Work Product (Artifact): Strategic Business Plan |
This artifact captures the organization's strategy and direction.
Purpose
To align the management team on the strategic priorities To help determine compensation metrics To provide guidance for financial markets
Relationships
Input To | Mandatory: Identify Components | Optional: None | External: None
Main Description
The strategic planning process plays an essential role in forming a company's strategy. The process results in a strategic business plan or an updated strategic business plan. A key feature of a strategic business plan is that it outlines a top-level budget, which establishes the resource allocation map for the coming period of time (for example, 12 to 24 months). The strategic business plan also sets financial and operating targets. The content of the strategic business plan can include, but not be limited to, the following topics: Strategic focus Description of the business Market analysis Marketing plan Products and technologies Research and development organization Production and delivery Supply chain considerations Business systems and processes Stakeholder relationships and partner alliances Risk factors and regulatory compliance Corporate governance Financial analysis Application of investment funds Strategic action plan These are typical questions that the strategic business plan should answer: What products and services do we deliver? Where and when do we deliver our products and services? Which are our primary customer groups? Where are our primary customers? What value do our products and services deliver to our customers? What is our competitive advantage? What are our high-priority goals? Which core organizational skills and competencies are vital to achieving our mission? What are our key financial performance indicators? What are our investment requirements? What are our funding resources?
Properties
Optional |
Planned |
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