How to Create a Strategic Business Plan

September 27th, 2016

Through research and collaboration can be one of your small business’ most valuable endeavours, you can develop of a powerful strategic plan. However, the urgencies of running a company can quickly challenge the plan execution process. Most owners and executives make the plan an important project, but even so, implementation often suffers as the plan competes with a host of other projects, especially those that are quite urgent.

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Each initiative in the plan should be separated into its components and integrated deep within the company to securely connect a strategic plan to its execution process, regardless of other competing activities. And by tying plan component completion to ongoing employee compensation, timely and sparkling implementation of a company’s strategic plan becomes part of the normal course of business.

Once you have already completed your organisation’s strategic plan, you can use it as your map towards your growth and the next step you need to take is executing it. But unfortunately, the reality of business, with all its pressing concerns, can quickly cause plan execution to falter.

Therefore, simply creating a well-written business plan is not enough. Make sure that you are not trying harder or make the plan an urgent priority. Instead, the solution is to integrate the plan into the company’s ongoing activities so that execution takes place as part of the normal course of business.

Read more about strategic planning at: http://smallbusiness.chron.com/create-strategic-business-plan-4702.html