Strategic Business Planning

‘Imagination is more important than knowledge’- Albert Einstein. A few decades down the line, Sir Arthur C Clark articulated relevance of the same imagination very aptly- ‘To predict the future, we need logic; but we also need faith and imagination, which can sometimes defy logic itself’.

Strategic Business Planning is a similar process with a blend of logic and imagination by which we can envision the future and then plan & develop the necessary strategies to achieve it. If your organization has no or little focus on strategic business planning, then it is relying merely on tactical operations, which means exposing the organization to a mere following of the market demand or at best, just barely meeting it. Instead, envisioning a future and your organization’s role in it will not only give your organization the first mover advantage and allow it to reap the financial gains before the cluttered competition steps in, but it will also allow you to consequently reap the long term soaring financial benefits that come exclusively with such strategic foresight and meticulous planning. However, mere planning is not ample; one must remember that the ability to execute strategy is often more important than the strategy itself.

The strategic business planning process starts with the creation of a vision; where the organization needs to be in 5 to 10 years. The vision can either be a result of inspired imagination or it can be created following a critical analysis and future direction of the particular industry(s) that the business operates in. The local, regional and global trends as well as an assessment of the external threats and opportunities in the industry and the internal strengths and weaknesses in the organization are all assessed to arrive at a clear picture. Once the vision is clearly defined, the missions (or the interim steps needed to get to the vision) are planned out as well as the concrete and implementable strategies to achieve them.  This plan is then converted into a 5 to 10 year market based and realistic financial plan to ascertain the fixed and operational costs, top lines and earnings. For implementation, the strategic business plan (SBP) is converted into a project plan with clear ownerships for individual departments as well as dependencies, criticalities and deadlines. The key to the success of the SBP is timely implementation of the project plan, periodic follow up, retuning with the changing market dynamics.

OliveLit Businesses have industry experts with international Ivy league academic as well as FTSE-100 corporate experience, having developed and successfully implemented Strategic Business Plans for large corporates, SMEs as well as new entrants globally. We help create a visionary position for an organization, plan and then implement (including managing the incubation operations phase) the much needed long term and sustainable growth in its revenue, EBITDA performance, shareholder’s returns and market shares.