8 tools for strategic planning
The tools to perform strategic planning allow companies and work teams in general to gain an advantage over their competition. These can be developed in the short, medium and long term, and are necessary for optimal growth.
Tools for strategic planning
1. The tripod: vision, mission and values
It is important to be able to define these three elements to establish each of the business strategies. These range from the different commercial operations, then to the market positioning and finally, the employees and their motivation. It is a necessary tool to create creative, unique and efficient businesses.
2. Porter’s different forces
Know well what are the strengths of your business and the aspects that can beat the competition. Porter’s forces were developed by planning experts. These make the entrepreneur reflect on the aspects that affect the business directly.
There are 5 forces: the bargaining power of customers and suppliers themselves, the threat of substitute products and new entrants, and the rivalry that exists between competitors.
3. SWOT analysis
SWOT means “strength, which is the analysis of your strengths and weaknesses, to identify all the challenges that may arise; opportunities, those that your business has to open the doors to new projects and strategies; Threats, this is the most important, count those that may affect the organization.
This tool is the one that gives the entrepreneur information about his business and in what context it is found.
4. 360 ° business analysis
With this type of analysis you can verify which ideas are more viable or not. New ideas always come up but it doesn’t mean that they are the most beneficial. These can bring advantages to customers. Also, if the market and its size allow implementation and if the new business will be profitable.
5. Applications and software
Having these tools can provide, when performing control actions, greater efficiency. This before the strategic planning, the generation of information and the monitoring of tasks performed by employees; among other different aspects that are relevant for the business to progress.
6. The PESTEL model
This consists of evaluating the organization’s industry for preparation for opportunities and prevention of threats. As Ariel Pfeffer says: “An organization without preparation is doomed to failure.”
7. The VRIO analysis
It relates to the vision statement. Its objective is to define what competitive advantages exist in the market. You must think about value, uniqueness, imitability and the organization that is in it. This will help you to overcome the elements that are additional in the strategy.
8. The “Blue Ocean” strategy
Its purpose is to enable organizations to develop in an “uncontested market”. This environment can mean massively increasing value for your business, employees, and buyers.