How to Coach Yourself and Others Essential Knowledge For Coaching | Page 354

4.22 STRATEGIC PLANNING
From Wikipedia, the free encyclopedia
Strategic planning is an organization's process of defining its
strategy, or direction, and making decisions on allocating its
resources to pursue this strategy, including its capital and
people. Various business analysis techniques can be used in
strategic planning, including SWOT analysis (Strengths,
Weaknesses, Opportunities, and Threats ), PEST analysis
(Political, Economic, Social, and Technological), STEER analysis
(Socio-cultural, Technological, Economic, Ecological, and
Regulatory factors), and EPISTEL (Environment, Political,
Informatic, Social, Technological, Economic and Legal).
Strategic planning is the formal consideration of an
organization's future course. All strategic planning deals with at
least one of three key questions:
1.
2.
3.

"What do we do?"
"For whom do we do it?"
"How do we excel?"

In business strategic planning, the third question is better
phrased "How can we beat or avoid competition?". (Bradford
and Duncan, page 1). In many organizations, this is viewed as a
process for determining where an organization is going over the
next year or more -typically 3 to 5 years, although some extend
their vision to 20 years.
In order to determine where it is going, the organization needs
to know exactly where it stands, then determine where it wants
to go and how it will get there. The resulting document is called
the "strategic plan."

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