Many firms find it is necessary to revise the mission statement that was drafted earlier. The next step is to determine the goals and strategic direction of the firm. Since strategic planning is primarily long-range future planning, most goals will be those which are to be achieved more than one year into the future. Priorities must be determined as it might not be possible to achieve all the goals the company plans. Once goals are agreed upon, it is necessary to establish strategies and tactics to achieve those goals.
Strategies are specific actions or activities needed to accomplish goals.
Tactics are even more specific an action or activity to achieve the strategy. As many items will require financial resources to accomplish, budgeting is also done when the strategies and tactics are completed. Implementation This is simply beginning to put the plan into action. Periodic evaluation and monitoring should also be planned. At least 6 months into the plan, take some time to sit down and review what has and has not been accomplished.