The importance of a business strategic plan cannot be understated for any company. A business strategic plan assists a company in achieving long-term sustainability. Without a strategic plan, companies would find it difficult to sustain their daily operations. They would not be able to identify their strengths to gain a competitive advantage as well as fix issues that hamper them from achieving their maximum financial potential.
To help you formulate a business strategic plan, here are some examples (in PDF format) as well as some tips in how to write a strategic plan.
A business strategic plan is not just a one-off business document created in a single setting. It requires multiple steps (specifically a process) before it is presented to executives and other stakeholders of the company. Listed below is the strategic planning process:
The mission statement describes the company’s vision, or a long-term goal it wants to achieve. The vision is not an end-goal for the organization, as it can always change its vision after it has been achieved. But the vision is not easily achievable, and requires years of consistent results and careful planning.
Guided by its vision, the organization’s management team can define measurable financial and strategic objectives. Sales objectives refer to the organization’s revenues and profit while strategic objectives refer to the firm’s business position (competitive advantage, market position, reputation). You may also see strategic planning checklist examples.
Environmental scanning refers to the analysis conducted by the organization in both its internal and external environment. An environmental scan involves three functions: internal analysis of the firm, general analysis of the firm’s industry, and analysis of the external macroenvironment.
Firms usually conduct a SWOT analysis to analyze both the internal and external environment. The SWOT analysis identifies the organization’s internal strengths and weaknesses, as well as the external opportunities and threats.
PESTLE analysis and Porter’s five forces can both be used to analyze the firm’s external macroenvironment. PESTLE analysis identifies the firm’s political, economic, social, technological, legal, and environment situation while Porter’s five forces creates detailed analysis on the firm’s direct competitors. You may also like sales strategic plan examples.
Based from the results of the environment scan, strategies must be formulated not only to capitalize on the strengths and opportunities but also to remedy the weaknesses and threats that were identified.
The purpose of strategy formulation is to gain a competitive advantage as well as achieve long-term sustainability. Organizations will find it difficult to achieve a large market share if they don’t use strategies to maximize their strengths and weaknesses and eradicate their weaknesses and threats. You may also check out recruitment strategic plan examples.
The strategies being identified are then implemented by means of programs, budgets, and procedures. Implementation involves organization of the firm’s limited resources as well as staff motivation to achieve the firm’s objectives and goals.
Proper implementation of a chosen strategy is crucial for the company to achieve its objectives. Even if the company identified the right strategy but failed in the implementation, it still deems the strategy useless. That is the reason why every individual in the organization should work collectively for the organization to achieve its objectives and goals. You might be interested in one page strategic plan examples.
Even if the strategy was not properly implemented, it can still be fixed through evaluation and control. Strategic implementation does not go according to general plan every time, especially if the firm deals with threats they cannot control (i.e., implementation of new government policies, natural calamities that halted company operations, etc.).
As long as organizations don’t incur high costs and make the same mistakes multiple times, then they are still on the right track to achieve their goals.
Evaluation and control consists of the following steps:
The company that started in a garage in 1975 is now the largest computer manufacturer in the world and employs around 100,000 full-time personnel. A few years after Microsoft was founded, the company launched its own system, the MSDOS. Unfortunately, it was only available in Microsoft’s platform. The company partnered with tech giants IBM and Intel to increase its reach in the market, then the rest is history. You may also see personal strategic plan examples.
Microsoft’s network grew bigger and faster. Numerous participants teamed up with Microsoft and eventually the interactions among participants evolved into complex webs of collaboration, not just within the company but also among groups of different players (business partners, investors, and third-party developers). You may also like health and safety strategic plan examples.
Today, the company is worth $560 billion (USD) and might even reach to $1 trillion by 2020 according to Wall Street analysts.
The world’s largest oil company was not always in the position it is in today. Exxon Mobil is a result of a merger between two oil companies, Exxon and Mobil.
The company produces 3.9 million BOE (barrels of oil) every day, easily beating out the other “Big Oil” companies or supermajors which include BP plc (England), Chevron Corporation (USA), Royal Dutch Shell plc (Netherlands), Total SA (France), and Eni SpA (Italy). You may also check out club strategic plan examples.
The company currently has 100,000 employees and also earned $237 billion (USD) in 2017, the largest revenue for any oil company in the world.
