{"id":40848,"date":"2022-08-15T13:00:14","date_gmt":"2022-08-15T18:00:14","guid":{"rendered":"https:\/\/www.projectmanager.com\/?p=40848"},"modified":"2026-04-27T11:56:20","modified_gmt":"2026-04-27T16:56:20","slug":"strategic-planning-in-business","status":"publish","type":"post","link":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business","title":{"rendered":"Strategic Planning in Business"},"content":{"rendered":"<p>Strategic planning is key for success in business. By planning strategically for the future, a business can achieve its goals. It\u2019s easier said than done, but the more you know about strategic planning, the better chance you have at succeeding.<\/p>\n<h2 id=\"section-1\">What Is Business Strategic Planning?<\/h2>\n<p>Business strategic planning is the process of creating a business strategy and an accompanying business strategic plan to implement a company\u2019s vision and achieve its goals over time. The main goal of strategic planning is to take a company from its current state to its desired state through a series of business actions.<\/p>\n<p>The business strategic planning process usually consists of defining business goals, doing a SWOT analysis to assess the company\u2019s business environment and developing a business strategy. The leadership team is in charge of business strategic planning, as it has a very important impact on the overall direction of a company.<\/p>\n<div class=\"template-download-holder\">\n\t<div class=\"template-download-image-holder\">\n\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"900\" src=\"\/wp-content\/uploads\/2022\/11\/Strategic-Plan-Template.png\" class=\"attachment-large size-large\" alt=\"\" srcset=\"\/wp-content\/uploads\/2022\/11\/Strategic-Plan-Template.png 1600w, \/wp-content\/uploads\/2022\/11\/Strategic-Plan-Template-600x338.png 600w, \/wp-content\/uploads\/2022\/11\/Strategic-Plan-Template-300x169.png 300w, \/wp-content\/uploads\/2022\/11\/Strategic-Plan-Template-768x432.png 768w, \/wp-content\/uploads\/2022\/11\/Strategic-Plan-Template-1536x864.png 1536w, \/wp-content\/uploads\/2022\/11\/Strategic-Plan-Template-450x253.png 450w, \/wp-content\/uploads\/2022\/11\/Strategic-Plan-Template-384x216.png 384w, \/wp-content\/uploads\/2022\/11\/Strategic-Plan-Template-800x451.png 800w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/>\t<\/div><p class=\"intro\">Get your free<\/p>\n<h3>Strategic Plan Template<\/h3>\n<p class=\"subtitle\">\n\tUse this free Strategic Plan Template  for Word to manage your projects better.<\/p>\n\t\t<button type=\"button\" data-file-id=\"68175\" data-categoryname=\"In blog post\" class=\"button green template-lightbox-trigger-68175\">Download Word File<\/button>\n\t<\/div> \n\n<p>&nbsp;<\/p>\n<p>Strategic Planning is one of the three levels of organizational planning, which is the process that allows organizations to define its objectives for the future and make action plans to guide the efforts of each of its departments, employees and <a href=\"\/blog\/four-functions-of-management\">management levels<\/a>.<\/p>\n<p>The other two levels of organizational planning are tactical and operational planning. Let\u2019s see how these three types of organizational planning differ from each other.<\/p>\n<h3>Strategic Planning vs. Tactical Planning<\/h3>\n<p>While a strategic plan is created by the top management team and defines the high-level strategic goals of an entire organization, a tactical plan has a narrower scope. A <a href=\"\/blog\/tactical-planning\">tactical plan<\/a> is created by the middle management level of a business and describes the specific goals, initiatives, challenges and resources for each department and how its efforts contribute to the completion of the larger strategic plan of the business.<\/p>\n<h3>Strategic Planning vs. Operational Planning<\/h3>\n<p>An operational plan allows you to establish guidelines, procedures and best practices for the daily operations of your business. The main objective of <a href=\"\/blog\/operational-planning-make-operation-plan\">operational planning<\/a> is to ensure that your business operations contribute to the accomplishment of the strategic objectives defined in the strategic plan.<\/p>\n<h2 id=\"section-2\">The Strategic Planning Process in 3 Steps<\/h2>\n<p>Strategic planning is very important, but it doesn&#8217;t need to be overly complex. Let&#8217;s simplify this process by breaking it down into three simple steps.<\/p>\n<h3>1. Set Business Goals<\/h3>\n<p>A business goal is simply an accomplishment that a company wants to achieve in the short, medium or long term. Business goals can take many forms such as increasing sales, revenue, customer satisfaction levels and brand positioning, among many other things.<\/p>\n<h3>2. Conduct a SWOT Analysis<\/h3>\n<p>The goal of a business strategy is to leverage the strengths of a business and minimize the impact of its weaknesses. Those two things are internal factors. The strengths of a company can become competitive advantages that can lead to business growth. There are many types of business strengths and weaknesses such as scale, speed, or R&amp;D, just to name a few.