Strategic Plans

Author: Youth 2 Youth.

Arguably the most important plan for any business, a strategic plan encompasses a long-term view of the organisation - where it's going, how it will get there, and how it will be monitored along the way. Strategic plans can cover periods of up to ten years. The long-term goals of the business are broken down into short-term, specific objectives. These objectives then require both tactical (one month to two year) plans and operational (day-to-day) plans. And these short-term objectives also require regular review and evaluation, to make sure they are being achieved.

The main elements of a strategic plan therefore comprise:

Creating a Strategic Plan can seem like a daunting task. In reality, it's not. In fact, try and think of it as 'mapping' out your dreams and vision for the business, committing them to paper. Strategic Plans can encourage and stimulate productivity and efficiency, especially when workers can see 'where' they are headed, and more importantly, they have specific instructions on how to get there.

More information

Australian Business Foundation
www.abfoundation.com.au

'Copyright 2003 Youth 2 Youth'

Disclaimer: This article is for your information, but it may not apply to or be suitable for your situation, so seek professional advice. Youth 2 Youth cannot be held liable for anything resulting from how you use the information provided in this article.