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Elate puts everything you need to build your Strategic Plan right at your fingertips. From setting your long-term vision and annual goals to tracking quarterly objectives, it’s never been easier to create a plan that helps you reach your goals.
Rather than working out of dozens of spreadsheets or endless presentations, Elate helps you build a simple, intuitive plan that can be easily shared with team members.
Without a well-defined strategic plan, any endeavor’s success will be somewhat limited. In reality, strategic planning provides the basic framework and foundation for positive short- and long-term outcomes. And while there is more than one strategic planning process model you can choose from—SWOT is arguably the most commonly-adopted example—success is impacted by one element more than any other.
Among the key elements needed to support the implementation of a strategic plan, one stands above the rest—pursuing one or more well-defined strategic objectives.
What is the role of these objectives, and how do you set the right goals for your business? As its own core objective, this blog should answer those questions and more. Let’s jump in.
There are several well-known strategic planning frameworks—each of which involves setting and working toward beneficial outcomes. Common examples of the strategic planning process include models such as:
What do each of these have in common? Primarily, the success (or failure) of each strategic process model example depends heavily on defining a clear objective and outlining concrete, actionable steps to achieve it.
There are 3 steps of strategic planning that are key to success, each of which is closely tied to the all-important goals you identify—and set:
This important first step in any strategic planning process involves identifying potential pain points to remedy and/or growth-based objectives. The best objectives to focus on are SMART. In other words, these goals are…
For example, increasing sales isn’t exactly a SMART objective. While it could be argued that this objective is specific, measurable, achievable, relevant, and timely, it could certainly be improved.
What, exactly, does “increasing sales” look like? Would increasing sales-based revenue by 1% cut it, or would 1% only be a drop in the proverbial bucket?
And when does this increase need to occur? For example, do you need to see a measurable increase by the end of the quarter, or by this time next year?
A better SMART objective would clarify these matters. Here’s what that could look like:
By the end of Q4, we need to increase monthly recurring revenue by 15%.
Once you’ve zeroed in on the right SMART goal, it’s time to outline the actual plan for achieving it! This step involves a few key activities, including:
Elate empowers organizations with dynamic tools for strategic planning. By leveraging Elate’s platform, companies can get everyone out of their operational silos, enabling the type of true collaboration success requires. You can set key objectives, align responsibilities, and much more.
As the strategic plan is underway, it’s important to keep an eye on key performance indicators, so the plan can be adjusted if necessary. When it comes to tracking performance, there are two main concerns:
By using Elate’s intuitive platform, companies can turn execution into a competitive advantage. Offering a full arsenal of engagement, collaboration, and reporting tools, Elate can be a powerful resource for forward-thinking organizations that are ready to learn, grow, and improve.
There’s no way around it. Achieving your goals—whether they target modest improvements or transformative growth—requires a modern toolset. Elate offers a single, intuitive platform with sophisticated, built-in tools for building, executing, and reviewing strategic plans. It was built to provide a comprehensive strategic planning framework to tear down silos, unite your team, and drive success.