{"id":1161,"date":"2025-06-16T15:31:45","date_gmt":"2025-06-16T13:31:45","guid":{"rendered":"https:\/\/wpbeyond.esade.edu\/?p=1161"},"modified":"2025-06-16T15:33:51","modified_gmt":"2025-06-16T13:33:51","slug":"what-is-strategic-planning-heres-how-to-do-it-step-by-step","status":"publish","type":"post","link":"https:\/\/wpbeyond.azurewebsites.net\/en\/what-is-strategic-planning-heres-how-to-do-it-step-by-step\/","title":{"rendered":"What is strategic planning? Here\u2019s how to do it, step-by-step"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p>Strategic planning is critical to the success of any business. Understanding the relevant phases, goals and available tools lays the foundation for effectively managing projects and businesses. <\/p>\n\n<p>In this article, we will explore <strong>what strategic planning is<\/strong>, the <strong>steps to take to carry it out<\/strong> and its <strong>main benefits<\/strong>. For those who want to develop a career in <strong>business strategy, marketing and sales<\/strong> or <strong>business startups<\/strong>, it\u2019s essential reading. <\/p>\n\n<h2 class=\"wp-block-heading\">Definition of strategic planning<\/h2>\n\n<p>Strategic planning is defined as a process that allows companies to <strong>set long-term goals and design the strategies needed to achieve them. <\/strong><\/p>\n\n<p>This process includes different phases, which we will analyze in the next section using an <strong>example of the strategic planning of a fictitious company<\/strong>. <\/p>\n\n<div class=\"wp-block-group post-highlight is-vertical is-layout-flex wp-container-core-group-is-layout-8cf370e7 wp-block-group-is-layout-flex\">\n<h2 class=\"wp-block-heading\">Phases and steps of strategic planning<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1. Analysis of the environment<\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">2. Definition of mission, vision and values<\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">3. Setting strategic objectives<\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">4. Strategy development and implementation<\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">5. Evaluation<\/h3>\n\n\n\n<p><\/p>\n<\/div>\n\n<h3 class=\"wp-block-heading\">#1 Analysis of the environment<\/h3>\n\n<p>The first step in strategic planning is to <strong>understand the environment in which the company operates and its position<\/strong> in this environment. This involves conducting a <strong>SWOT analysis<\/strong> \u2013\u00ad <strong>Strengths<\/strong>, <strong>Weaknesses<\/strong>, <strong>Opportunities<\/strong> and <strong>Threats<\/strong>\u00ad: <\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;A SWOT analysis allows us to understand both the internal and external aspects that can affect the success of the strategic plan.&#8221;<\/p>\n<\/blockquote>\n\n<p>Let&#8217;s look at an example. Imagine we\u2019re developing the <strong>strategic plan of a sustainable packaging manufacturing company<\/strong>. The SWOT analysis could be as follows:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Strengths: <\/strong>The extensive experience of the management team, a solid knowledge of the market and an extensive network of contacts in the sustainability industry.<\/li>\n\n\n\n<li><strong>Weaknesses:<\/strong> Limited production capacity compared to larger competitors, which may delay deliveries. <\/li>\n\n\n\n<li><strong>Opportunities: <\/strong>Growing demand in emerging markets. More consumers are looking for sustainable options, which opens up opportunities to expand into local or international markets.<\/li>\n\n\n\n<li><strong>Threats: <\/strong>Entry of new competitors with more aggressive prices and more agility in delivery processes. There may also be unfavorable regulatory changes in the sector.<\/li>\n<\/ul>\n\n<h3 class=\"wp-block-heading\">#2 Definition of mission, vision and values<\/h3>\n\n<p><strong>A clear mission defines the company&#8217;s purpose<\/strong> and <strong>the vision leads to where it wants to be in the future<\/strong>. <strong>Values represent the principles<\/strong> that will guide the organization on its path.<\/p>\n\n<p>If we follow the example of our fictitious company:<\/p>\n\n<ul class=\"wp-block-list\">\n<li>Its <strong>mission<\/strong> could be: &#8220;To offer innovative solutions in ecological packaging that respect the environment, add value to our customers, promote more responsible consumption, and actively contribute to global sustainability&#8221;.<\/li>\n\n\n\n<li>The company&#8217;s <strong>vision<\/strong> could be: <strong>\u201c<\/strong>To be a leader in the sustainable packaging industry, recognized for our innovation and commitment to the environment, our ability to transform the way the world uses resources, and setting a standard for the circular economy.&#8221;<\/li>\n\n\n\n<li>Its <strong>values<\/strong> would be sustainability, innovation, quality, transparency and collaboration.