Strategic drift is the gradual deviation of an organization’s from its intended course. It can occur when an organization loses sight of itsgoals, becomes complacent, or fails to adapt to changing circumstances. Strategic drift can be a serious problem, as it can lead to missed opportunities, wasted resources, and even failure.
There are a number of things that organizations can do to avoid strategic drift. These include:
A strategic business plan is a comprehensive roadmap that outlines a company’s goals, objectives, and strategies for achieving long-term success. It serves as a blueprint for making informed decisions, allocating resources effectively, and staying competitive in a dynamic business environment.
Developing a strategic business plan offers several key benefits. It provides a clear direction for the company, enhances decision-making processes, fosters alignment among stakeholders, and improves overall performance. Historically, successful businesses have recognized the importance of strategic planning and have used it to gain a competitive edge.