Apple, similar to Microsoft, also started in a garage. The first innovator of smartphones introduced to the world the Apple iPhone. Since then, smartphone manufacturers directed all their efforts in beating out the company that earned an average of $150 billion from 2010–2013 alone. You might be interested in HR strategic plan templates.
Apple is not only famous for producing smartphones. It in fact began as a company selling computers. If Apple is the first innovator of smartphones, did you know it was also the first innovator of personal computers when it introduced the Macintosh in 1984? Back then, Microsoft could not keep up with Apple in the technology and functionality that the original Mac provided. You may also see five-year strategic plan examples.
Even if the sales of the iPhone has decreased in recent years, the company still earned a massive $230 billion (USD) in 2017. It also employs around 66,000 full-time software designers, developers, graphic artists, and marketing personnel.
Facebook started out as a school experiment in 2004, as well as a prank from the company’s founder to get revenge on his ex-girlfriend. After a few years, it forced existing social media platforms at that time to close down while continuing to add features to make the website more convenient and accessible for users (chat, user location, comments and likes, games) as well as business entities (business page, advertisements) to use.
Even today, Facebook still controls majority of the social media environment, especially after it acquired photography app Instagram.
The company currently has around 1.80 billion daily active users, with whom 80% are located outside the US and Canada. Facebook had an annual revenue of $40.7 billion (USD) for 2017 alone, easily beating out the $7 billion average revenue it achieved in the five previous years. Facebook also has a current workforce of 15,000 employees. You may also like security strategic plan examples.
China Mobile is not the only the largest telecommunication corporation in China but is also the largest mobile phone operator in the world, with over 900 million subscribers as of June 2018. China Mobile’s core subsidiary “China Mobile Limited” is listed in both the the New York Stock Exchange (NYSE) and the Hong Kong Stock Exchange (SEHK). You may also check out procurement strategy plan examples.
China Mobile is a state-owned corporation that was born as a result of a breakup from other telecom giant China Telecom. Since then, China Mobile has dominated the country’s telecom market, controlling 70% of the market share while China Unicom and China Telecom share the remaining spoils. You might be interested in community strategic plan examples.
China Mobile tallied a total $102 billion (USD) in revenues for 2016, and currently employs half a billion employees.
The tech giant that was founded on Japanese philosophies kaizen (continuous improvement) and 5S (sort, set in order, shine, standardize, sustain) possesses a diversified business portfolio that is incomparable to other conglomerates.
Its portfolio includes electronics (Xperia, Alpha, Bravia), gaming (Playstation, Playstation VR), entertainment (Sony Pictures Entertainment), and financial services (Sony Life, FeliCa). It is to no surprise that all of Sony’s products are market leaders in their respective industries. You may also see school strategic plan examples.
Sony was founded in 1946 and has produced devices that have also been associated with pop culture. You may have heard of (or even used) the Walkman, Discman, TR-55 Transistor Radio, and the classic Betamax. After seeing a drop in revenue for 2016 ($67 billion), Sony recovered big in 2017 earning $77 billion (USD) in total revenues. The Japanese conglomerate has a current workforce of 128,000 employees. You may also like restaurant strategic plan examples.
Johnson and Johnson is the largest pharmaceutical company in the world. Aside from its headquarters in New Jersey, USA, it has corporate offices in England, Singapore, South Africa, Canada, Brazil, China, and the Philippines, to name a few.
Johnson and Johnson has three main divisions under its umbrella: consumer healthcare (baby care, skin and hair care, wound care and topicals, oral health care, women’s health, nutritionals), medical devices (sterilization products, Animas Corp., Biosense Webster, DePuy Sythes, Ethicon Inc.), and pharmaceuticals (Janssen). You may also check out audit strategic plan examples.
The conglomerate began in 1885 after the Johnson brothers (James, Robert, and Edward) decided to manufacture and sell ready-to-use surgical dressings. Johnson and Johnson then ventured into consumer healthcare in the 1950s and eventually pharmaceuticals in the 1960s (thus, the inception of Janssen). The US-based company currently employs 125,000 employees and tallied a total revenue of $75 billion (USD) in 2017. You might be interested in maintenance strategy plan examples.
Creating a business strategic plan is not difficult. You just need to do extensive research and analyze the correct data before you write them in your simple strategic plan.
We hope you found this article to be informative as well helpful when you will be writing your own business strategic plan.