A strategy is a plan of action designed to meet a specific goal. Businesses and companies have their own unique strategies, but studies showed that 90% of these strategies fail. Apparently, it’s not because of the strategies but is about how these companies implemented and monitored their strategy.

In this article, we wouldn’t only help you in understanding strategic planning, how it works, and why it fails. We would also work on with improving your strategies by proving some tips. Not only that because we are also going to let you participate in a short quiz at the end of this article to see if you are prepared enough to present your strategy to your senior audience.

Table of Contents

What is a strategy?

It’s hard to provide a concrete definition for a strategy because it varies depending on the business or the company where it is used. But one thing is for sure—a strategy is a long-term action.

Before creating a strategic plan, one must ask himself/herself the question, “What do I want to achieve?” This would help you in formulating attainable goals for your company.

To achieve long-term and sustainable success, one must practice the art of planning and implementing the right strategy that fits one’s company or business.

Why is it important?

Strategic planning is such a relevant element in the workplace. It provides a sense of direction to the company in achieving measurable goals. It also helps in guiding the company in making the right decisions and in evaluating the company’s progress.

How does it work?

Strategies were made to lay down plans for a specific company. In strategic planning, one creates plans and implements it to arrive at the desired goal. These plans were also monitored to track down its progress or to recognise its flaws.

Now that you have fully understood strategy and its concept, it’s time to take a short quiz with us. The Swiss Quality will help you to determine if you’ve got the right strategy.

For training, workshops, and consultations regarding strategic planning, don’t hesitate to contact our team. We’re waiting for you!