<\/li>\n<\/ul>\n\n<h3 class=\"wp-block-heading\">#3 Setting the strategic objectives<\/h3>\n\n<p>The next step is to define the strategic objectives. Goals should be specific, measurable, achievable, relevant, and time-bound: SMART goals. Some examples of SMART goals for the strategic planning of our eco-friendly packaging company would be:  <\/p>\n\n<ul class=\"wp-block-list\">\n<li>Increase sales by 20% over the next 12 months.<\/li>\n\n\n\n<li>Introduce products into three new European markets within 24 months, reaching a turnover of one million euros in these markets by the end of the period.<\/li>\n\n\n\n<li>Increase brand recognition by 30% in the eco-conscious consumer segment over the next 12 months, using digital marketing campaigns and alliances with NGOs.<\/li>\n<\/ul>\n\n<h3 class=\"wp-block-heading\">#4 Strategy development and implementation<\/h3>\n\n<p>Next, we must <strong>design and implement a detailed action plan to achieve the objectives we\u2019ve set.<\/strong> This is where strategy moves from theory to practice and establishes the required resources, tasks and people responsible. <\/p>\n\n<p>Bearing in mind the SMART objectives related to the strategic planning of our fictitious company, we could establish the following:<\/p>\n\n<p><strong>Strategic objective: <\/strong>To increase sales of eco-friendly packaging by 20% over the next 12 months.<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Action plan: <\/strong>Launch a new line of packaging for organic products.<\/li>\n\n\n\n<li><strong>Specific tasks: <\/strong>Design prototypes with biodegradable materials (estimated time: two months). Conduct quality tests and obtain necessary certifications (one month). Establish partnerships with organic farmers and local distributors (one month).  <\/li>\n\n\n\n<li><strong>Resources needed: <\/strong>R&amp;D team; budget of \u20ac50,000 for development and certifications; dedicated sales team.<\/li>\n\n\n\n<li><strong>Responsibility:<\/strong> The innovation department will lead the design. The sales team will manage alliances with potential customers. <\/li>\n<\/ul>\n\n<h3 class=\"wp-block-heading\">#5 Strategy evaluation<\/h3>\n\n<p>Finally, it is crucial to review and measure the results obtained. Establishing key performance indicators (KPIs) allows us to evaluate the strategy and make the necessary adjustments to ensure the company stays on track and achieves its goals.<\/p>\n\n<p>To carry out this monitoring, there are several <a href=\"https:\/\/www.esade.edu\/beyond\/en\/the-5-project-management-methodologies-you-should-know\/\">project management methodologies<\/a>, such as Agile, Scrum, PMI\/PMBOK and others.<\/p>\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"620\" src=\"\/wp-content\/uploads\/2025\/06\/grupo-de-ejecutivos-de-negocios-en-una-sala-de-reuniones.jpg\" alt=\"A group of business executives in a meeting room\" class=\"wp-image-1155\" srcset=\"\/wp-content\/uploads\/2025\/06\/grupo-de-ejecutivos-de-negocios-en-una-sala-de-reuniones.jpg 1000w, \/wp-content\/uploads\/2025\/06\/grupo-de-ejecutivos-de-negocios-en-una-sala-de-reuniones-300x186.jpg 300w, \/wp-content\/uploads\/2025\/06\/grupo-de-ejecutivos-de-negocios-en-una-sala-de-reuniones-768x476.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">A group of business executives in a meeting room, discussing strategy with printed reports and computer screens displaying key data.<\/figcaption><\/figure>\n\n<h2 class=\"wp-block-heading\">Main objectives of strategic planning<\/h2>\n\n<p>The overall objective of good strategic planning is to plot the company&#8217;s path towards achieving its objectives. Within this plan are three main objectives: <strong><\/strong><\/p>\n\n<h3 class=\"wp-block-heading\">#1 Improve decision-making<\/h3>\n\n<p>Strategic planning helps companies to make informed decisions that are aligned with long-term goals.<\/p>\n\n<h3 class=\"wp-block-heading\">#2 Identify opportunities and challenges<\/h3>\n\n<p>This process, especially the SWOT analysis phase, allows organizations to identify and take advantage of opportunities and anticipate potential challenges in the market.<\/p>\n\n<h3 class=\"wp-block-heading\">#3 Evaluate performance<\/h3>\n\n<p>Establishing and monitoring KPIs makes it easier to track progress and identify areas requiring improvement.<\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;In an ever-changing business world, strategic planning is the foundation of resilience.&#8221;<\/p>\n<\/blockquote>\n\n<h2 class=\"wp-block-heading\">The importance of a company&#8217;s strategic planning<\/h2>\n\n<p>Strategic planning is vital for a company. It maps out its vision and offers a realistic plan of the strategies and actions necessary to turn the vision into reality. Advantages include: <\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Long-term vision:<\/strong> Allows companies to anticipate changes in the environment and define a clear course towards achieving agreed objectives.<\/li>\n\n\n\n<li><strong>Greater discretion in decision-making: <\/strong>Provides a structured framework to facilitate informed decision-making that\u2019s aligned with the overall strategy.<\/li>\n\n\n\n<li><strong>Optimization of resources: <\/strong>Helps to efficiently distribute financial, human and material resources and maximize results.