Goal setting hbr image: In a constantly changing business environment, it is essential to establish plans and goals that will guide the organization’s activities. But, creating goals for strategic planning can be a difficult task. What do you do to determine which goals are crucial for your business? Which goals are achievable and quantifiable? What goals should you prioritize?
To aid you in answering these questions, Here’s an overview of the definition of strategic planning as well as the definition of strategies and the best way you can choose the goals of your organization to achieve.
Strategy planning is an ongoing method of utilizing existing knowledge to outline the direction of a company’s plan. It is used for determining priorities, efficiently assigning resources, coordinating employees and shareholders to ensure that organizational goals are supported by facts and solid logic.
Research from The Harvard Business Review warns against getting ensconced in your Strategy and forgetting that it comes with inherent risks and discomfort. A strategic plan that is well-developed is constantly evolving and changing in response to opportunities and threats.
“Most people think of strategy as an event, but that’s not the way the world works,” states Harvard Business School Professor Clayton Christensen in his Online Course disruptive Strategy. “When we face unexpected opportunities or threats, we need to react. Sometimes we can respond with success, other times, we fail. The majority of strategies come from this process. In most cases the method that is successful emerges by means of a process that’s constantly working 24/7 in nearly every field.”