What is the Process for Creating a Strategic Plan? Part 3

It is a 4 step process: 1. Understanding 2. Analysis 3. Planning 4. Action 3. Planning! Now that you understand your needs and have analyzed scenarios to find the direction to go you have the essence of the SFP. The major steps for developing the plan are as follows: -Document the primary objectives to be addressed (the Gap) -Evaluate facilities, zoning, cost, labor, competition, and additional factors that are critical -Conduct financial and risk analysis to find maximum value -Develop alternatives with recommendations and priorities -Develop a process for marketing the recommended SFP to gain approval -Obtain financial and other approvals needed to move forward Even after approval the SFP is fluid and may evolve based on market or other changing conditions. Next week: Action