Strategic planning requires a deep analysis of the organization current status then provide a forecast of potential projects to ensure the workflow. By doing so, the project will meet the long term objectives.
The method that most businesses use is the SWOT analysis that evaluates the Strengths, Weaknesses, Opportunities and Threats. In other words, it will provide a present/future analysis of the organization.
Present
- Strengths (Experienced professionals, interpersonal skills, etc)
- Weaknesses (Lack of capital, no website, etc.)
- Opportunities (Fast growing industry, trade shows/conferences)
- Threats (Bigger competitors, lack of established reputation)
The SWOT analysis is a very familiar and useful tool because it allows your organization to see where it can improve and plan more efficiently. It also allows you to break down goals and objectives into manageable pieces.
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