Blog > Strategic planning
From setting financial goals to evaluating future performance, level up your budgeting and forecasting with our FP&A resources.
Strategic finance is the core of how CFOs can be better partners to their CEOs and use the power of the purse to drive business growth.
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With so many finance publications out there, how do FP&A folks separate the wheat from the chaff? That's what we've done in this blog post.
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What's a strategic plan? And how do I know when I've included enough? Learn the essential elements of a strategic plan in this blog post.
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Strategic planning is creating and implementing business strategies designed to promote the long-term health of an organization. It's a disciplined effort that produces fundamental decisions and actions that shape and guide what an organization is, whom it serves, what it does, and why it does that.
Strategic planning is vital because it helps keep an organization on track. It takes in a lot of different inputs like business activity, financial plans, and market conditions and sees whether or not they align with the company's strategic goals.
The 5 steps of strategic planning are to...
(1) gather stakeholders
(2) do research—a SWOT analysis is helpful here
(3) determine your goals
(4) make a plan around those goals
(5) continuously monitor your progress and adjust the plan as needed