Noah Rosenfarb August 13, Source: Obtaining answers to three basic business questions can help drive strategy and business value. The term strategic planning is shrouded with great misunderstanding. It was initially derived from the military, whereby strategy dealt with the overall direction of an entire war effort — what the military would attack, defend and destroy.
Marketing strategies derive from strategic plans. To understand the relationship between the two, it's important to understand the purpose of strategic planning; the planning process; the difference between goals, objectives, strategies and tactics; and the important role of measurement in strategic planning.
The Purpose of Strategic Planning Strategic planning is designed to provide an organization, its divisions, departments or even individual players with a game plan or road map to achieve specific goals and objectives. Strategic planning identifies internal and external effects and opportunities to consider in the creation of strategies and tactics.
From a marketing standpoint, strategic planning might help to identify new market opportunities as well as new competitive threats.
The Planning Process A number of steps are involved in any strategic planning process, including a strategic marketing planning process. These include identifying the overall planning goal, selecting team participants, gathering data related to the internal and external environment, conducting a SWOT strengths, weaknesses, opportunities and threats analysis, developing specific objectives, creating strategies and tactics, and designing a measurement and reporting process.
In many organizations, the overall strategic plan provides direction for the creation of sub-plans, including a strategic marketing plan. Goals, Objectives, Strategies and Tactics The components of a strategic marketing plan include goals, objectives, strategies and tactics. Goals are broad and provide general direction in terms of what the marketing organization would like to achieve, for instance an increased market share.
Objectives are tied to goals and provide more specific, measurable outcomes -- for example, increase market share in a specific geographic area for a specific product, by a certain amount or by a specific date.
Strategies and tactics indicate how goals and objectives will be met. Tactics are more specific and indicate the individual tasks to achieve the strategies -- for instance, set up a Twitter account or establish a YouTube channel.
The Important Role of Measurement It is not enough to plan; a plan must include some form of measurement and a process for monitoring and reviewing results.
An overall strategic plan might outline broad objectives for marketing; the marketing plan would detail more specific objectives for the marketing department to monitor and report on. The results achieved -- whether they fall short or exceed expectations -- provide input used to consider changes or adjustments in the plan.
Ongoing measurement and reporting can help to ensure the strategic plan continues to achieve measurable results.Q & A with President Linda L.
M. Bennett. When you became president in , one of the first things you did was to start the planning process for the University’s first strategic plan, covering Introduction Articulating the strategic direction for the organization is one of the basic duties of a health care attheheels.com partnership with management,boards can help define the planning process.
I work closely with a strategic planning committee composed of board and staff leadership and accountable to the Board of Directors.
I view my role as facilitating and supporting the work of the planning committee. Jun 29, · Strengthening the employer-employee relationship is the strategic role of a human resources manager.
However, there’s more to this job than .
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The term strategic planning is shrouded with great misunderstanding. It was initially derived from the military, whereby strategy dealt with the overall direction of an entire war effort — what the military would attack, defend and destroy.