Strategy plan requires a well structured plan to allocate

Strategy
is a basic structure underlying a system of plans or methods that help the
organisation to achieve its stated objectives.

Strategic
planning process involves studying current process, defining the future goal, understanding
the gap between current and future state, implementing the optimal plan and
monitor the progress.

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Strategic
plan requires a well structured plan to allocate all resources optimally to
improve the business outcomes.

Following
9 step approach can be followed to implement  a strategic plan.

1.      Study the environment: In
this step, the current environment within and outside the organization is
studied. Both internal and external customers are involved in the study. Their needs
and priorities are discovered.

2.     
Consolidate
the relationship with customer: Company’s
commitment to customer is showcased in this step. Company describes its
relationship with the customer. Customers come to know how valued they are to
the company. This creates goodwill between company and customers. We need to
determine the issues important for customers.

3.      Define new or review quality
statements: After consolidating relationship customers,
organization defines or reviews the vision, mission and quality policy
statements, revised or new statements must meet the aspirations of the customers.
While defining new quality statements, a shared view of the entire organization
must be considered. A SWOT analysis will help understand the gap. It will lay a
foundation for better plans for the future

4.     
Identify
the gap: After defining or revision of quality
statements, they need to be compared with earlier statements. This will help to understand the underlying gap with
old system. The gap could be in market share, financial benefits, stakeholder
relations or even processes. A gap needs to be plugged to move to the new
state.

5.     
Agree
on priorities:  In this step, all possible requirements are discussed.
They need to be prioritized using Pareto chart. Prioritizing requirements will
help to solve critical issues which normally make 80% of the whole. A plan
based on priority must be prepared to achieve the new state.

6.     
Form
implementation team: A cross functional team
comprising of members from all departments is formed. This team is responsible
for preparation and implementation of the planned course of action. They need to
specify the resources in optimum quantity for smooth transition from old state
to new state.

7.     
Implement
the plan: The plan as decided by the team is
implemented. All stakeholders are involved during the implementation process. The
plan is communicated throughout the organization before being rolled out. Everyone
must be made aware of the plan. Resources must be allocated for smooth
implementation of the plan.

8.      Monitor the progress: After implementing the plan, it has to be
monitored regularly. In the early stage daily monitoring is required. Later,
the period may be extended. Anyway,
it has to be reviewed and updated to meet the new requirements of the
stakeholders. Any obstacles must be removed. Mistakes should be rectified,
plans may be tweaked and progress should be made towards achieving the goals.

9.     
Hold
everyone responsible: Though the cross functional
team is responsible for implementation of the plan, everyone in the
organization at all levels are accountable for the success or failure of the new
plan. Everyone must do their part of the work. They should align their interests
with the interest of the organization.

Thus, strategic planning is a well
planned activity to make the organization reach new level.