<\/p>\n<p>Threats and opportunities refer to external factors such as competitors or an untapped market. A successful business strategy considers all of these factors to define how a product or service will be created, marketed and sold, and a <a href=\"https:\/\/www.projectmanager.com\/templates\/swot-analysis-template\">SWOT analysis<\/a> is a great starting point.<\/p>\n<h3>3. Develop a Business Strategy &amp; Strategic Plan<\/h3>\n<p>Once you\u2019ve completed your SWOT analysis, you can create a business strategy that\u2019s designed to help position your company in the market. Your business strategy guides how you produce, market and sell your product or service based on internal and external analysis. In addition to this, it&#8217;s advisable to use a <a href=\"\/templates\/scenario-planning-template\">scenario planning matrix<\/a> to estimate how successful your business strategy would be in different <a href=\"\/blog\/scenario-planning\">scenarios<\/a>.<\/p>\n<p>Then, you\u2019ll need a strategic plan to explain how you plan to execute that business strategy. To oversee the execution of a business strategic plan, managers need to manage time, costs and tasks. ProjectManager is a project planning tool that allows managers to plan, schedule and manage their team\u2019s work. Plan your work with professional tools such as Gantt charts, kanban boards, task lists and calendars. Then track your progress in real time to stick to your strategic plan. Get started for free.<\/p>\n<figure id=\"attachment_63414\" aria-describedby=\"caption-attachment-63414\" style=\"width: 1554px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.projectmanager.com\/freetrial?edition=d&amp;cycle=year\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-63414 size-full\" src=\"\/wp-content\/uploads\/2022\/07\/Construction-Gantt-Costs-Resources-CTA-BUTTON-2.jpg\" alt=\"Gantt chart in projectmanager\" width=\"1554\" height=\"835\" srcset=\"\/wp-content\/uploads\/2022\/07\/Construction-Gantt-Costs-Resources-CTA-BUTTON-2.jpg 1554w, \/wp-content\/uploads\/2022\/07\/Construction-Gantt-Costs-Resources-CTA-BUTTON-2-600x322.jpg 600w, \/wp-content\/uploads\/2022\/07\/Construction-Gantt-Costs-Resources-CTA-BUTTON-2-300x161.jpg 300w, \/wp-content\/uploads\/2022\/07\/Construction-Gantt-Costs-Resources-CTA-BUTTON-2-768x413.jpg 768w, \/wp-content\/uploads\/2022\/07\/Construction-Gantt-Costs-Resources-CTA-BUTTON-2-1536x825.jpg 1536w, \/wp-content\/uploads\/2022\/07\/Construction-Gantt-Costs-Resources-CTA-BUTTON-2-450x242.jpg 450w\" sizes=\"auto, (max-width: 1554px) 100vw, 1554px\" \/><\/a><figcaption id=\"caption-attachment-63414\" class=\"wp-caption-text\">Use ProjectManager&#8217;s Gantt chart to stick to your strategic plan. <a href=\"https:\/\/www.projectmanager.com\/software\/gantt-chart\">Learn more<\/a><\/figcaption><\/figure>\n<h2 id=\"section-3\">What Is a Business Strategic Plan?<\/h2>\n<p>A business strategic plan is an <a href=\"https:\/\/www.projectmanager.com\/templates\/implementation-plan-template\">implementation plan<\/a> that\u2019s meant to turn a business strategy into action items that can be executed over time. Business strategic plans are usually executed over the course of 3-5 years.<\/p>\n<h3>How to Develop a Strategic Plan<\/h3>\n<p>To develop a strategic plan, you should ask yourself the following three questions.<\/p>\n<ol>\n<li><strong>Where Is the Business Now? <\/strong>Gather as much information on your business as possible including internal operations and what drives its profitability. Compare the business to competitors and note the similarities and differences in detail. This isn\u2019t a day-to-day operational study, but a broader look at the business in context to itself and its environment. But don\u2019t go crazy; stay realistic in terms of your business goals. Be detached and critical in your analysis.<\/li>\n<li><strong>Where Do You Want to Go?<\/strong> Now it\u2019s time to decide what your top-level objectives are for the future. Start with a <a href=\"https:\/\/www.projectmanager.com\/blog\/guide-writing-perfect-vision-statement-examples\">vision statement<\/a>, objectives, values, techniques and goals. Look forward to five years or more to forecast where you want the business to be at that time. This means figuring out what the focus of the business will be in the future. Will that focus differ from what it is now, and what competitive advantages do have you in the marketplace? This is where you build the foundation and initiate changes.