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What Is Strategic Planning?
Strategic Planning is an annual process organizations conduct to plan their near-, mid-, and long-term strategies. A robust Strategic Planning process arms the organization with clearly defined strategic objectives across all time horizons and prepares the organization for successful Strategy Development and Execution.
Per Wikipedia, we can define Strategic Planning as:
Strategic Planning is a crucial process, but often poorly executed, leading to poor translation from Strategy to Execution. In most organizations, executives complain that their Strategic Planning is overly bureaucratic, insufficiently insightful, and doesn’t accommodate today's rapidly changing, digital markets.
To combat these issues, we can follow these 3 steps of Strategic Planning:
Strategy Frameworks Blue Ocean Strategy Strategic Analysis Core Competencies Market Entry Example Competitive Analysis Competitive Advantage Market Research SWOT Customer Segmentation Breakout Strategy Strategy Development Example Vision Statement Market Sizing Value Proposition Platform Strategy Growth Strategy Pricing Strategy Strategy Development Product Strategy Product Launch Strategy Strategy Deployment & Execution Marketing Plan Development Value Chain Analysis
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