Strategic planning cycle consists of 6 steps. The model starts determining the mission, identifying goals, understanding internal factors such internal issues that affect company’s performance. The strategic planning cycle then goes into understanding external factors, performing SWOT analysis (define company’s strengths, weaknesses, opportunities and threats) and finally defining the strategy. The diagram below demonstrates the planning cycle of company’s strategy.
Strategic Planning Cycle diagram. This is one of the top business frameworks helping clients improve on their approach to strategy, project management, IT, HR, internal processes and client experience.