How To Write a Strategic Plan? Tips and Examples
The most effective business initiative is the result of timing, planning, and a dash of luck, but companies often overlook the power of a business plan for big, long-term goals.
While founders and stakeholders may feel compelled to write a vision statement in the early stages, that vision may shift or evolve dramatically in just a few short years or even months. The lesson here is clear: a strategic plan must be part of your business at every stage, whether it’s to manage risk, reach new markets, or simply stay relevant in a sea of competition.
The question that team members grapple with is how to write a strategic plan they will continually reference and use as a roadmap for the whole organization. It’s easier said than done, which is why we’re focusing on the process of strategic planning in today’s article, complete with tips and examples from real-world business scenarios.
What Is Strategic Planning, and Why Is It Important?
Strategic planning is defined as a business management process meant to articulate a company’s vision, mission, key objectives, milestones, and strategies for long-term growth and success.
Based on a company’s current status and where it lies in the competitive landscape, strategic plans can vary tremendously. While a small startup may be eager to seek funding and become profitable for the first time, a long-standing corporation may seek to redefine itself through rebranding, expansion, strategic partnerships, or other initiatives that involve heavy capital investment and organizational firepower.
However, no matter what a strategic plan contains, there are common threads found throughout each one. For starters, strategic planning requires buy-in from stakeholders on core values, strategic priorities, business goals, and focus areas — all included in a set time frame with time-bound goals. These goals must be clear and underpinned by key performance indicators (KPIs) to avoid confusion or ambiguity across teams and team leaders.
From this standpoint, strategic planning is largely an exercise in communication, ensuring disparate departments can work in tandem to execute an action plan that aligns with strategic objectives. The larger the organization, the more difficult this becomes, and the more important strategic planning must be in even the smallest initiatives.
This proves the necessity of having a plan and the strategic planning process itself. Strategic goals, plus mission and vision, cannot be formed in a vacuum — they require input from all key players and align with the strategic goals of the organization at large. Self-reflection is also a critical component, whether that be analyzing weaknesses, risks, or shortcomings at an organizational or competitive level.
All in all, the value of strategic planning can’t be overstated, no matter where a company stands or where it plans to go. With the right approach and a willingness to reflect on the state of the organization, it can prove invaluable at any stage of the decision-making process by setting the stage for growth, evolution, and success.
5 Steps To Write an Effective Strategic Plan
Putting together an effective strategic plan involves familiar components that likely already exist within an organization, plus a set of new, well-informed goals and metrics to drive things forward.
In this sense, the best plans have one foot in the past and one in the future while staying present in the current time and place with an appropriate amount of ambition and perspective. To clarify what we mean, let’s walk through the steps that a company may follow to write an effective strategic plan from scratch.
This exercise will showcase where the process begins, what it involves, and what the future may bring — all in one concise plan that maintains focus on key areas of growth and improvement.
1. Set a Foundation With Values and Purpose
A company’s mission statement should be imbued in everything it does, including any new initiatives for growth at any stage in its lifecycle. Unfortunately, many mission statements and core values lists gather dust on the wall or in a cloud document long after they’ve been made, only to be occasionally reviewed by new employees.
This shouldn’t be the case, of course — a mission statement and company values should be continuously reviewed and used to the advantage of stakeholders from the C-suite to the board and all the way down the line.
A strategic planning process should start by reviewing these core values and an organization’s mission, offering an injection of energy and focus to the plan from square one. This also ensures stakeholders don’t fall victim to overly aggressive changes or pivots that might derail the organization from its foundational goals.
See this as an opportunity to go back to basics and use your mission statement as a compass that points you in the right direction, no matter what the strategic plan may entail in its details.
2. Analyze the Company’s Current State With SWOT
A SWOT analysis contains an honest assessment of a company’s strengths, weaknesses, opportunities, and threats and should be a core part of any strategic planning initiatives. SWOT takes a company’s current state and uses it to build a better future state.
The key here is context — a SWOT analysis can be highly revealing to board members or executives who need a dose of reality about where their business stands and how priorities should be mapped out. Additionally, a good SWOT analysis will bring a company back down to earth after successful previous initiatives and give it a full lay of the land when charting unknown territory.
This is particularly valuable when going after new segments, expanding market share, launching new products, bringing on new teams, or looking to upgrade technologies that allow for more operational efficiency and output.
While most executives will acknowledge the importance of a SWOT analysis, they often don’t follow through with actually performing one. Let this be a reminder that SWOT makes a difference and is a great building block in constructing any strategic plan.
3. Create Clear Strategic Objectives
With the company’s mission reviewed and SWOT analysis performed, it’s time to start setting goals and mapping out the objectives that matter most. Stakeholders have likely already identified the company’s goals, but now they have the extra context and information to make the best decisions without jumping to conclusions.