<\/li>\n<li><strong>How Can You Get There? <\/strong>Once you know where you are and where you want to go, it\u2019s time to plan. What are the changes to the structure, financing, etc., necessary for the business to get there? Decide on the best way to implement those changes, the timeframe with deadlines and how to finance it. Remember, this is looking at the business at large, so consider major endeavors such as diversification, existing growth, acquisition and other functional matters. A <a href=\"https:\/\/www.projectmanager.com\/blog\/gap-analysis-project-management\" target=\"_blank\" rel=\"noopener noreferrer\">gap analysis<\/a> can be a big help here.<\/li>\n<\/ol>\n<p>Once you\u2019ve answered the above questions and have a way to achieve the long-term goals laid out in the strategic plan, the next step is making sure you have the right person to manage all of its moving parts. They must be analytical, a creative thinker and able to grasp operational detail.<\/p>\n<p>That doesn\u2019t mean the strategic plan is led by one person. It\u2019s best to not do it alone; seek other opinions. The people in your organization, from bottom to top, are all great resources to offer perspectives from their standpoints. Don\u2019t forget to take in the advice of stakeholders, including customers, clients, advisors and consultants.<\/p>\n<h2 id=\"section-4\">Key Components of a Business Strategic Plan<\/h2>\n<p>To create a strong strategic plan, one must first have a strong understanding of the business that is to expand. How does the business work? Where does the business stand in relation to competitors in the marketplace? A strategic plan is built on the bones of the following foundational elements:<\/p>\n<ol>\n<li><strong>Mission Statement:<\/strong> The <a href=\"https:\/\/www.projectmanager.com\/blog\/mission-statement-with-examples\">mission statement<\/a> describes what your company does.<\/li>\n<li><strong>Vision Statement:<\/strong> The vision statement explains where your company expects to be in the future.<\/li>\n<li><strong>Core Values:<\/strong> Guiding principles that shape your company\u2019s organizational culture.<\/li>\n<li><strong>Business Objectives:<\/strong> Consider using the <a href=\"https:\/\/www.projectmanager.com\/blog\/how-to-create-smart-goals\" target=\"_blank\" rel=\"noopener noreferrer\">SMART goal-setting technique<\/a>. This simply means setting up specific, measurable, attainable, relevant and time-bound objectives that your company wants to achieve.<\/li>\n<li><strong>SWOT Analysis:<\/strong> External and internal factors that make up your company\u2019s business competitive environment.<\/li>\n<li><strong>Action Plan:<\/strong> A plan outlining steps that will be taken to <a href=\"https:\/\/www.projectmanager.com\/templates\/action-plan-template\">achieve the business objectives<\/a> of your organization.<\/li>\n<li><strong>Financials:<\/strong> A section that shows the financial performance expectations, the <a href=\"\/blog\/what-is-a-business-budget\">budget<\/a> and the resources that will be required to implement the action plan.<\/li>\n<li><strong>Performance Measurements:<\/strong> Performance indicators that will be used to measure the effectiveness of the action plan.<\/li>\n<\/ol>\n<p>Never forget to check your strategic plan against reality. In addition to being achievable, it must be practical for your business environment, resources and marketplace.<\/p>\n<h2 id=\"section-5\">Business Strategic Plan Example<\/h2>\n<p>Now let\u2019s look at a simple business strategic plan example. This is a strategic plan for a small construction company.<\/p>\n<h3>1. Mission, Vision &amp; Core Values<\/h3>\n<ul>\n<li><strong>Mission Statement:<\/strong> To build residential spaces that provide wellbeing for our clients.<\/li>\n<li><strong>Vision Statement:<\/strong> To offer the best construction experience for our clients and expand our brand throughout the globe.<\/li>\n<li><strong>Core Values:<\/strong> Sustainable innovation and respect for the environment.<\/li>\n<\/ul>\n<h3>2. Business Objectives<\/h3>\n<ul>\n<li><strong>Business Objective 1:<\/strong> Grow operating margin from 15% to 20% over the next year.<\/li>\n<li><strong>Business Objective 2:<\/strong> Reduce operating costs by 5% over the next quarter<\/li>\n<li><strong>Business Objective 3:<\/strong> Increase the number of new contracts generated by 10% over the next year<\/li>\n<\/ul>\n<h3>3. SWOT Analysis<\/h3>\n<ul>\n<li><strong>Strengths:<\/strong> Available financing, brand visibility and know-how.<\/li>\n<li><strong>Weaknesses:<\/strong> Lack of PPE, human capital and expertise in construction areas such as plumbing, electrical work and masonry, which requires subcontractors.<\/li>\n<li><strong>Opportunities:<\/strong> Lack of environmentally-friendly construction companies in the market.<\/li>\n<li><strong>Threats:<\/strong> Larger construction companies compete for contracts in the area.<\/li>\n<\/ul>\n<h3>4. Action Plan<\/h3>\n<ul>\n<li><strong>Business Objective 1:<\/strong> To grow operating margin, new employees with plumbing, electrical work and masonry experience will be hired to cut down subcontractor costs. This must be done by the end of the first quarter.