Strategic Planning: How Important is it to Know Your Competition?

By April 26, 2019Uncategorized

Strategic planning is an important and complex process designed to create an implementable game plan for enhancing your organization’s future success.  It involves key personnel, an internal assessment, a financial review of operating results and financial position, a review of resident services and utilization.  This all leads to visioning and setting goals and strategies. What about your competition?  It is critical to understand who and what you are competing against, the competitors’ market positioning and the details of what they offer.  Only then can your organization have a full understanding of your community’s current market position relative to your competitors’ product offering and pricing.  Don’t let this important element be overlooked as you and your team delve deeply into the other critical steps in the strategic planning process.  An outsider’s ability to gather and  interpret this information for you will add  immeasurable value.