Whether it’s operational efficiency, new products, market expansion, or a branding refresh, the objectives stated should be SMART — specific, measurable, achievable, relevant, and time-bound. This simple formula is widely used because it works, ensuring the strategy isn’t overbaked or underdeveloped at any angle.
This step is also a chance for stakeholders to align on what goals warrant more attention and resources at the time versus certain goals that may not be as urgent. It’s meant to spark conversation and even conflict in some cases — that’s how the best decisions are made and how organizations stay on track for initiatives of any scope.
4. Develop Strategies and Initiatives
Once objectives have been set, it’s time to look at the actionable steps to make them real. At this stage, team members will discuss resource allocation, responsibilities, project details, deliverables, timeframes, and other details that make reaching these objectives possible.
This is where the strategic plan goes from theory to reality; the more detail included, the better. If everyone knows their role and there’s an agreed-upon balanced scorecard for tracking progress, the initiative is likely on the right track from the jump.
The meat and potatoes of the strategic development will take place here, and it will likely be the most labor-intensive portion of the process. The good news is that when the work is done, the organization will have the utmost clarity of vision and know what must be done to move the dial forward.
5. Implement, Evaluate, and Follow Up
With an executive summary of the strategic plan written up and key stakeholders knowing their role in the big picture, team members can begin to implement the strategy with immediate action.
This could mean mobilizing developers, researchers, marketers, or support teams to follow through on their designated tasks as defined in the meeting — there should be no ambiguity about what each team needs to do when the strategic plan is initiated.
From the initial vision statement to resource allocation and team follow-ups, there is a specific process that every strategy must use to be worth its time and effort.
Key Elements of a Strategic Plan
We’ve covered five steps that will help an organization create a strategic plan from scratch, but every team will follow a slightly different path to plan development based on structure, habits, and other external factors.
On the other hand, there are some non-negotiable elements of a strategic plan that every organization should include, starting with a mission statement. This statement should outline everything a company stands for, what it hopes to achieve, and how it delivers value to clients and customers in tangible, relatable terms.
In addition to a mission statement, every strategic plan should include a SWOT analysis, giving team members a chance to reflect on current performance and get a 360-degree view of the organization at large. Only with an honest, accurate SWOT analysis can an organization make informed choices and know where resources should be appropriately allocated.
Finally, a strategic plan should include key performance indicators that keep teams on track with common language, terms, and metrics. If each team member is doing their part and working towards a common objective, it’s only a matter of time before goals are achieved.
As an added bonus, consider writing up an executive summary that compiles all the key points of the strategic plan for quick reference and sharing. This summary should be a highlight reel of all the main points of the strategic plan, ideal for making the rounds and remaining front-of-mind as the initiatives are rolled out.
Tips for Developing and Presenting a Strategic Plan to the Team
Development and presentation are two critical aspects of strategic planning that both deserve due attention. On the development side, team members should be prioritizing operational planning, strategy execution, and how to create a balanced scorecard that holds stakeholders accountable.
However, building the strategic plan is just one part of the equation — it must also be presented to the right people at the right time to ensure total buy-in and participation from key team members at every level. Using tools like a strategy map here can help turn a long-winded plan into something visually compelling and quickly digestible and can also prove to be a valuable reference point for future use.
Consider the development stage as the ideal arena for conversation, collaboration, and testing, while the presentation side should be polished, focused, and emphasize the ongoing nature of the document with accessibility as a priority.
You can’t have one without the other — a strategic plan must be developed in full and effectively communicated to gain traction. No matter how good the fundamental ideas may be, these two factors can make or break an initiative and must receive the effort they deserve.
Get Ready To Build Your Strategic Plan With Reforge
A strategic plan is not a back-of-the-napkin endeavor or a quick memo among team members. It’s an organization-wide effort that demands attention, insight, and ongoing evaluation — otherwise, it’s doomed to fail.
While it might seem like a laborious task, the payoff of a strong strategic plan can be enormous, provided your team has followed the steps and incorporated the right elements from square one. If you’re looking to jumpstart your next strategic plan or just need a creative spark, Reforge offers a treasure trove of artifacts that real businesses use to make transformative steps forward.
From small tech startups to agencies, professional services, manufacturing, and beyond, there’s an artifact that fits the bill for your organization — let’s help you find the perfect one and get underway.
In the meantime, continue to reflect on the building blocks of a great strategic plan and prepare to take this process seriously — you’ll only get back what you put into a plan, and the right artifacts from Reforge can help.
Check out our latest Company Strategy Plans here to see the most popular real examples from top companies. With highly customizable templates and the option to create your own from scratch, there’s no limit to what you and your organization can achieve with Reforge.
