A strategic plan is the cornerstone to a company’s competitive advantage

There is often a lack of understanding about what a strategic plan really involves and the impact that it has on a company’s long-term growth.

Russell Fordham, a director in the consulting and deals practice of PwC, wasn’t surprised when participants of an informal poll conducted during a recent Growing your business webinar revealed that only 12% believed their employees could communicate their company’s vision. This disconnect can often stem from a lack of understanding about the strategic planning process and how to best cascade the plan internally throughout an organization.

This Let’s Talk article suggests how to begin the planning process, focus and prioritize initiatives, the importance of performance management and how to make a strategic plan come to life.