A strategic plan is a road map that outlines the activities that you will undertake to achieve the long-term growth and performance targets for your business. For example, if you decide to expand your business through mergers with other businesses, you need clear guidelines that define how and when you will pursue the realization of this objective. A three-year strategic plan therefore sets the stage for the strategic implementation process over a definite period of three years.
Suggestions
Collect information about the future needs of the organization relative to its strengths, weaknesses, opportunities and threats. Gather some of the information from other members of the organization through collaborative meetings with both the senior management and members of staff. You could also use questionnaires.
Pick the suggestions that you think have most merit relative to the specific objectives that you intend to achieve in the next three years. Ensure that the short-listed objectives are economically viable and are capable of implementation within a three-year time frame. Specify the dates for beginning and completing each of the planned activities.
Prepare a budget that details the total amount of resources you require for each activity of the three years. If you plan to downsize the number of employees by 20 percent, for example, you should estimate the amount of money to settle the send-off packages of the dismissed employees. You should also specify the proportion of employees to be dismissed in each of the three years.
Discuss the contents of the first draft with the senior management of the organization to ensure that they agree with all provisions. Amend or discard sections per recommendations of senior management.
Document the strategic plan in coherent formats such as Word, Excel worksheets and PowerPoint presentations for easy sharing and future reference. Distribute soft copies of the three-year strategic plan through compact disks, memory sticks or emails to managers in the decision-making level of the organization.
Tips
Adopt a flexible strategic plan that you can review and adjust in the event of unexpected changes.
Do not expose your strategic plans to your competitors because they will use the information to develop counter strategies.
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