It’s a new year so as we head into 2025, strategic planning is essential to help businesses thrive. When setting business goals in the new year and developing a plan to achieve them, employers should be asking where the business is headed and what the priorities will be, focusing on the broader and more longer-term options. When developing a strategic plan, business owners may consider the following as a good starting off point.
Where is the business now?
It’s vital to know as much about the business as possible, and consider not only how it operates internally, but what drives its profitability and how it compares with its competitors. Employers should remain critical when making any analysis and be sure this is kept separate to the day-to-day operations.
Keeping notes and reviewing them regularly to keep an ear to the ground is a good way to monitor and highlight any issues or concerns sooner rather than later. Business owners may also choose to look at other factors such as identifying any training gaps in the current workforce, and whether there is suitable employee coverage across business hours to ensure continuity of service offerings.
Where do we want to take the business next?
This is where an organisation’s vision and mission statement come into play. Employers should aim to set the top-level objectives of the business moving forward, focusing on the values of the organisation as a whole and its goals over the next five years.
What a business decides to focus on will not only determine where the priorities lie, but will also help to highlight potential sources of revenue and identify what gives it an edge over competitors. This will be the foundation from which the strategic plan is put into action, and will help to determine the labour requirements.
Will the business need more or less employees to meet its future goals? What conditions of employment are best suited to the business? What skills and qualifications will be needed by employees? Is upskilling and training an option or will the business need to look at new hires?
What do we need to do to get there?
Employers need to identify what changes should be implemented to achieve the goals set out in the new strategic plan. Depending on the objectives of the business, this could mean a complete overhaul of the current structure or just a few minor changes. Importantly, goals and deadlines should be set for all relevant stakeholders that are both reasonable and practical, and realistically achievable.
Our experienced team has successfully assisted numerous clients with strategic planning for the future, helping to set reasonable and practical objectives, and put into action effective strategies to achieve them. Get in touch for an obligation free chat now, we can help.
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