Strategic Business Planning
Strategic business planning is an organization’s process of defining its strategy or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.
BARR CPA LLC typically use a SWOT (Strengths, Weaknesses, Opportunities and Threats) business analysis technique. This allows us to assist our clients in determining:
- Strengths: attributes of management and staff or the organization as a whole that may be helpful in achieving the objective
- Weaknesses: attributes of management and staff or the organization that may be harmful to achieving the objective
- Opportunities: typically external conditions that could be helpful to achieving the objective
- Threats: also typically external, these conditions could do damage to the objective.
Strategic planning is the formal consideration of an organization's future course and includes at least one of three key questions:
- What do we do?
- For whom do we do it?
- How do we do it better than others?
In many organizations, this is viewe d as a process for determining where an organization is going over the next year or, more typically, over the next 3 to 5 years, although some extend their vision even further. In order to determine where it is going, an organization needs to know exactly where it stands, where it wants to go and how it will get there.
Strategic planning may be a tool for effectively plotting the direction of an organization; however, strategic planning itself cannot foretell how the future will evolve and what issues will surface in the coming years in order to plan an organizational strategy. Therefore, strategic innovation and tinkering with the strategic plan have to be a cornerstone strategy for an organization to survive today’s turbulent business climate.
We can help your organization summarize goals and objectives into a mission statement and/or a vision statement. These statements create a sense of direction and opportunity and are both an essential part of the strategic planning process.
- A mission statement tells you the fundamental purpose of the organization. It defines the customer and the critical processes. It informs you of the desired level of performance.
- A vision statement outlines what the organization wants to be. It concentrates on the future and provides clear decision-making criteria.
We offer a comprehensive planning process enabling our clients to define a strategic vision, determine their mission, develop a focused strategy, and create a plan to achieve it. Our approach is a systematic, step-by-step, data-driven, decision-making model in which management and staff works with our professional consultants to create a compelling strategic business plan.