A good and simple checklist ofr best practices on Business Strategic Planning.

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Best Practices – Strategic Planning
The Planning Process
The strategic planning process consists of an orderly sequence of activities, each
contributing to the success of the whole. The process should take place off-site, away
from telephones, faxes, etc., so that team members can "disengage" from day-to-day
operations.
Best Practices:
 Practice creative thinking. Generate as many ideas a possible during the early,
"out-of-the-box" mode.
 Take a critical, unbiased look at what has worked before and what hasn't.
 Identify the best of your past business practices and drop others that have led to
costly mistakes.
 Create four to six long-term goals linked to the organization's vision.
 Devise strategies to achieve these goals and objectives.
 For each objective, create specific action steps.
The Mission Statement
A mission statement describes what an organization does, what markets it serves and
what it seeks to accomplish in the future.
 The mission statement describes how the business serves customers so they will
underwrite its strategy.
 It serves as a guide for day-to-day operations and as the foundation for future
decision-making.
 For employees, a strong mission statement builds commitment, loyalty and
motivation.
Best Practices:
 Describe the essence of the business in words your employees and customers can
understand and remember.
 Focus on specific traits and on target or niche markets.
 When the mission statement is created, post it on conference walls, on
promotional materials, even on the packaging of products.

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SWOT Analysis
A SWOT (Strengths/Weaknesses/Opportunities/Threats) analysis is a tool for looking
critically at the organization.
Best Practices:
 Draw upon a variety of perspectives -- from the CEO to employees, customers
and others who rely upon the business.
 Identify only those tangible and intangible assets and obstacles that are tied to
your company's long-term goals.
 Gather "competitive intelligence" by purchasing a competitor's product, hiring
one of its ex-employees or visiting its booth at trade shows and conferences.
 Collect information on the Internet by viewing a competitor's Web site and/or
searching online publications.
Goals and Objectives
Strategic planning identifies an organization's goals and objectives. Goals set the agenda
and are global in nature. Objectives are more specific and short-term.
Best Practices:
 Goals identify areas where a major transition must occur (a transition is described
as "from … to").
 Objectives should be measurable, quantifiable and consistent.
Implementing the Plan
The results of the strategic planning process must be integrated with an organization's
daily, weekly and monthly routines.
Best Practices:
 The CEO should develop a "stump speech" around the plan -- promoting its
values, mission statement, actions, etc. -- and spread the word wherever possible.
 Enlist a support person (or "champion") for each strategy and action.
 Organize top and middle managers into a "strategy team" that become agents for
change. The CEO should receive direct reports from these teams on a regular
basis.

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 Avoid common implementation mistakes such as: (1) lack of communication
throughout the company; (2) treating the plan as something separate and removed
from the management process; and (3) choosing to make intuitive decisions that
clash with the plan's accepted objectives.
 Set up a feedback mechanism so that employees can respond to the strategic plan.
 Share the plan with other stakeholders -- investors, customers, alliance partners,
etc.
 Keep the plan alive by monitoring its ongoing progress. Conduct 60- or 90-day
senior management reviews. Implement objectives by expanding employee skills
through training and recruitment.
 Target sales to make the link between business strategy and sales strategy.
 Reward success to increase employee motivation.