Strategic planning and business development

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STRATEGIC PLANNING AND BUSINESS DEVELOPMENT

The term “strategic planning” is used here in the narrow sense, namely the application of management tools to address areas such as, profitability, efficiency, growth and competitive advantage. Ultimately, to address concerns of stakeholders for increase shareholder value and long-term competitiveness.

In Survey (8th annual Management Tools Survey) by Bain & Company of 451 senior executives from around the world, respondents opted for ‘tried-and-true’ (“old economy”) tools to manage the fundamentals of cost and corporate direction. Globally, the most widely used tools by senior managers in 2000 remain the same as in 1999.

Strategic planning – 76%
Mission and Vision Statements –70%
Benchmarking – 69%

New Economy Tools

A third of respondents adopted the ‘new economy’ tools most frequently cited in the press, including:

Market Disruption Analysis, used to identify where to launch new businesses to compete with startups,
Corporate Venturing, used to build those new businesses with venture capital disciplines, often in hopes of creating public spin-off,
Customer Relationship Management (CRM), which aspires to turn internet technology toward identifying and building loyalty among valuable customers.

The starting point for any business development project or strategy development is performing SWOT Analysis.

Swot analysis is a common strategic management tool used for developing corporate strategy, marketing strategy, internet marketing strategy, strategic planning and other business strategies.

SWOT matrix is adopted from Weihrich. 1982.
The left-hand axis lists the organisation's key strengths and weaknesses. The overlap between each of the groups produces four different types of strategic stimulus. For more detailed explanation see
Business Strategic Planning

SWOT Analysis Framework

Environmental Scan
/	\
Internal Analysis	External Analysis
/ \	/ \
Strengths Weaknesses	Opportunities Threats
\|
SWOT Matrix

But Hunger For E-commerce High

Despite dissatisfaction with trendy tools, 73 per cent of respondents said they wanted to stay on the cutting edge of tools and techniques. Although new economy tools netted low ratings, 62% of executives said they felt their company was not taking full advantage of the Internet.

Strategic planning as applying to setting goals and objectives and navigating towards achievement of objectives

Having identified the most popular management tools, the real task is how to apply them to develop strategies such as:

marketing strategy
business strategy
internet marketing strategy
corporate strategy
web site strategy
e business strategy

Business development and strategic planning are inextricable. But whereas business development is more project oriented, strategic planning is not a means to an end. Strategic plans are not set in stone, instead they are subject to refinement, due to changed circumstances.

Popular business development areas are:

business development services
business plan development
business development strategy
internet business development
business web site development
business consultancy development

Developing corporate strategy is not exclusive to large companies, small companies must also apply strategic management to achieving set goals. Hence, the process of strategic analysis, strategic business planning are just as valid for small companies.

Our planning consultants are experienced in strategic planning and business development and can help you in these important areas.

Practical application of business development and strategic planning to aid small businesses:

Related Material

Business development
Business Strategic planning

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