Why develop a Strategic Plan for a Social Enterprise/Nonprofit?
There are many valid reasons for developing a strategic plan for a social enterprise or nonprofit. The main benefit that flows from planning is the establishment of common goals and creating a collaborative environment where all stakeholders are working towards the same mission, vision, and values.
Strategic plans can also have an impact on the financial bottom line, by providing potential funding partners with a clear path that your organization will follow, and how you will reach your goals. This document provides a historical context for the current situation the organization finds itself in, sets the future direction of the organization and how it plans to meet its targets, and ensures an evaluation and monitoring process is set up to measure the success and challenges as the plan is implemented.
Steps in Developing a Strategic Plan
First, make sure you have set aside sufficient resources to complete the plan. Establish the steward of the plan, by either appointing an individual or a group to take responsibility for the progress of the plan. Get the buy-in of leaders in the organization, including senior staff and board members.