How to Write a Strategic Business Plan With Performance Measures
A strategic business plan provides you with a direction for achieving your business mission, and includes a statement articulating your corporate vision. In order for your business to stay on track and reach its goals, you should also set quantitative performance measures. Quantitative performance measures provide your management with solid objectives, and clear goals, when presented with the strategic business plan.
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Instructions
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Identify your mission and vision statements. If your business doesn't currently have a mission and vision statement, then take your time to write one, so that it articulates in detail what you want the business to be, and what you hope to achieve.
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Perform an external analysis. This analysis should take into consideration outside factors that the business has no control over. For instance, examples of external factors include new technology, societal trends, demographic changes, political climate and competitive landscape.
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Prepare a SWOT analysis. A SWOT analysis is simply the business's strengths, weaknesses, opportunities and threats. This list will identify strengths and weaknesses of your company, as well as its weaknesses, and threats that you must plan to address.
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Set up milestones and goals. Pull out goals from the mission and vision statements, and then break each goal up into milestones, while keeping your findings from the external and SWOT analyses in mind. Each milestone should include details on what goals you expect to be achieved, and by what time you expect them to be achieved. For instance, if one of your milestones is to reduce the cost of holding inventory, you should specifically mention by how much, such as reducing it by 25 percent, over a monthly or annual timeframe.
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Assign responsibilities. Assign each milestone and goal to specific people, while providing them with detailed information both on your expectations, and how their performance will be measured. Be sure that they understand exactly what's expected of them, and what the end results should be.
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