A strategic plan is important in realizing organizational or personal goals. It is a document that shows organizational members or an individual the goals that they need to meet, what they should do to attain them, and any other factors that should be considered during planning. When writing a strategic plan for an organization or individual, it is important to formulate the vision, core values, main areas of focus, objectives, projects, and key performance indicators (KPIs) of the activity.
- Vision. The vision, as part of a strategic plan, postulates where the company or individual wants reach. This fact means that it gives the “bigger picture” of where the organization or person wants to be in the foreseeable future. The mission statement helps in stipulating the ways to realize the vision. Both vision and mission can be communicated using statements that are shared with all stakeholders.
- Core values. Core values describe what the organization or individual believes in. It shows how the members of the company or person should behave in the process of meeting the set goals. In the case of an organization, it is important for all members to have shared values to ensure unity. An individual strategic plan should also show what the person believes in, especially how they behave during the entire journey.
- Main areas of focus. A strategic plan should show the main areas to concentrate on in order to realize the set goals. The focus areas also help in ensuring progress. In this case, it is important for the team or individual to concentrate on the main pillars on the plan. Besides, it is very easy to deviate from the original plan, especially when there are many external and intervening factors. Such factors include finances, management support, and time constraints, among others.
- Objective. Every strategic plan should have clear objectives. Objectives, in this case, include what the individual or organization wants to achieve. It it important to ensure that the objectives set when writing a strategic plan are specific, measurable, attainable, realistic, and time-bound (SMART). This approach ensures that the goals are easily met.
- Projects. Setting goals and objectives does not necessarily mean achieving them. After formulating SMART objectives when writing a strategic plan, it is important to show how they can be achieved. This process can be done by initiating various projects that are aimed at meeting specific goals. The aim of the projects is to attain the overall vision that was set initially.
- KPIs. KPIs mainly focus on measuring the success of a project. When writing a strategic plan, it is important to show how one is able to know that the objectives have been meet. In this case, it is important to incorporate measurable values by using tools that can generate actionable perceptions.
Strategic planning is key in ensuring success in any project. A strategic plan has various sections that are aimed at meeting the vision of an organization or individual. Therefore, the process of writing a strategic plan includes formulating the vision, core values, main focus areas, objectives, projects, and KPIs of the process.