What is an Annual Strategy Planning?
Annual strategy planning is the process of creating an actionable plan to achieve a set of business goals over one year. An annual strategy plan should include a clear mission and vision, focus areas, objectives, actions, and performance indicators. It should also include a timeline and resources to ensure successful implementation.
What's included in this Annual Strategy Planning template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Annual Strategy Planning template for?
The Annual Strategy Planning template is for teams of all sizes and industries who need a structured way to create a plan that will help achieve their business goals. It provides a framework to help teams plan, outline, and track their strategies, objectives, and actions.
1. Define clear examples of your focus areas
A focus area is a broad topic or area of interest that you are trying to address. Examples of focus areas include increasing operational efficiency, enhancing customer experience, and increasing employee retention. It's important to clearly define each focus area so that objectives and actions can be aligned with achieving that goal.
2. Think about the objectives that could fall under that focus area
Objectives are the specific goals that you are trying to achieve within each focus area. For example, under the focus area of “increasing operational efficiency”, objectives could include decreasing shipping wait time and reducing logistics cost.
3. Set measurable targets (KPIs) to tackle the objective
KPIs are performance indicators that measure progress towards achieving your objectives. Examples of KPIs include average shipping wait time, customer satisfaction rate, and turnover rate. KPIs should be measurable, specific, and set a clear target with an initial and target value.
An example of a KPI for the focus area of Increase Operational Efficiency could be: Decrease avg shipping wait time from 2.2 days to 1.5 days.
4. Implement related projects to achieve the KPIs
Projects, or actions, are the steps you will take to achieve your objectives and KPIs. Projects should be specific and measurable, and should be designed to move you closer to your goals. Examples of projects include streamlining the shipping process and launching a loyalty program.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is the ultimate tool to help teams create and execute their annual strategy plan. It provides teams with a structured planning process, and performance tracking to ensure their strategy is successful. With Cascade, teams can see faster results from their plans and achieve their goals more efficiently.