Business Planning & Strategy Development

What is business planing and strategy development, why do companies struggle to do this and why is it so important? Planning and strategy development is where the company lays out its objectives, values, and action items that will accomplish those objectives. This is simply known as creating a strategic plan. And this should happen at every level of the business, from executives all the way down to the individual employees.

Businesses often struggle with planning and strategy, but why? One reason businesses struggle with planning and strategy because developing a company wide plan and strategy is complex, and the larger the company the more complex this endeavor becomes. Another reason companies struggle is because there is a lot to do and it’s a weekly commitment. The good news is there’s a silver lining.

Once the steps are laid out, it becomes clearer on how to develop and execute the company’s strategic plan. And once a company takes the first step, it becomes as natural as breathing.

Why is it important for a company to develop a strategic plan? There are three main reasons to create a strategic plan. The first is expectations become clear. Everyone now knows where the company wants to go and what they are supposed to do to get there. Second, it creates a solid two way chain of communication. From the top to the bottom and back up, the communication flows a lot easier. And three, with expectations and communication becoming clear, it is easier to get buy-in at all levels. This is because everyone sees how their actions are impacting the company and pushing the company forward.

Thus, every company should have a strategic plan. And Emerald Strategic Consulting can help you develop your strategic plan and lay out the steps to execute that plan.