<\/li>\n<li><strong>Business Objective 2:<\/strong> To reduce operating costs, the company will acquire property, plant and equipment. By doing this, the company will no longer rent equipment from third parties, which will reduce operating costs significantly in the medium and long term.<\/li>\n<li><strong>Business Objective 3:<\/strong> To increase the number of new contracts generated, the leadership team will invest more in the PR, marketing and advertising departments. The company will also invest in key positions for the construction bidding process such as contract estimators.<\/li>\n<li><strong>Financials:<\/strong> This section will explain in detail what are the costs associated with the work items in the action plan as well as the expected financial benefits for the company.<\/li>\n<\/ul>\n<h2>Strategic Plan Template<\/h2>\n<p>Our free <a href=\"\/templates\/strategic-plan-template\">strategic plan template<\/a> helps leadership teams gather important information about their business strategy, which makes it the perfect tool to start shaping a strategic plan for your business or project.<\/p>\n<figure id=\"attachment_64749\" aria-describedby=\"caption-attachment-64749\" style=\"width: 517px\" class=\"wp-caption aligncenter\"><a href=\"\/templates\/strategic-plan-template\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-64749 size-full\" src=\"\/wp-content\/uploads\/2022\/11\/Strategic_Plan_Template_for_Word_Image.png\" alt=\"Strategic Plan Template For Word Image\" width=\"517\" height=\"534\" srcset=\"\/wp-content\/uploads\/2022\/11\/Strategic_Plan_Template_for_Word_Image.png 517w, \/wp-content\/uploads\/2022\/11\/Strategic_Plan_Template_for_Word_Image-300x310.png 300w, \/wp-content\/uploads\/2022\/11\/Strategic_Plan_Template_for_Word_Image-450x465.png 450w\" sizes=\"auto, (max-width: 517px) 100vw, 517px\" \/><\/a><figcaption id=\"caption-attachment-64749\" class=\"wp-caption-text\">Free Strategic Plan template. <a href=\"https:\/\/www.projectmanager.com\/templates\/strategic-plan-template\">Download now<\/a><\/figcaption><\/figure>\n<h2>More Free Strategic Planning Templates<\/h2>\n<p>Here are some free <a href=\"\/blog\/strategic-planning-templates\">strategic planning templates<\/a> for Word and Excel that will help you with key aspects of the strategic planning process. Use them individually or add them to your strategic plan template for Word so you don\u2019t miss any detail about your organizational strategy.<\/p>\n<h3>Strategic Roadmap Template<\/h3>\n<p>This <a href=\"\/templates\/strategic-roadmap-template\">strategic roadmap template<\/a> allows you to map the activities, strategic projects and initiatives that each business department will execute to accomplish the objectives defined in the strategic plan of an organization.<\/p>\n<figure id=\"attachment_69698\" aria-describedby=\"caption-attachment-69698\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><a href=\"\/templates\/strategic-roadmap-template\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-69698 size-medium\" src=\"\/wp-content\/uploads\/2024\/02\/Strategic-Roadmap-Template-for-Excel-ProjectManager-2-600x225.webp\" alt=\"Strategic Roadmap Template For Excel Projectmanager 2 600X225\" width=\"600\" height=\"225\" srcset=\"\/wp-content\/uploads\/2024\/02\/Strategic-Roadmap-Template-for-Excel-ProjectManager-2-600x225.webp 600w, \/wp-content\/uploads\/2024\/02\/Strategic-Roadmap-Template-for-Excel-ProjectManager-2-300x112.webp 300w, \/wp-content\/uploads\/2024\/02\/Strategic-Roadmap-Template-for-Excel-ProjectManager-2-768x287.webp 768w, \/wp-content\/uploads\/2024\/02\/Strategic-Roadmap-Template-for-Excel-ProjectManager-2-1536x575.webp 1536w, \/wp-content\/uploads\/2024\/02\/Strategic-Roadmap-Template-for-Excel-ProjectManager-2-450x168.webp 450w, \/wp-content\/uploads\/2024\/02\/Strategic-Roadmap-Template-for-Excel-ProjectManager-2.webp 1582w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-69698\" class=\"wp-caption-text\">Free Strategic Roadmap template. <a href=\"https:\/\/www.projectmanager.com\/templates\/strategic-roadmap-template\">Download now<\/a><\/figcaption><\/figure>\n<h3>Strategic Map Template<\/h3>\n<p>This <a href=\"\/blog\/strategy-map\">strategic map<\/a> template it\u2019s a strategic planning tool that allows you to visualize all the strategic objectives of your organization and understand how they\u2019re interrelated.