Vision and grasp of the future are the very heart of every entrepreneur and organization. It is impossible to direct the development of an organization without a vision. Without foresight as to where things are going it is impossible to plan and
optimize the use of existing skills and business potential.
What is a strategy?
“A series of decisions, actions and allocation of resources, paving the way and direction for the organization in it’s environment.” (The Strategy of a Competitive Edge, by Michael Perry)
A successful business strategy provides entrepreneurs and/or company management with a road map toward achieving pre-set goals. Strategic planning is achieved through these steps:
1. Defining the business’ vision, targets and goals.
2. Defining the business’ competencies (strengths and weaknesses) when faced with barriers and opportunities.
3. Defining the business environment.
4. Defining and analyzing the competitive environment.
5. Building a comprehensive strategy for the organization, including targets and goals.
6. Strategic planning of the company’s functional departments.
7. Forming a control system meant to monitor progress in order to apply the strategy.
8. Defining targets, goals and deadlines for achieving them (Gantt chart).
9. Application and operation of the process.