Introduction to Strategic Planning

Welcome to the Stratosphere Blog! Stratosphere, LLC is a Strategic Planning and Marketing Consulting Firm whose mission is to develop Strategies That Take Your Business To New Heights.

We will start our first series with introductory topics on strategic planning. Here are the two questions we will cover in this blog:

(1) What is strategic planning?

(2) Why is strategic planning important for your organization?

Strategic planning may vary in terms of its definition among strategy experts, but here is how we like to define it:

Strategic planning is a systematic process of understanding the current state, envisioning a desired future, translating this vision into broadly defined goals and objectives and outlining a sequence of actions to achieve them.

Strategic planning is critical for an organization to conduct on a regular basis. Here are ten reasons why:

(1) Strategic planning makes the leadership team see the big picture

(2) Strategic planning provides a clear direction and focus for the organization

(3) Strategic planning creates alignment of resources towards a common goal

(4) Strategic planning provide clarity on where the organization is going

(5) Strategic planning helps in decision-making and prioritization of projects

(6) Strategic planning helps identify factors that could disrupt your business

(7) Strategic planning helps your business maximize competitive advantage

(8) Strategic planning defines the best way to achieve business growth

(9) Strategic planning ensures the business is grounded in the mission

(10) Strategic planning helps optimize the organizational structure for the future

To learn more about strategic planning or to schedule a free consultation with Stratosphere, please call 952-220-1260 or email niravsheth@stratosphere-llc.com.