Strategic Planning Overview

Strategic planning plays a paramount role in any organization for the purpose of setting futuristic goals inspired by the vision, mission, and core values of the company. The effectiveness of a company's top management in strategic planning is what determines its long-term success. Furthermore, business leaders subscribe to different strategic planning models in the best interest of their organizations. To elaborate, a strategic planning model provides an outline of the approach that an organization takes to identify and improvise on its strategic plans for optimizing operational efficiency keeping long-term gains in mind.

List of 20 important Strategic Planning Models

Porter five forces framework
Model 1

Porter Five Forces Model

In this elucidation of the Porter Five Forces Model, you will learn in detail about this analysis model and how organizations use it to evaluate their competitive positioning. The description is further supported by pragmatic exemplification of its application.

How to do VRIO Analysis
Model 2

VRIO Analysis

This article puts forth a comprehensive explanation of the VRIO Framework that companies apply as a methodology for the internal analysis of their competencies. Also, the process of application is elucidated with a practical illustration.

Application of Blue Ocean Strategy
Model 3

Blue Ocean Strategy

Blue Ocean Strategy is an extensively used planning model that organizations apply to explore untapped markets. This article sheds light on the detailed explanation of the model inclusive of its stepwise application via a real-world example.

Application of Baldrige Excellence Model
Model 4

Baldrige Excellence Model

In this article, you will find a great opportunity to learn about the Baldrige Excellence Model comprehensively and understand its true implications within an organization. Further, the elaboration is supported by a highly relevant example.

Need of Balanced Scorecard
Model 5

Balanced Scorecard

This article features a holistic understanding of the Balanced Scorecard that can be applied by organizations for strategic planning. Further, it sheds light on the significance of the model in addition to the steps involved in its implementation.

Application of Strategic Map
Model 6

Strategic Map

In this article, you will be able to acquire an effective understanding of the Strategy Map using which organizations are able to map or visualize their plans and objectives. The importance and implications of the model are also explained.

How to use Basic Strategic Planning Model
Model 7

Basic Strategic Planning Model

This column puts forth a holistic view of the Basic Strategic Planning Model implemented by organizations to plan their future actions. To add, the vitality and the execution of the model have been presented in a concise and practical manner.

Application of Strategic Alignment Model
Model 8

Strategic Alignment Model

This article offers comprehensive learning in the significance and relevance of the Strategic Alignment Model that organizations execute for efficient alignment of objectives. Also, the application of the model is presented in the context of McDonald’s.

Application of Issue-based Strategic Planning Model
Model 9

Issue-based Strategic Planning Model

In this column, you will effectively learn what the Issue-Based Strategic Planning Model is, why it is needed by organizations, and the procedures its implementation follows. To add, a realistic example is discussed for great clarity.

how to do PESTLE analysis
Model 10

PESTLE Model

This article puts forth a lucid explanation of the PESTLE Model that organizations extensively use as an external analysis tool to evaluate the influence of external factors on business. The significance of the model is also explained.

Steps of Scenario modelling
Model 11

Scenario Modelling

In this article, you will get to learn about the concept of Scenario Modeling as a strategic planning technique. Besides, the need for this tool and the steps related to its incorporation are also discussed with a pragmatic example.

Application of Strategic Gap Analysis
Model 12

Strategic Gap Analysis

In this article, practical knowledge pertaining to Strategic Gap Analysis carried out by organizations to identify performance gaps is rendered. Furthermore, the vitality of the analysis model for organizational success is also discussed via exemplification.

How to use Ansoff Matrix
Model 13

Ansoff Matrix

This column extends to you a conducive learning opportunity to comprehend the Ansoff Matrix, a widely implemented business tool for planning and evaluating organizational strategies. The need for the framework is also explained through an illustration.

Benefits of SWOT analysis in strategic planning
Model 14

SWOT Analysis

SWOT analysis is a popular strategic planning tool executed by organizations at regular intervals. In this article, you will learn extensively about this model with attention to every detail linked to its effective implementation and advantages.

Steps of OKR framework
Model 15

OKRs (Objectives and Key Results)

In the corporate world, Objectives and Key Results make a crucial framework that enables organizations to set key goals and objectives for the future. This article explains each dimension of OKRs inclusive of their development, merits, and execution.

Application of McKinsey 7s model
Model 16

Mckinsey 7s framework

In this article, you will get access to worthwhile and practical knowledge of the McKinsey 7S Framework that organizations apply for internal analysis and planning. Each of the seven dimensions is explained with its relevance and influence.

How to use BCG matrix
Model 17

BCG Matrix

This article offers insightful knowledge about the BCG Matrix, an effective planning model used by organizations. Further, you will find a well-laid down guide for the application of the model complemented by a real-world example.

Application of GE Mckinsey Matrix
Model 18

GE Mckinsey Matrix

In this article, you will be introduced to a comprehensive description of the GE McKinsey Matrix and how it can be vital for organizations to develop effective strategic plans. Besides, an illustration of its application is presented through the example of Apple.

Business strategies in Bowman’s Strategy Clock
Model 19

Bowman’s Strategy Clock

This column elucidates the concept of Bowman’s Strategy Clock and how it is applied in the business world as a reliable strategic planning tool. To add, the advantages of the model are also highlighted through an illustration of its execution.

Need and Application of MOST analysis
Model 20

MOST Analysis

In this article, you will learn about MOST Analysis, an extensively applied strategic planning model among organizational practices. It presents a lucid description of the model facilitated by a real example that explains its importance and implementation.

Conclusion

To sum up it is seen that there are a number of strategic planning tools that can be used by the organization to plan its business Strategies for improving the business operations. The selection of the strategic planning tool to be used in the organization mainly depends on the organization's current state as well as the aim behind conducting strategic planning. However, what is interesting to understand here is that there is no one strategic planning tool that can be used in each situation and there is no one perfect tool that can help to plan all the business operations. The success of strategic planning not only depends on the use of strategic planning tools but also depends on the capabilities of the strategic manager to effectively use the tool and analyze the business situations.