How To Write a Strategic Plan? Tips and Examples
The most effective business initiative is the result of timing, planning, and a dash of luck, but companies often overlook the power of a business plan for big, long-term goals.
While founders and stakeholders may feel compelled to write a vision statement in the early stages, that vision may shift or evolve dramatically in just a few short years or even months. The lesson here is clear: a strategic plan must be part of your business at every stage, whether it’s to manage risk, reach new markets, or simply stay relevant in a sea of competition.
The question that team members grapple with is how to write a strategic plan they will continually reference and use as a roadmap for the whole organization. It’s easier said than done, which is why we’re focusing on the process of strategic planning in today’s article, complete with tips and examples from real-world business scenarios.
What Is Strategic Planning, and Why Is It Important?
Strategic planning is defined as a business management process meant to articulate a company’s vision, mission, key objectives, milestones, and strategies for long-term growth and success.
Based on a company’s current status and where it lies in the competitive landscape, strategic plans can vary tremendously. While a small startup may be eager to seek funding and become profitable for the first time, a long-standing corporation may seek to redefine itself through rebranding, expansion, strategic partnerships, or other initiatives that involve heavy capital investment and organizational firepower.
However, no matter what a strategic plan contains, there are common threads found throughout each one. For starters, strategic planning requires buy-in from stakeholders on core values, strategic priorities, business goals, and focus areas — all included in a set time frame with time-bound goals. These goals must be clear and underpinned by key performance indicators (KPIs) to avoid confusion or ambiguity across teams and team leaders.
From this standpoint, strategic planning is largely an exercise in communication, ensuring disparate departments can work in tandem to execute an action plan that aligns with strategic objectives. The larger the organization, the more difficult this becomes, and the more important strategic planning must be in even the smallest initiatives.
This proves the necessity of having a plan and the strategic planning process itself. Strategic goals, plus mission and vision, cannot be formed in a vacuum — they require input from all key players and align with the strategic goals of the organization at large. Self-reflection is also a critical component, whether that be analyzing weaknesses, risks, or shortcomings at an organizational or competitive level.
All in all, the value of strategic planning can’t be overstated, no matter where a company stands or where it plans to go. With the right approach and a willingness to reflect on the state of the organization, it can prove invaluable at any stage of the decision-making process by setting the stage for growth, evolution, and success.
5 Steps To Write an Effective Strategic Plan
Putting together an effective strategic plan involves familiar components that likely already exist within an organization, plus a set of new, well-informed goals and metrics to drive things forward.
In this sense, the best plans have one foot in the past and one in the future while staying present in the current time and place with an appropriate amount of ambition and perspective. To clarify what we mean, let’s walk through the steps that a company may follow to write an effective strategic plan from scratch.
This exercise will showcase where the process begins, what it involves, and what the future may bring — all in one concise plan that maintains focus on key areas of growth and improvement.
1. Set a Foundation With Values and Purpose
A company’s mission statement should be imbued in everything it does, including any new initiatives for growth at any stage in its lifecycle. Unfortunately, many mission statements and core values lists gather dust on the wall or in a cloud document long after they’ve been made, only to be occasionally reviewed by new employees.
This shouldn’t be the case, of course — a mission statement and company values should be continuously reviewed and used to the advantage of stakeholders from the C-suite to the board and all the way down the line.
A strategic planning process should start by reviewing these core values and an organization’s mission, offering an injection of energy and focus to the plan from square one. This also ensures stakeholders don’t fall victim to overly aggressive changes or pivots that might derail the organization from its foundational goals.
See this as an opportunity to go back to basics and use your mission statement as a compass that points you in the right direction, no matter what the strategic plan may entail in its details.
2. Analyze the Company’s Current State With SWOT
A SWOT analysis contains an honest assessment of a company’s strengths, weaknesses, opportunities, and threats and should be a core part of any strategic planning initiatives. SWOT takes a company’s current state and uses it to build a better future state.
The key here is context — a SWOT analysis can be highly revealing to board members or executives who need a dose of reality about where their business stands and how priorities should be mapped out. Additionally, a good SWOT analysis will bring a company back down to earth after successful previous initiatives and give it a full lay of the land when charting unknown territory.
This is particularly valuable when going after new segments, expanding market share, launching new products, bringing on new teams, or looking to upgrade technologies that allow for more operational efficiency and output.
While most executives will acknowledge the importance of a SWOT analysis, they often don’t follow through with actually performing one. Let this be a reminder that SWOT makes a difference and is a great building block in constructing any strategic plan.
3. Create Clear Strategic Objectives
With the company’s mission reviewed and SWOT analysis performed, it’s time to start setting goals and mapping out the objectives that matter most. Stakeholders have likely already identified the company’s goals, but now they have the extra context and information to make the best decisions without jumping to conclusions.
