International Webinar 2023 - The Role of Digital Based Innovative to Improve Competitiveness – Part 21

Strategic planning is a process carried out to articulate the company's strategy and vision, including making a list of plans or steps to be taken. This process will assist the company in carrying out the strategy and achieving the vision that has been set.


Strategic plans are usually formed by the company's strategic leaders and set forth in a document or media that can be easily read and understood by the company's team. In general, the strategic plan represents the company's goals for a certain period of time, maybe 5 years or 10 years, maybe even longer. The strategic plan may change depending on the strategy set. This is usually influenced by changes in the way of doing business, industry developments, laws, and regulations that will apply in the future.


Strategic planning helps companies to achieve their goals. It will be difficult to achieve a goal if there is no clear direction and list of what to do, including where the company will move.


As explained above, strategic planning is a process for carrying out a strategy, while planning is just ordinary planning that is commonly done on a daily basis, such as making to-do lists, lists of tasks or work to be done, etc.


If you've heard the term business plan or business plan, this is slightly different from a strategic plan. A business plan is a type of planning made at the start of a company's formation.


A business plan describes things that must be done under ongoing business or project conditions, while a strategic plan is part of carrying out a strategy, which focuses on the future.


When forming a company, guidance is needed regarding the amount of funds needed to start, who is involved, who makes the decisions, the purpose of creating the company, the business model, and other factors to support the success of the company.


Then, another type of planning is the operational plan. Operational plans are created to set goals and provide direction to a team or department within the company in order to achieve goals during a certain time or operational period.


The ups and downs of a business cause the company to adapt a reactive strategy rather than a proactive strategy. However, a reactive strategy is usually only feasible for the short term, even though it requires a lot of resources and time. With strategic planning, companies will be better prepared to deal with hot issues proactively rather than respond reactively to existing situations.


The following are some of the benefits of strategic planning:
- Help formulate strategies with a logical and systematic approach.
- Improve communication between company owners and employees.
- Empowering every individual working in the company.


Here are some ways you can apply to start making strategic planning:
- Identify the current condition of the company.
- Setting priorities.
- Building development processes.
- Implementation.
- Evaluation and updates.


The above material was presented by a presenter from Malaysia in an international webinar held by STEKOM University in collaboration with Universities from Pakistan, Malaysia, and various other parties. The name of the presenter is Dr. Farahida Mohd who is an assistant professor at a University in Malaysia.


This international webinar activity is part of the implementation of STEKOM University's commitment to increase various international activities. This was done in order to realize the vision to become an international-class university. Various international activities carried out by STEKOM University continue from year to year. There are international activities that are sustainable and there are also some international activities that are not sustainable. All types of international activities are accommodated and regulated by the International department of STEKOM University.