<\/li>\n\n\n\n<li><strong>Align teams with company objectives: <\/strong>Ensures all departments work towards common goals, improving internal collaboration.<\/li>\n\n\n\n<li><strong>Adaptability: <\/strong>Facilitates the identification of risks and opportunities and enables agility in response to market challenges.<\/li>\n<\/ul>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Strategic planning not only leads the way, but ensures that every step taken by different departments is aligned with a larger goal.&#8221;<\/p>\n<\/blockquote>\n\n<h2 class=\"wp-block-heading\">Strategic planning: essential for managers and entrepreneurs<\/h2>\n\n<p>As we mentioned at the beginning of the article, understanding the elements of strategic planning is essential for those who want to develop a career in <strong>business strategy, marketing and sales, or business startups.<\/strong><\/p>\n\n<p>Esade offers several prestigious training programs to introduce students to specialized business training. Programs such as the <a href=\"https:\/\/www.esade.edu\/bachelor\/en\/programmes\/business-administration?utm_source=Webutm_medium=utm_campaign=trans-awareness-beyond_seo_contenidos-mix-blogutm_content=transversal-audience_mixutm_term=articulo-blog_beyond\" target=\"_blank\" rel=\"noreferrer noopener\">Bachelor of Business Administration<\/a>, the <a href=\"https:\/\/www.esade.edu\/bachelor\/en\/programmes\/double-degree-in-business-administration-law?utm_source=Web&amp;utm_medium=&amp;utm_campaign=trans-awareness-beyond_seo_contenidos-mix-blog&amp;utm_content=transversal-audience_mix&amp;utm_term=articulo-blog_beyond\" target=\"_blank\" rel=\"noreferrer noopener\">Double Degree in Business Adminsitration and Law<\/a> and the <a href=\"https:\/\/www.esade.edu\/executive-education\/es\/executive-master\/executive-master-en-marketing-y-ventas-emmv?utm_source=Web&amp;utm_medium=&amp;utm_campaign=trans-awareness-beyond_seo_contenidos-mix-blog&amp;utm_content=transversal-audience_mix&amp;utm_term=articulo-blog_beyond\" target=\"_blank\" rel=\"noreferrer noopener\">Spanish-language Executive Master en Marketing y Ventas<\/a> provide the tools and expert knowledge necessary to lead projects, departments or companies and successfully achieve strategic objectives. <\/p>\n\n<p>The programs offer practical examples and real cases that cover the challenges of strategic planning, the definition of SMART objectives and up-to-date monitoring and management tools used by businesses.<\/p>\n\n<p><strong>Ask us how we can help boost your career in the business field. With Esade&#8217;s specialized training, you will help your company or startup successfully achieve its strategic objectives.<\/strong><a id=\"_msocom_1\"><\/a><\/p>\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Strategic planning is critical to the success of any business. Understanding the relevant phases, goals and available tools lays the foundation for effectively managing projects and businesses. In this article, we will explore what strategic planning is, the steps to take to carry it out and its main benefits. For those who want to develop [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1154,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23],"tags":[],"class_list":["post-1161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inspiring-business"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is strategic planning? \u2013 Beyond by Esade<\/title>\n<meta name=\"description\" content=\"Discover how to carry out effective strategic planning step-by-step - and why it&#039;s so important for business success.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wpbeyond.azurewebsites.net\/en\/what-is-strategic-planning-heres-how-to-do-it-step-by-step\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is strategic planning? \u2013 Beyond by Esade\" \/>\n<meta property=\"og:description\" content=\"Discover how to carry out effective strategic planning step-by-step - and why it&#039;s so important for business success.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wpbeyond.azurewebsites.net\/en\/what-is-strategic-planning-heres-how-to-do-it-step-by-step\/\" \/>\n<meta property=\"og:site_name\" content=\"Beyond by Esade\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-16T13:31:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-16T13:33:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wpbeyond.azurewebsites.net\/wp-content\/uploads\/2025\/06\/mano-mueve-una-pieza-de-ajedrez-estrategicamente.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Yasmina\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":[\"Article\",\"BlogPosting\"],\"@id\":\"https:\\\/\\\/wpbeyond.azurewebsites.net\\\/en\\\/what-is-strategic-planning-heres-how-to-do-it-step-by-step\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/wpbeyond.azurewebsites.net\\\/en\\\/what-is-strategic-planning-heres-how-to-do-it-step-by-step\\\/\"},\"author\":{\"name\":\"Yasmina\",\"@id\":\"https:\\\/\\\/wpbeyond.esade.edu\\\/es\\\/#\\\/schema\\\/person\\\/92445ad2e57388b7600c91d3bb0d5009\"},\"headline\":\"What is strategic planning? 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