Whether it’s operational efficiency, new products, market expansion, or a branding refresh, the objectives stated should be SMART — specific, measurable, achievable, relevant, and time-bound. This simple formula is widely used because it works, ensuring the strategy isn’t overbaked or underdeveloped at any angle.
This step is also a chance for stakeholders to align on what goals warrant more attention and resources at the time versus certain goals that may not be as urgent. It’s meant to spark conversation and even conflict in some cases — that’s how the best decisions are made and how organizations stay on track for initiatives of any scope.
4. Develop Strategies and Initiatives
Once objectives have been set, it’s time to look at the actionable steps to make them real. At this stage, team members will discuss resource allocation, responsibilities, project details, deliverables, timeframes, and other details that make reaching these objectives possible.
This is where the strategic plan goes from theory to reality; the more detail included, the better. If everyone knows their role and there’s an agreed-upon balanced scorecard for tracking progress, the initiative is likely on the right track from the jump.
The meat and potatoes of the strategic development will take place here, and it will likely be the most labor-intensive portion of the process. The good news is that when the work is done, the organization will have the utmost clarity of vision and know what must be done to move the dial forward.
5. Implement, Evaluate, and Follow Up
With an executive summary of the strategic plan written up and key stakeholders knowing their role in the big picture, team members can begin to implement the strategy with immediate action.
This could mean mobilizing developers, researchers, marketers, or support teams to follow through on their designated tasks as defined in the meeting — there should be no ambiguity about what each team needs to do when the strategic plan is initiated.
From the initial vision statement to resource allocation and team follow-ups, there is a specific process that every strategy must use to be worth its time and effort.
Key Elements of a Strategic Plan
We’ve covered five steps that will help an organization create a strategic plan from scratch, but every team will follow a slightly different path to plan development based on structure, habits, and other external factors.
On the other hand, there are some non-negotiable elements of a strategic plan that every organization should include, starting with a mission statement. This statement should outline everything a company stands for, what it hopes to achieve, and how it delivers value to clients and customers in tangible, relatable terms.
In addition to a mission statement, every strategic plan should include a SWOT analysis, giving team members a chance to reflect on current performance and get a 360-degree view of the organization at large. Only with an honest, accurate SWOT analysis can an organization make informed choices and know where resources should be appropriately allocated.
Finally, a strategic plan should include key performance indicators that keep teams on track with common language, terms, and metrics. If each team member is doing their part and working towards a common objective, it’s only a matter of time before goals are achieved.
As an added bonus, consider writing up an executive summary that compiles all the key points of the strategic plan for quick reference and sharing. This summary should be a highlight reel of all the main points of the strategic plan, ideal for making the rounds and remaining front-of-mind as the initiatives are rolled out.
Tips for Developing and Presenting a Strategic Plan to the Team
Development and presentation are two critical aspects of strategic planning that both deserve due attention. On the development side, team members should be prioritizing operational planning, strategy execution, and how to create a balanced scorecard that holds stakeholders accountable.
However, building the strategic plan is just one part of the equation — it must also be presented to the right people at the right time to ensure total buy-in and participation from key team members at every level. Using tools like a strategy map here can help turn a long-winded plan into something visually compelling and quickly digestible and can also prove to be a valuable reference point for future use.
Consider the development stage as the ideal arena for conversation, collaboration, and testing, while the presentation side should be polished, focused, and emphasize the ongoing nature of the document with accessibility as a priority.
You can’t have one without the other — a strategic plan must be developed in full and effectively communicated to gain traction. No matter how good the fundamental ideas may be, these two factors can make or break an initiative and must receive the effort they deserve.
Get Ready To Build Your Strategic Plan With Reforge
A strategic plan is not a back-of-the-napkin endeavor or a quick memo among team members. It’s an organization-wide effort that demands attention, insight, and ongoing evaluation — otherwise, it’s doomed to fail.
While it might seem like a laborious task, the payoff of a strong strategic plan can be enormous, provided your team has followed the steps and incorporated the right elements from square one. If you’re looking to jumpstart your next strategic plan or just need a creative spark, Reforge offers a treasure trove of artifacts that real businesses use to make transformative steps forward.
From small tech startups to agencies, professional services, manufacturing, and beyond, there’s an artifact that fits the bill for your organization — let’s help you find the perfect one and get underway.
In the meantime, continue to reflect on the building blocks of a great strategic plan and prepare to take this process seriously — you’ll only get back what you put into a plan, and the right artifacts from Reforge can help.
Check out our latest Company Strategy Plans here to see the most popular real examples from top companies. With highly customizable templates and the option to create your own from scratch, there’s no limit to what you and your organization can achieve with Reforge.