Strategic plan outlines where the company is going, so that everybody in the business is working with the same information. Strategic planning helps to gauge what the organization is, exactly what it does, and why it does it, with a focus on optimizing your future potential.
A strategic plan will generally include:
- A company description
- Mission, vision and value statements
- A strategic analysis that can be in the form of a SWOT analysis (strengths, weaknesses, opportunities and threats)
- An action plan
- Budget and operating plans
- Detailed monitoring and evaluation methods
- An executive summary, which is usually written at the end of the process
A a brief strategic plan might be appropriate for a smaller company, but a more detailed plan on various aspects of the organization may be more effective for a bigger company.
Strategic Plan is not a business plan.