<\/p>\n<figure id=\"attachment_69443\" aria-describedby=\"caption-attachment-69443\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><a href=\"\/templates\/strategy-map-template\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-69443 size-medium\" src=\"\/wp-content\/uploads\/2024\/01\/Strategy-Map-Template-600x414.png\" alt=\"strategic map template\" width=\"600\" height=\"414\" srcset=\"\/wp-content\/uploads\/2024\/01\/Strategy-Map-Template-600x414.png 600w, \/wp-content\/uploads\/2024\/01\/Strategy-Map-Template-300x207.png 300w, \/wp-content\/uploads\/2024\/01\/Strategy-Map-Template-768x530.png 768w, \/wp-content\/uploads\/2024\/01\/Strategy-Map-Template-450x310.png 450w, \/wp-content\/uploads\/2024\/01\/Strategy-Map-Template.png 1393w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-69443\" class=\"wp-caption-text\">Free Strategy Map template. <a href=\"https:\/\/www.projectmanager.com\/templates\/strategy-map-template\">Download now<\/a><\/figcaption><\/figure>\n<h3>Balanced Scorecard Template<\/h3>\n<p>A <a href=\"\/blog\/balanced-scorecard-example-template\">balanced scorecard<\/a> is a chart that allows you to set strategic objectives that will benefit your business in one of four key areas, its finances, internal processes, customer satisfaction and organizational learning.<\/p>\n<figure id=\"attachment_69358\" aria-describedby=\"caption-attachment-69358\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><a href=\"\/templates\/balanced-scorecard-template\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-69358 size-medium\" src=\"\/wp-content\/uploads\/2024\/01\/Balanced-scorecard-template-screenshot-600x284.png\" alt=\"Balanced Scorecard Template\" width=\"600\" height=\"284\" srcset=\"\/wp-content\/uploads\/2024\/01\/Balanced-scorecard-template-screenshot-600x284.png 600w, \/wp-content\/uploads\/2024\/01\/Balanced-scorecard-template-screenshot-300x142.png 300w, \/wp-content\/uploads\/2024\/01\/Balanced-scorecard-template-screenshot-768x363.png 768w, \/wp-content\/uploads\/2024\/01\/Balanced-scorecard-template-screenshot-1536x727.png 1536w, \/wp-content\/uploads\/2024\/01\/Balanced-scorecard-template-screenshot-450x213.png 450w, \/wp-content\/uploads\/2024\/01\/Balanced-scorecard-template-screenshot.png 1549w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-69358\" class=\"wp-caption-text\">Free Balanced Scorecard template. <a href=\"https:\/\/www.projectmanager.com\/templates\/balanced-scorecard-template\">Download now<\/a><\/figcaption><\/figure>\n<h3>Vision Statement Template<\/h3>\n<p>The <a href=\"\/blog\/guide-writing-perfect-vision-statement-examples\">vision statement<\/a> is one of the most important aspects of the organizational strategy of a business. It\u2019s a short but powerful statement that describes the overall direction of a company and what it intends to achieve in the future. This free vision statement template will help you focus on what matters most and define the vision of your business.<\/p>\n<figure id=\"attachment_69269\" aria-describedby=\"caption-attachment-69269\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><a href=\"\/templates\/vision-statement-template\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-69269 size-medium\" src=\"\/wp-content\/uploads\/2024\/01\/vision-statement-template-screenshot-600x537.png\" alt=\"Vision Statement Template\" width=\"600\" height=\"537\" srcset=\"\/wp-content\/uploads\/2024\/01\/vision-statement-template-screenshot-600x537.png 600w, \/wp-content\/uploads\/2024\/01\/vision-statement-template-screenshot-300x269.png 300w, \/wp-content\/uploads\/2024\/01\/vision-statement-template-screenshot-768x688.png 768w, \/wp-content\/uploads\/2024\/01\/vision-statement-template-screenshot-450x403.png 450w, \/wp-content\/uploads\/2024\/01\/vision-statement-template-screenshot.png 1216w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-69269\" class=\"wp-caption-text\">Free Vision Statement template. <a href=\"https:\/\/www.projectmanager.com\/templates\/vision-statement-template\">Download now<\/a><\/figcaption><\/figure>\n<h2 id=\"section-6\">Strategic Plan vs. Business Plan<\/h2>\n<p>A strategic plan is a type of business plan, but there are distinctions between the two. Whereas a strategic plan is for implementing and managing the strategic direction of a business, <a href=\"https:\/\/www.projectmanager.com\/project-planning\">a business plan<\/a> is more often the document that starts a business.<\/p>\n<p>A business plan is used primarily to get funding for the venture or direct the operation, and the two plans target different timeframes in business history. A strategic plan is used to investigate a future period, usually between three-to-five years. A business plan is more routinely a year out.<\/p>\n<h3>A Different Intent<\/h3>\n<p>A strategic plan offers a business focus, direction and action to <a href=\"https:\/\/www.projectmanager.com\/training\/how-to-scale-your-business\" target=\"_blank\" rel=\"noopener noreferrer\">help the business grow<\/a> from the point it presently resides to a greater market share in the future. A business plan, on the other hand, is more focused on offering a structure to capture and implement ideas that initially define a business.<\/p>\n<p>With a strategic plan, existing <a href=\"https:\/\/www.projectmanager.com\/resource-management\" target=\"_blank\" rel=\"noopener noreferrer\">resources are prioritized<\/a> to increase revenue and return on investment. The business plan is different in that it\u2019s seeking funding for a venture that doesn\u2019t yet exist. Where a strategic plan is building a sustainable competitive advantage in the future, a business plan is designed to take advantage of a current business opportunity.