When planning a trip on your own boat, be sure that you have a map that shows the route and a compass that will point you in the right direction. Otherwise, at best, you will get lost and will not reach your destination, at worst-your ship will wreck on the reefs or will not stand the test of a storm. For there is no fair wind for a ship that does not know where it is going.
Steps of strategic planing
- PEST analysis (the analysis of external environment)
- SWOT analysis (the internal analysis of a company)
- Development of a Risk Matrix
- Defining development scenarios
- Creation of agile strategy based on previous information
How you apply the results
- You will get a clear vision and understanding of the current situation in the market and the perspective of its development
- You will get objective information about strengths and weaknesses of your company and will have a development plan of your competitive advantages
- You will have a list of potential risks and opportunities that your company may face within the next few years
- You will learn what are potential scenarios of market development
- Finally, you will learn what are the most effective steps you should take if any of these scenarios happens