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Strategic Planning



         Objective: To understand strategic planning and how to create a strategic
         plan.




Novus Business and IT Training Program
Introduction




Novus Business and IT Training Program                  1
Definition
• A strategy is a method for reaching a goal
• Strategic planning (SP) = creating strategies
• SP answers questions about the future of a
  business.
• SP gives a business focus




Novus Business and IT Training Program                2
Prerequisites of Strategic Planning
Before doing SP, understand these things about
   the business:
1. Vision Statement
2. Mission Statement
3. Values




Novus Business and IT Training Program           3
Strategic Planning Process
                                         1. Situational
                                            Analysis




                          4. Use the                      2. Goal
                             Plan                         Setting




                                         3. Creating a
                                             Path

Novus Business and IT Training Program                              4
Step 1: Situational Analysis
Tools for understanding the current situation:

•   SWOT
•   Review an old strategic plan
•   Observation
•   Mission and vision statements


Novus Business and IT Training Program           5
Step 2: Setting Goals
Goals should:
• Reflect the SP’s time horizon
• Reflect the mission and vision statements
• Be:
     –   Specific
     –   Measurable
     –   Attainable
     –   Relevant
     –   Time-bound
• Focus on what, not how
Novus Business and IT Training Program          6
Using SWOT to Create Goals
• Short-term = Strength + Opportunity
• Mid-term = Strength + Threat
               Weakness + Opportunity
• Long-term = Weakness + Threat




Novus Business and IT Training Program   7
Step 3: Creating a Path
An action plan is needed to reach the goals

Think about:
• Desired results
• Potential obstacles
• Support you need

Write down who, what, and when for each action
Novus Business and IT Training Program           8
Step 4: Use the Plan
• Review the plan from time to time
• Annually measure your progress on the goals
• Do a final review after the time horizon has
  passed
     – Did you meet the goals?
     – Why or why not?



Novus Business and IT Training Program           9
Summary


                                               Creating a strategic
                                                 plan is hard work,
                                                 but worthwhile




Novus Business and IT Training Program                          10

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Lesson 15: Strategic Planning

  • 1. Strategic Planning Objective: To understand strategic planning and how to create a strategic plan. Novus Business and IT Training Program
  • 2. Introduction Novus Business and IT Training Program 1
  • 3. Definition • A strategy is a method for reaching a goal • Strategic planning (SP) = creating strategies • SP answers questions about the future of a business. • SP gives a business focus Novus Business and IT Training Program 2
  • 4. Prerequisites of Strategic Planning Before doing SP, understand these things about the business: 1. Vision Statement 2. Mission Statement 3. Values Novus Business and IT Training Program 3
  • 5. Strategic Planning Process 1. Situational Analysis 4. Use the 2. Goal Plan Setting 3. Creating a Path Novus Business and IT Training Program 4
  • 6. Step 1: Situational Analysis Tools for understanding the current situation: • SWOT • Review an old strategic plan • Observation • Mission and vision statements Novus Business and IT Training Program 5
  • 7. Step 2: Setting Goals Goals should: • Reflect the SP’s time horizon • Reflect the mission and vision statements • Be: – Specific – Measurable – Attainable – Relevant – Time-bound • Focus on what, not how Novus Business and IT Training Program 6
  • 8. Using SWOT to Create Goals • Short-term = Strength + Opportunity • Mid-term = Strength + Threat Weakness + Opportunity • Long-term = Weakness + Threat Novus Business and IT Training Program 7
  • 9. Step 3: Creating a Path An action plan is needed to reach the goals Think about: • Desired results • Potential obstacles • Support you need Write down who, what, and when for each action Novus Business and IT Training Program 8
  • 10. Step 4: Use the Plan • Review the plan from time to time • Annually measure your progress on the goals • Do a final review after the time horizon has passed – Did you meet the goals? – Why or why not? Novus Business and IT Training Program 9
  • 11. Summary Creating a strategic plan is hard work, but worthwhile Novus Business and IT Training Program 10