you have a goal of increasing sales by 10% in the next year, you can track this by measuring sale numbers. Equally important is having an action plan to achieve these goals and objectives. If you’re trying to increase your sales by 10% in a year, you can pursue more marketing and social media outreach as part of your action plan. If an action plan doesn’t help your business achieve its goals, the plan needs to be rewritten.
· Review and Updating Stage
After setting organizational goals and objectives, as time goes on it is important to review and update it. We will be responsible for reviewing, updating and sharing any changes with the rest of the company. Everyone in the organization should be aware of the changes and how they affect the overall strategic plan.
The strategic plan is meant to be review time to time. If you developed meaningful objectives and action plans, they should help with regularly checking the strategic plan. You can also set an alert to check the strategic plan on a regular basis. Whether it’s every few months, every quarter, or every year, a recurring alert can help you review and update the document.
There is a probability to realize that you’re not on track to meet an objective or goal set for the organization. Don’t consider it as failure. Reassess the situation and discuss the issues with your employees. Identify what actually went wrong and why your business isn’t on pace; maybe the goal was too ambitious or not realistic. Change the goal or objective and update the action plan to help you get back on track.
You also may find that your organization has met a goal or objective earlier than you thought you would. If so, you can create a new goal or objective to work toward, or try to maintain the progress you’ve already made. Discuss the ideas with your employees to see what they think is possible.
SOME OF THE REASONS WHY STRATEGIC PLANNING FAILS
- Lack of understanding of the organization environment. In order to achieve set goals and objective, it is important the Planning teams pay attention to changes in the business environment, set meaningful priorities, and understand the need to pursue results.
- Poor Team. Those charged with executing the plan should be involved from the onset. Those involved in creating the plan will be committed to seeing it through execution.
- Unwillingness or inability to improve. Any organization that will achieve its goals and objectives, the team member must be willing to improve, learn and unlearn and be able to adapt as market conditions change.
- Setting of Unrealistic goals. Organization must be focused and include an achievable number of goals, objectives, and programs. Fewer and focused is better than numerous and nebulous.
- Poor accountability. An organization must be rigid when it comes to accountability. Be tough once the plan is developed and resources are committed and ensure there are consequences for not delivering on the strategy.
WHY IS STRATEGIC PLANNING SERVICES IMPORTANT?
It helps your organization in the process of analysis, by examining what organization does well, what organization need to work on for improvement purpose, any future opportunities to pursue that could aid the achievement of organizational goals, and also clarifying, preparing, and managing your company’s future growth.
Not having a written strategic or marketing plan is like trending through an unknown path without any map to guide you or driving a race car with the pedal to the metal and the windshield painted black—you don’t know when to turn and are sure to crash. That’s why you need our organization to come to your aid. We can help you clarify your vision and mission for you to achieve your organization goals and objectives. With just clear, deliverable, manageable action steps that take your business to the next level and beyond!
Looking for a strategic planning services firm that helps you achieve results, not just write a plan? That is what we specialize in. We help companies achieve breakthrough growth.
REASONS WHY YOU SHOULD CONTACT US FOR YOUR STRATEGIC PLANNING SERVICES
Depending on the size of your business or organization, our organization have skills by which we can help you develop some strategic plans that will help you achieve your organizational goals and objective. We have helped both small and big companies to realize their short and long-term goals through our strategic plan services. Let’s get in touch so we can start clarifying, preparing, and managing your future growth.
We achieve this through:
- Comprehensive Strategic Planning: that aligns the organization
- Market Studies: that showcase growth opportunities
- Marketing Strategy: that generates an ROI
- Leadership Development and Coaching: to achieve high performance
Benefit of working with us includes:
Results: The number one motivator for doing any kind of project or planning is to improve organizational performance. This approach has enabled companies and organizations to think bigger, and achieve, their targeted results in Revenue growth, Profitability, and Return on Investment of resources.
Focus: The strategic thinking approach ensures that there is a common purpose for the organization, a focus for the direction of the company, and alignment throughout the organization. That saves time and money. A clear focus enables the organization to edit their projects to those that will drive the business forward and invest all available resources into fewer but much more important initiatives.
Clarity: By having a well-defined and specific strategy that drives the entire organization, the line-of-sight to what is needed to achieve the outcome, and the role of each part of the organization is much clearer and therefore easier for each part of the organization to contribute in a synergistic way to the outcome.
Accountability: The action tools created in the third phase of the process establish accountability for successful completion of the key initiatives necessary to achieve the targeted outcome.
Team work: The process is inclusionary and encourages each person to contribute and receive value, cementing relationships of the leadership team which carries over into implementation.
At Business Cardinal, we have carried out various strategic planning services for different industries and sectors. This has aided our clients in proper analysis and examination of the organization in various areas.
For more information on the strategic planning services you can contact us on 08023200801, 08075765799, Email:email@example.com