STRATEGIC PLANNING
Kodrey Overseas Global, our unwavering commitment is dedicated to delivering outstanding service, upholding the highest ethical standards, and fostering open collaboration. We prioritize creating positive and sustainable outcomes within the realm of business development services.
WHAT IS A STRATEGIC PLAN?
A strategic plan is a document used to communicate with the organization the organizations goals, the actions needed to achieve those goals and all of the other critical elements developed during the planning exercise.
Strategic planning is a systematic process for developing an organization’s direction. It also articulates the objectives and actions required to achieve that future vision, and outlines metrics for measuring success.
By helping you refocus on your foundational purpose, your goals, development and your opportunities, strategic planning reintroduces you to “the big picture.” It’s the basis for business owners to achieve their vision, which they communicate to stakeholders in a strategic business plan and program.
It’s common to confuse a strategic plan with a business plan, which is used to start a business, obtain funding, or direct operations and generally covers one year.
A strategic plan, on the other hand, is about high-level thinking and generally looks at 3 to 5 years. It can be created at any time and should be regularly revisited. Key points to review the plan include whenever a company begins a new venture (like launching a new product), if the economy or competitive landscape changes, or when new regulations or trends affect the business environment.
THE IMPORTANCE OF STRATEGIC PLANNING
Taking the time to identify exactly where your business and your executive team are headed (and how you’ll get there) can help mitigate the risks associated with business growth. In fact, the strategic planning process can fuel long-term success by bolstering these five key areas:
Focus & Direction
Operational Efficiency
Competitive Environment
Employee Morale
Stability & Longevity
