Strategic planning is a term that everyone in the business environment has heard of, but few know how to define with property. Simply put, it is a process of setting a goal and a list of actions that will be taken to achieve that goal.
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In general, strategic planning is aimed at answering three questions:
- Where am I now?
- Where am I going?
- How do I get where I want to go?
By definition, it is considered to be used in a wide variety of situations, not just in the professional sphere. But since we’re talking business here, we’ve decided to list 5 valuable tips for making Strategic planning of the company (If you want to know other interesting tips on the subject, you can find them here).
1. Correctly set a goal
The goal is a detailed goal. One of the best ways to set a goal with smart:
S -gt; Specific
The first characteristic of a well-established goal is to be specific. There is no point in determining that the goal of your company is, for example, to increase revenue – you have to determine that your company should specifically increase revenues by X%.
M-Ht; Measurable (measurable)
It is very important that your goal is measurable, that is, that it can be measured and compared with previous results for the time set to achieve it. This means that there must be an initial numerical setting with which the results will be compared. Peter Drucker, the father of a consulting firm, said that “what didn’t move failed” – and he was very right.
A -gt; Achievable (achievable)
Creating unattainable goals is a shot in the foot, as it scares away managers and employees. If, on the one hand, easy goals leave everyone unaccustomed, absurd goals upset. The idea is to set a goal that is only slightly above the comfort zone of the professional in question, so you need to try a little bit to achieve it (and maintain a constant evolution), step by step.
R -GT; Relevant (appropriate)
This example of the SMART method concerns the importance of showing why the goal you are creating is relevant to the company and the person who received it. Thus, he would feel more encouraged to go after her than if he got one goal torn from the whole. An interesting practice is to show an employee how their goal unfolds in the company’s overall goal.
T-g; Timely (temporary)
Determining the deadline for a goal is almost always what determines whether it will be met. If you do not set on what date the goal should be achieved, the psychological inertia of the person will always force him to procrastine the actions necessary to perform it.
It is said that an unwritten goal is just a desire. Then, after applying the SMART method to set a target, the manager must officially document it and share it with employees of interest, so that it can be viewed daily and engraved with “iron and fire” in the minds of those involved.
2. Learn about the company itself in depth
The second advice is to have a deep knowledge of the company, to assimilate its history, strengths and weaknesses.
If, on the one hand, the company’s history concerns only its, then strengths and weaknesses are always defined in comparison with competition. It makes no sense to assume that its strength is the sale of delicious chocolate cakes if some of its competitors also sell chocolate cakes, and if market data show that sales figures are similar among competitors.
An interesting practice is to create an array of SWOT organizations. It is a marketing tool that groups the main strengths, weaknesses, opportunities and threats that are associated with the company. Take a look at the following example of the fictitious company’s SWOT matrix:
Note that strengths and weaknesses are internal aspects of the company; opportunities and threats are external factors that the organization is not controlled over, which affect the company’s performance (but which is yet to come).
There are other tools that you can use to understand your company, such as the headquarters of Ansoff and Matbcg riz (usually used to analyze the portfolio of products on the market comp(20 per.) It’s up to the manager to understand which tool best suits your reality.
3. Define the company’s vision, mission and values
These concepts create some confusion, achieving the fact that most professionals are unable to distinguish from each other.
Vision that’s what the company wants to get to. Companies usually define their vision as something utopian and intangible, but with the intention that it serves as a common compass for all employees.
IKEA is a Swedish chain of low-cost furniture stores. The company’s vision is to “save money to create a better life for people.” Understand how desirable and utopian this statement is.
Nordstrom is a North American luxury department store chain that positions itself around customer service excellence. Nordstrom’s vision is to “provide consumers with the best shopping experience.”
Mission that’s how the company is going to get where it wants to go. That is, it is something more tangible than a vision, and can be considered as the basic behavior of the company.
IKEA’s mission is to “offer a wide range of well-designed and functional furniture at such low prices that as many people as possible can buy them.”
Nordstrom’s mission is to “provide consumers with the best service, product choice, quality and value.”
Values are principles cultivated and stimulated by the organization. They are the primary responsibility for an organizational culture that distinguishes (or at least should) distinguish one company from another in terms of environment, employee profile, product types in the market, domestic policy, and so on.
Disney’s main value is security, without which the “magic of Disney” can not manifest in its parks, hotels and other attractions. This value is constantly spreading throughout the company: newly hired employees contact him from day one; and collaborators are rewarded when they shine, practicing safe actions, and warn when caught performing a task recklessly.
This third advice is nothing more than “know yourself” for a company, so it is important for any enterprise to be successful.
4. Get to know your target audience in depth
In addition to the deep knowledge of the company itself, it is very important to understand its audience. After all, we’re talking about people who should buy from you.
And understanding your audience means discussing who your potential consumer is, how you behave and places that you frequent, among other features.
An irresistible practice for a full understanding of your audience is to explore your market (customers and potential customers) and create Buyer persona your company. The buyer persona – a concept increasingly used in companies that sell online, but it proves useful in other businesses – is a fictional character who summarizes the features of his ideal client.
Characteristics defined for a person will guide marketing and trading efforts, so they should include not only demographic characteristics (such as age, gender, salary and the like), but also features Behavioral and professional. The main information you need to learn from your audience search is goals and objectives that your persona is facing in day-to-day work, so the company’s actions are as well based and consistent as possible.
Other information that can integrate the description of your persona are: hobby; Home/family configuration Events he usually attends The social networks you use the most and the vehicles you usually read.
Here is an example of a buyer persona of a fictitious company:
It’s worth noting that most organizations sell more than one product, or sell one product in different segments, so having two or more buyers persona is something in common.
5. Work on acquired media
In “The Fall of Advertising,” marketing gurus Al Rees and Laura Rees advocate for the future hit by traditional advertising, and predict the rise of public relations.
Despite exaggerated and somewhat erroneous predictions about the tragic future of tollsMI authors get this right, emphasizing the growing importance of the media in relation to the trust it gives to the consumer.
Purchased media are any vehicles that do not belong to your company and that disclose it without you having to pay for it.
And why is it so precious? Consider two scenarios: first, I come to you and say that I am the best basketball player in the area; Second, your friend comes to you and says I’m the best basketball player in the neighborhood. In which of the two situations will you feel most convinced that I am the best basketball player in the neighborhood, first or second? Of course, you’ll be giving more credit for the second case, because this is the third lawyer in my case, not me.
In addition to this basic principle underlying the acquired media, we must bear in mind that the world is crammed with companies buying third-party media for advertising, relying on a third party that spontaneously favors them is a privilege.
So pay a lot of attention to the press and public relations.
Strategic planning of the company: the role of HR
One of the areas that most interfere with the company’s strategic planning is HR. After all, it is the department that deals with people, the most valuable asset of any company.
If you want to start effectively planning your HR department, we have material that can guide you, our e-book “HR Planning and Budgeting”. You can download it for free by clicking on the button below:
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