Definition of Strategic Planning (What it is, Concept and Definition)

Strategic planning is a common concept within the management, which means the act of think and plan in a strategic way.

It is an area of business planning, which facilitates the running a business. Strategic planning helps to define goals and strategies to achieve these goals and is therefore a crucial part of entrepreneurship.

Planning strategically means using available resources efficiently, increasing the productivity of an individual or company. THE time management It is crucial for any business as it is one of the most valuable resources at our disposal. THE strategic risk management it is also an important area for any company.

O financial planning it can also be included in a form of strategic planning. It is of great importance to the company, as it refers to the forecast of revenues and expenses, creating an estimate of the financial means that will be needed for the future and maintaining the company.

There is also the personal strategic planning, which is the act of thinking about personal life in a strategic way, identifying its mission and values, together with the goals and objectives in the personal scope that the individual intends to achieve.

Strategic Planning in Marketing

In the field of marketing, strategic planning helps in developing strategies and solving some of the company's problems. Often a company cannot create and satisfy needs in the market because it does not plan strategically. Some problems that can arise in companies without adequate strategic planning are: lack of positioning, inadequate pricing policies, miscommunication, poor distribution channels efficient, etc.

Strategic, tactical and operational planning

There are three levels of planning: strategic, tactical and operational. In a successful company, these three levels work together and occur in the following order: strategy, tactics, and operation.

Strategic planning has a long reach and is carried out by the company's top managers, who determine the objectives within a time period (short, medium or long term).

Tactical planning has a medium scope in the company and consists of thinking about how the available means or resources can be used to achieve a favorable result. Usually this planning is a management task, often performed by administrators.

Short-range operational planning is directly linked to the technical area of ​​execution of a given action plan.

Strategic planning steps

It is possible to identify the following stages of strategic planning:

1. Definition of company values, such as eyesight and mission;
2. Analysis of the external environment, the opportunities and threats for the company;
3. Analysis of the internal environment, specifically the forces and weaknesses from the company;
4. Analysis of the current context of the company through analysis SWOT - Strengths, Weaknesses, Opportunities and Threats;
5. Definition of objectives and goals, that is, what the company intends to achieve. Where and when you want to arrive. It is important to know how to identify the target audience for each action and each objective.
6. Formulation and Implementation of the strategy, where the plan is chosen to achieve the goals and objectives defined previously. In formulating strategies, it is important to verify the resources available for implementing the strategy, and to define which resources are most appropriately applied to the chosen strategy.
7. Obtaining feedback and control, where those responsible verify the results of strategic planning.

Also know how the Pomodoro Technique.