Strategic Plan: Your Roadmap to Business Success

By Macie Edwards

GPS Map with PinsNational Baseball Hall-of-Famer Yogi Berra once said, “You've got to be very careful if you don't know where you are going, because you might not get there.” He was alluding to the fact that without a strategic plan, you are bound to end up off-track. As this concept applies to baseball, it also applies to every business and organization. Without a strategic plan, a business does not have direction for what it wants to accomplish and it will never be able to achieve or sustain success.

A strategic plan for your business will help ensure that it doesn’t end up off track, but also will provide numerous other benefits including:

Direction

A strategic plan answers the question of where your organization is going and how it is going to get there. It communicates the vision and mission of the organization and ensures that everyone is working toward a common goal.

Better Decisions

When the leaders of a business know the ultimate goals, priorities and direction of success, it is easier to make wiser decisions about how to invest time and money.

Lasting Success

A strategic plan provides your organization with a strong foundation that will help it be successful long-term.

Think of a strategic plan as your organization’s roadmap. It will tell you the destination you are trying to reach and the best way to get there. Just as you might sometimes have to adjust your route along the way, you might also need to adjust your strategic plan due to the ever-changing internal and external business environment. A strategic plan must be reviewed and updated regularly to ensure that it allows your organization to reach its full potential.

Check out Bama at Work’s upcoming workshop on Strategic Planning to plan your roadmap to organizational success.

About the Author

Macie Edwards is a Management major in the Culverhouse College of Commerce and a frequent blogger for the College of Continuing Studies at The University of Alabama.  

Photo Credit: Freepik

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