Guide

Strategic planning for business growth

Introduction

Creating a strategic plan is a key part of planning for growth. It will help prepare a realistic vision for the future of your business. Doing so can maximise your potential for successful business growth.

You should not confuse strategic planning with business planning. A business plan is about setting short or mid-term goals and defining the steps to achieve them. A strategic plan is focused on mid to long-term goals and explains the basic strategies for achieving them.

This guide explains the purpose of strategic planning and tells you what key elements you should consider in your business' strategy. It also outlines the main steps in the strategic planning process and gives examples of common planning models you can use, such as PESTLE analysis and SWOT analysis.

Finally, this guide shows how to develop a strategic plan and what steps to follow to implement it in your business.