If strategic goals can be achieved in one year, planning participants have not stretched their strategic vision far enough. The last step in the strategic planning process requires a clear-eyed review of the newly defined vision, mission, goals and strategies to assess demands that will be placed on the business as well as likely future effects. Diagnose the business situation . Identify deficiencies of the firm that result in competitive disadvantage. External threats may include negative conditions such as government regulations, market segment decline, and new competitors.
Positive opportunities involve new marketing openings and population shifts which add new potential.
Develop a Vision and Mission Statement . Develop goals . The planning team should use the strategic diagnosis findings to set the strategic goals that the business wants to accomplish over the next three years. A goal should be set for each critical issue area pinpointed as a result of the strategic diagnosis. Define strategies .