<\/p>\n<p>So, a strategic plan is communicating direction to <a href=\"https:\/\/www.projectmanager.com\/stakeholder-management\">teams and stakeholders<\/a> in order to achieve future goals. A business plan isn\u2019t talking to staff, which is likely nonexistent or minimal at this point. It\u2019s speaking to banks and other financial supporters.<\/p>\n<h2>Related Strategic Planning Content<\/h2>\n<ul>\n<li><a href=\"\/blog\/strategic-project-management\">Strategic Project Management: Planning Strategic Projects<\/a><\/li>\n<li><a href=\"\/blog\/strategic-planning-models\">Strategic Planning Models: An Introduction to 5 Popular Models<\/a><\/li>\n<li><a href=\"\/blog\/strategic-initiatives\">A Quick Guide to Strategic Initiatives<\/a><\/li>\n<li><a href=\"\/blog\/strategic-roadmap\">How to Create a Strategic Roadmap for Your Organization<\/a><\/li>\n<li><a href=\"\/blog\/how-to-align-your-project-to-business-strategy\">Project Alignment: Aligning Your Project to Business Strategy<\/a><\/li>\n<\/ul>\n<p><em>Strategic planning, like any planning, requires keeping a lot of balls in the air. That means having the right tool to plan, monitor and report on all the various tasks and resources. <a href=\"https:\/\/www.projectmanager.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">ProjectManager<\/a> is online project management software that gives you control over every aspect of creating and implementing a strategic plan. <a href=\"https:\/\/www.projectmanager.com\/freetrial?edition=d&amp;cycle=year\" target=\"_blank\" rel=\"noopener noreferrer\">Try it today with this free 30-day trial. <\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Strategic planning is key for success in business. By planning strategically for the future, a business can achieve its goals&#8230;.<br \/><a class=\"excerpt-read-more button blue\" href=\"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business\">Read More<\/a><\/p>\n","protected":false},"author":18,"featured_media":40965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":0,"_yoast_wpseo_canonical":"","_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_opengraph-image":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":"","head_code_insert":"","footnotes":""},"categories":[278,195,131],"tags":[],"class_list":["post-40848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-planning","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.3 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Strategic Planning in Business - ProjectManager<\/title>\n<meta name=\"description\" content=\"Strategic planning can turn a business dream into a reality. Read on to learn what it takes to make a successful strategic plan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strategic Planning in Business\" \/>\n<meta property=\"og:description\" content=\"Strategic planning can turn a business dream into a reality. Read on to learn what it takes to make a successful strategic plan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business\" \/>\n<meta property=\"og:site_name\" content=\"ProjectManager\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/projectmanage\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-15T18:00:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-27T16:56:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.projectmanager.com\/wp-content\/uploads\/2019\/01\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"788\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Peter Landau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Peter Landau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business\"},\"author\":{\"name\":\"Peter Landau\",\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/#\\\/schema\\\/person\\\/83c2340d10ac161661864c1938cd4953\"},\"headline\":\"Strategic Planning in Business\",\"datePublished\":\"2022-08-15T18:00:14+00:00\",\"dateModified\":\"2026-04-27T16:56:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business\"},\"wordCount\":2341,\"publisher\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business#primaryimage\"},\"thumbnailUrl\":\"\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg\",\"articleSection\":[\"Business\",\"Planning\",\"Project Management Blog\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business\",\"url\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business\",\"name\":\"Strategic Planning in Business - ProjectManager\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business#primaryimage\"},\"thumbnailUrl\":\"\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg\",\"datePublished\":\"2022-08-15T18:00:14+00:00\",\"dateModified\":\"2026-04-27T16:56:20+00:00\",\"description\":\"Strategic planning can turn a business dream into a reality. Read on to learn what it takes to make a successful strategic plan.