Main Principle of Strategic Planning
                     MAIN PRINCIPLE OF STRATEGIC 
PLANNING
Introduction
• It is easy to get caught up in the day-to-day growth (or even survival) of a 
business and postpone strategic planning. Without strategic planning, 
however, a business will flounder. To keep from floundering, bear in mind 
the four main principles of strategic planning.
Source: multichannelmerchant.com
Value proposition
• The value proposition In any business venture, there needs to be a 
proposition that creates value. This value is the foundation of the offering 
to the marketplace; it is the value that the market perceives in the 
offering by the business.
Source: multichannelmerchant.com
Identifying core competencies
• The value proposition should be well-supported by competencies or skill 
sets of the business. To the extent that these competencies are unique, or 
that the company is particularly skilled in those areas, they create 
competitive advantage. 
Source: multichannelmerchant.com
Choosing the right metrics to monitor 
• Choosing the right metrics to monitor is key to successful execution of a 
strategic plan and to maintaining focus.
Source: multichannelmerchant.com
Focus on the most 
important
• Setting priorities is an important step in achieving your strategic 
objectives because as Stephen Covey of Franklin Covey stated, “the 
whirlwind of the day-to-day will consumer everyone’s time.
Source: albu-strategymanagement.com
Leverage strengths
• Don’t try to change the organization into something it is not. Companies 
need to focus on, and leverage, existing competitive advantages. 
Understand your core businesses, what is driving sales and profits, and 
leverage everything you can from it.
Source: albu-strategymanagement.com
Communicate
• Be sure everyone in your organization understands what you are doing. 
Make your employees feel they are a part of the process and the success. 
Don’t let rumors derail the efforts you are making.
Source: albu-strategymanagement.com
 Raise the Energy Level
• Create a pace of progress to create momentum and enthusiasm. Schedule 
progress meetings on a regular (monthly) basis. Make strategy 
management a priority and keep everyone interested and committed.
Source: albu-strategymanagement.com
 Remain Flexible
• Strategy management is a dynamic and continuous process. Be flexible. 
Be prepared to make adjustments as competitors, customers and 
economic market conditions change. 
• Conducting regular team strategy meetings will highlight progress made 
and action needed on key issues and opportunities.
Source: albu-strategymanagement.com
Why Strategic Planning is Important?
• Ongoing strategic planning is important for a business and its 
management team. It provides focus and helps the team move in a 
consistent direction. 
• It begins with a planning process, with identification of the value 
proposition and core competencies, includes team feedback and 
commitment, and is followed up with measurement and adaptation as 
results unfold.
Source: multichannelmerchant.com