What is a strategic Plan?

Strategic planning is a business activity that is important to a company's ability to succeed.  The strategic plan is a long-term roadmap that details the company or non-profit organization's goals and actions.  

Some Key Elements of a Strategic Plan

  • Vision and mission statements (purpose)
  • Core values  (philosophy and principles)
  • SWOT analysis (Strengths, Weaknesses, Threats, and Opportunities)
  • Detailed goals and objectives 
  • Action plans and scorecards (tracking)

Strategic Plan Components

Components of some Strategic Plans

  • Table of Contents

  • Executive Summary: snapshot of company 

  • Mission & Vision: purpose, (Mission), perception, growth and potential (Vision), Goals and objectives 

  • Business Description: background information, brief history, company principals.

  •  Market: target market, targeted clients,  market share. May include:

  • Industry Analysis  (External Environment Analysis): industry structured, trends and statistics, key players, segmentation, sales and distribution channels etc.

  • Competitive Analysis: major competitors, strengths and weaknesses

  • Customers: customers (demographic data), buying habits, market share/market size, consumer preferences: 

  • Advertising and Promotion

  • Pricing 

  • Location

  • Products & Services

  • Organization & Management 

  • Marketing & Sales Strategy 

  • Financial Analysis (Ratio analysis)

  • Appendices

LinkedIn Learning

LinkedIn Learning is an online learning platform provided for free to all Bridgewater State University community members.  Courses are broken down into short one to two minute lessons and topics covered in this database range from specific skills, such as strategic planning, to specific technologies, such as Microsoft Excel.  Check out any or all of the modules below to gain insight into the strategic planning process.