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business#primaryimage\",\"url\":\"\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg\",\"contentUrl\":\"\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg\",\"width\":1400,\"height\":788,\"caption\":\"Feature Business Planning\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/blog\\\/strategic-planning-in-business#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.projectmanager.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Strategic Planning in Business\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/#website\",\"url\":\"https:\\\/\\\/www.projectmanager.com\\\/\",\"name\":\"ProjectManager\",\"description\":\"The Best Project Management Software for Managing your Projects\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.projectmanager.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/#organization\",\"name\":\"ProjectManager\",\"url\":\"https:\\\/\\\/www.projectmanager.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/ProjectManager-Logo-for-Website.png\",\"contentUrl\":\"\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/ProjectManager-Logo-for-Website.png\",\"width\":696,\"height\":696,\"caption\":\"ProjectManager\"},\"image\":{\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/projectmanage\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/projectmanager.com\\\/\",\"https:\\\/\\\/www.youtube.com\\\/user\\\/projectmanagervideos\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/ProjectManager.com\"],\"description\":\"ProjectManager is a project and portfolio management software that offers online project management tools like Gantt charts, dashboards, kanban boards, task management features and more. With advanced planning and scheduling, automated cost and time tracking, risk analysis and resource management, our platform ensures flawless execution for construction, manufacturing and professional services teams, while providing unbeatable insights at every stage.\",\"legalName\":\"ProjectManager.com, Inc.\",\"foundingDate\":\"2008-01-01\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"11\",\"maxValue\":\"50\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.projectmanager.com\\\/#\\\/schema\\\/person\\\/83c2340d10ac161661864c1938cd4953\",\"name\":\"Peter Landau\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/7521970efa63d95fa368e8426d2b1e51db76ddf997de4e0377dc781de5d97489?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/7521970efa63d95fa368e8426d2b1e51db76ddf997de4e0377dc781de5d97489?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/7521970efa63d95fa368e8426d2b1e51db76ddf997de4e0377dc781de5d97489?s=96&d=mm&r=g\",\"caption\":\"Peter Landau\"},\"description\":\"Peter is the Content Editor at ProjectManager.com. He has worked as a writer and editor on print, digital and mobile platforms for both consumer and trade publications.\",\"sameAs\":[\"https:\\\/\\\/pmargo.wpengine.com\",\"https:\\\/\\\/www.linkedin.com\\\/pub\\\/peter-landau\\\/3\\\/572\\\/12\"],\"knowsAbout\":[\"Project management\",\"Project planning\",\"Blogs\"],\"knowsLanguage\":[\"English\"],\"jobTitle\":\"Project Management Expert Writer\",\"worksFor\":\"ProjectManager.com\",\"url\":\"https:\\\/\\\/www.projectmanager.com\\\/author\\\/peterlandau\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Strategic Planning in Business - ProjectManager","description":"Strategic planning can turn a business dream into a reality. Read on to learn what it takes to make a successful strategic plan.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business","og_locale":"en_US","og_type":"article","og_title":"Strategic Planning in Business","og_description":"Strategic planning can turn a business dream into a reality. Read on to learn what it takes to make a successful strategic plan.","og_url":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business","og_site_name":"ProjectManager","article_publisher":"https:\/\/www.facebook.com\/projectmanage\/","article_published_time":"2022-08-15T18:00:14+00:00","article_modified_time":"2026-04-27T16:56:20+00:00","og_image":[{"width":1400,"height":788,"url":"https:\/\/www.projectmanager.com\/wp-content\/uploads\/2019\/01\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg","type":"image\/jpeg"}],"author":"Peter Landau","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Peter Landau","Est. reading time":"12 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business#article","isPartOf":{"@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business"},"author":{"name":"Peter Landau","@id":"https:\/\/www.projectmanager.com\/#\/schema\/person\/83c2340d10ac161661864c1938cd4953"},"headline":"Strategic Planning in Business","datePublished":"2022-08-15T18:00:14+00:00","dateModified":"2026-04-27T16:56:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business"},"wordCount":2341,"publisher":{"@id":"https:\/\/www.projectmanager.com\/#organization"},"image":{"@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business#primaryimage"},"thumbnailUrl":"\/wp-content\/uploads\/2019\/01\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg","articleSection":["Business","Planning","Project Management Blog"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business","url":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business","name":"Strategic Planning in Business - ProjectManager","isPartOf":{"@id":"https:\/\/www.projectmanager.