Many companies I work with have an Annual Plan and some foundational strategic elements, like Core Values, Core Purpose and Mission/Vision/BHAG (Big Hairy Audacious Goal ). However, these companies often don’t take time to define goals on the 3 year time horizon. This is an important step, because these 3 year strategic plans form your base camps on the way to achieving your longer-term strategy. They allow you to brainstorm big ideas that will help you grow beyond just this year.
Working on your 3-5 Year Strategic Plan is a best practice during your 2-day annual planning session, but what should the outcome of that time look like? What do you need to accomplish in that time? How does it connect to your mission statement?
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