Strategic Plans: Tip of the Week
By now, if you have been following our blogs, you should be a strategic plan expert for your organization. You know what elements a strategic plan contain, you know why having one is important, and most importantly you know that you must update it often. You’ve got a brilliant new idea and you’re ready to implement it. Strategic planning refers to a coordinated and systematic process for developing a plan for the overall course and direction of an organization for the purpose of optimizing future potential. The central purpose of this process is to ensure that the course and direction of the organization is well-thought-out, sound and appropriate, and to ensure that the limited resources of the organization are sharply focused in support of the mission. The process encompasses both strategy formulation and implementation. There are four elements that are critical to every new venture:
- Opportunity: are your ideas aligned with your mission statement, and who will you help? How fast do you plan to grow?
- People involved: present who will be starting and running the organization, and any outside parties involved.
- Environment: Any regulatory, demographic trends, or market factors you can’t control that dynamically affect your strategy.
- Contingency: Explain how you and your team respond when things go wrong.
Strategic planning is a disciplined effort to produce goals and a plan of action. It pushes your team to focus on future efforts necessary for organizational success. With the commitment to a planning process comes great responsibility. We have helped many organizations develop a clear vision of the future, providing professional consultation and services to motivate organizations in their capacity building efforts.
Strategic plans can help perform various assignments for the individuals involved in the nonprofit. They’re utilized to pass on their vision to potential funders and prospecting for new donors to align their future goals and objectives in how they will help the community.