The Understanding of How to Develop a Strategic Plan

The Understanding of How to Develop a Strategic Plan
YouTube Video 1
The first video, Five Steps in the Strategic Planning Process, outlines five simple steps to creating a strategic plan. Here is the link to the video: /watch?v=HR4tQjf-vC8. The preliminary step is to conduct a strategic analysis. An organization’s strengths and weaknesses must be evaluated, as well as those of its competitors and other stakeholders. The second step is to establish objectives. An organization must set both short-term and long-term goals. If these objectives are met, it indicates that an organization’s strategy was successful. Strategy formulation is the third step. The organization’s members must work together to generate ideas for their action plans. Strategy Implementation is the fourth step. The organization must understand how to implement a strategy. The fifth step is to evaluate the strategy. The organization must assess the effectiveness of a strategy. After completing the first five steps, the organization can move on to Strategy Execution (Ivy Lewis, 2021). The video is helpful because the steps are simple to follow.
YouTube Video 2
The importance of team alignment is emphasized in the second video, The steps of the strategic planni...