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The management, stakeholders, investors, advisors, and departmental heads should join in the strategic planning that will help chart the company’s path for the future. This will help to implement the opinions of the various cross-section of the members of the organisation.
Strategic planning usually encompasses the company’s plan for the near future, and a yearly or three-yearly plan can be composed as per the organization’s vision. After each tenure, all administrative members of the organization should contemplate the wins and losses and how to take the company forward.
Yes, it is possible. But to get the best possible and comprehensive outcome, it is vital to partner with a third party or an experienced vendor partner who has expertise in this matter.
At IBG, our consultants do the initial planning at the very onset of our collaboration keeping in mind a company’s goals, vision and mission. It can be reviewed and tweaked on a monthly, quarterly or annual basis depending on the requirements and objectives that have been set at the beginning.
Strategic planning is done keeping a long-term goal in mind, usually for 3-5 years, and it encompasses every facet of the business running and setup.
An operational plan is implemented annually, and it’s designed with a budget in mind, and it includes the essential activities you plan to do in a given year.
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