Who are the key stakeholders that should be involved in the strategic growth planning process?
Strategic planning is a collaborative effort involving both internal and external stakeholders who contribute insight, resources, or influence.
Internal Stakeholders:
Executive Leadership: Sets the vision and approves major resource allocation.
Department Heads (Sales, Marketing, Finance): Provide input on operational feasibility and departmental alignment.
Data Analysts and Planners: Contribute market analysis and financial forecasting.
Employees: Offer frontline insight into customer experience and internal processes.
External Stakeholders:
Customers: Feedback is critical to refining offerings and anticipating trends.
Partners and Suppliers: Their capabilities influence scalability and speed.
Investors and Board Members: Influence long-term growth focus and capital strategy.
Strategic Value:
Ensures diverse perspectives are incorporated.
Builds cross-functional accountability.
Fosters organizational buy-in and execution effectiveness.
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