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business#primaryimage"},"image":{"@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business#primaryimage"},"thumbnailUrl":"\/wp-content\/uploads\/2019\/01\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg","datePublished":"2022-08-15T18:00:14+00:00","dateModified":"2026-04-27T16:56:20+00:00","description":"Strategic planning can turn a business dream into a reality. Read on to learn what it takes to make a successful strategic plan.","breadcrumb":{"@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business#primaryimage","url":"\/wp-content\/uploads\/2019\/01\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg","contentUrl":"\/wp-content\/uploads\/2019\/01\/190107_Blog_Feature_Business_Planning-e1572964878330.jpg","width":1400,"height":788,"caption":"Feature Business Planning"},{"@type":"BreadcrumbList","@id":"https:\/\/www.projectmanager.com\/blog\/strategic-planning-in-business#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.projectmanager.com\/"},{"@type":"ListItem","position":2,"name":"Strategic Planning in Business"}]},{"@type":"WebSite","@id":"https:\/\/www.projectmanager.com\/#website","url":"https:\/\/www.projectmanager.com\/","name":"ProjectManager","description":"The Best Project Management Software for Managing your Projects","publisher":{"@id":"https:\/\/www.projectmanager.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.projectmanager.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.projectmanager.com\/#organization","name":"ProjectManager","url":"https:\/\/www.projectmanager.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.projectmanager.com\/#\/schema\/logo\/image\/","url":"\/wp-content\/uploads\/2026\/06\/ProjectManager-Logo-for-Website.png","contentUrl":"\/wp-content\/uploads\/2026\/06\/ProjectManager-Logo-for-Website.png","width":696,"height":696,"caption":"ProjectManager"},"image":{"@id":"https:\/\/www.projectmanager.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/projectmanage\/","https:\/\/www.linkedin.com\/company\/projectmanager.com\/","https:\/\/www.youtube.com\/user\/projectmanagervideos","https:\/\/en.wikipedia.org\/wiki\/ProjectManager.com"],"description":"ProjectManager is a project and portfolio management software that offers online project management tools like Gantt charts, dashboards, kanban boards, task management features and more. With advanced planning and scheduling, automated cost and time tracking, risk analysis and resource management, our platform ensures flawless execution for construction, manufacturing and professional services teams, while providing unbeatable insights at every stage.","legalName":"ProjectManager.com, Inc.","foundingDate":"2008-01-01","numberOfEmployees":{"@type":"QuantitativeValue","minValue":"11","maxValue":"50"}},{"@type":"Person","@id":"https:\/\/www.projectmanager.com\/#\/schema\/person\/83c2340d10ac161661864c1938cd4953","name":"Peter Landau","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/7521970efa63d95fa368e8426d2b1e51db76ddf997de4e0377dc781de5d97489?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/7521970efa63d95fa368e8426d2b1e51db76ddf997de4e0377dc781de5d97489?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7521970efa63d95fa368e8426d2b1e51db76ddf997de4e0377dc781de5d97489?s=96&d=mm&r=g","caption":"Peter Landau"},"description":"Peter is the Content Editor at ProjectManager.com. He has worked as a writer and editor on print, digital and mobile platforms for both consumer and trade publications.","sameAs":["https:\/\/pmargo.wpengine.com","https:\/\/www.linkedin.com\/pub\/peter-landau\/3\/572\/12"],"knowsAbout":["Project management","Project planning","Blogs"],"knowsLanguage":["English"],"jobTitle":"Project Management Expert Writer","worksFor":"ProjectManager.com","url":"https:\/\/www.projectmanager.com\/author\/peterlandau"}]}},"_links":{"self":[{"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/posts\/40848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/comments?post=40848"}],"version-history":[{"count":0,"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/posts\/40848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/media\/40965"}],"wp:attachment":[{"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/media?parent=40848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/categories?post=40848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.projectmanager.com\/wp-json\/wp\/v2\/tags?post=40848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}