The business world as well as the nature of its markets, dynamics, consumer behavior and the actions of competitor firms in the market are constantly changing. It is not possible to respond to new products or the changes to previous products by the competitors by using the same applications or using the same products. Companies need to adapt to the changes in the sector and the globe. Strategic planning to essential for foreseeing all these threats and opportunities and taking actions to make a difference.
Strategic Planning is the identification of the methods and ways to pursue to reach a company’s medium and long-term goals and organizing resource allocation. The road map acquired at the end of the process defines the methods the company will use to reach its goals. Strategic planning is also important in terms of institutionalization since corporate companies act towards shared values, policies, and solid goals.
To summarize the questions a company must ask itself before starting the strategic planning process…
- Where are we?
- Where do we want to reach?
- How do we reach that point?
- How can we monitor and evaluate our success?
By strategic planning, companies;
- Focus on important markets and allocate their resources to that will generate the value.
- Observe potential by identifying their weaknesses and strengths
- Identify and analyze the opportunities and possible threats that exist.
- Set challenging but reachable goals
- Have a road map that shows where the company is aiming and how it will get there
Quattro’s Approach to Strategic Planning
- External environment analysis (market research; sector, competitor, and customer analysis)
- Internal analysis (organizational structure, HR analysis, work analysis, financial analysis, IT analysis)
- SWOT analysis
- Strategy improvement
- Vision and mission improvement
- Implementation guidelines preparation
- A holistic approach forms the perspectives of strategy, process, organization, and technology
- Sectoral and geographic expertise.