THE IMPORTANCE OF STRATEGIC PLANNING

Explanation
Summary
Strategic planning involves the actionable steps to achieve specific goals. Strategic plzn align an organization’s actions with its stated mission and values.
Explanation
After watching the LinkedIn learning video about the” strategic planning foundation,” I will formulate my strategic plan through the following steps.
1.before I began my strategic plan, I will assess the major principle in my strategic plan process and avoid major strategic planning risks that might occur.

I will also make sure that I am well informed about the strategic environment by conducting a swot analysis to extract insight into my strategic plan from the swot analysis and assess the market.
I will set my strategic direction by defining the direction that I would want to take by creating a mission statement and my project vision. I will also formulate the guiding goals and principles towards achieving my project mission and vision.
I will also focus on the core competencies to complete my project in good time and with the available resources.
I will also evaluate and prioritize high opportunities in my project by conducting a deep analysis of high priority ides
i will assess my initiatives portfolio by creating multiple diversification views on my project and assessing my initiatives over time.

7.finally, I will make sure that I organize my project’s success by prioritizing the ongoing strategic planning process.
Conclusion
A good strategic plan involves a clear direction of what you want to achieve and involving diversification in your project by making sure that your products e spread out all over the market.  A better strategic plan should also avoid concentrating all the core business resources such that the new great ideas are not funded. For a good strategic plan, you should revisit your strategy regularly.
References
https://www.linkedin.com/learning/strategic-planning-foundations/planning-resources-2?u=74653506

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