Tip of the Week: Use Strategic Planning to Promote Success

Pharmacy Times
By Shane Desselle, RPh, PhD, FAPhA
September 2, 2021

Nearly every business organization, including nonprofits, has a strategic plan. A strategic plan helps to ensure that the organization is doing the right things now and in the future. Strategic planning is an overarching type of planning, with operational, business, resource, organizational, and contingency planning subsumed under it.

Strategic planning is often undertaken with the future in mind, usually at least several years in advance. It includes founding or changing the organization’s mission and vision, as well as its overall strategic goals. Furthermore, strategic planning actually helps define the business. For example, a pharmacy can decide whether it’s in the relatively narrow business of selling medications or in the broader business of health and wellness. This will help to define the competition and establish a framework for decision making. An overly narrow strategic plan can result in the business becoming obsolete or losing customers, sometimes rather quickly. The planning must be afforded the proper time and resources for the process itself; otherwise, it simply becomes a waste of time.

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