Strategic Business Planning: Developing a Road-map for Success
                     STRATEGIC BUSINESS PLANNING: 
C
DEVELOPING A ROADMAP FOR SUCCESS
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