What is a strategic plan?

A strategic plan is the end result of the strategic planning process. At its most basic, it’s a tool used to define your organization’s goals and what actions you’ll take to achieve them. Typically, your strategic plan should include:

What happens during a strategic planning process?

During the strategic planning process, stakeholders review and define the organization’s mission and goals, conduct competitive assessments, and identify company goals and objectives. The product of the planning cycle is a strategic plan, which is shared throughout the company. What is a strategic plan?

How long does strategic planning take?

Reasonable is the key word here, as that depends on your organization’s maturity level with regard to strategic planning. If you refresh your strategic plan every year, you might be able to work through this process in 4-5 weeks. If you’ve never done strategic planning before, 6 months could be more realistic.