Networking events provide a forum where startups and potential investors can get together and brainstorm on ideas. The Bay Area has plenty of networking events, which can be classified under two categories based on the origin – events organized by prominent incubators and stand-alone events.

In Cratylus, when Plato said ‘Everything flows, nothing stands still,’ it almost seems like he fast-forwarded to today’s society where change is uncertain, rapid and overwhelming. Startups can manage change and uncertainty [1] through the use of strategic planning tools and by choosing an appropriate strategy based on the situation surrounding them.

A strategy is a plan and the strategic planning process outlines steps that are performed during different phases of the plan. The quality of information gathered through asking the key questions (who, what, where, when, why and how) during the planning process plays a critical role in creating a company’s strategic plan.

Getting the most out of a strategic planning process won’t happen unless the most relevant people are involved and fully engaged. Defining the role that each participant will play in the sessions is also a key success factor – setting expectations in advance gives people time to think and be prepared before going into a meeting.

As I flip through data on my iPhone I realize it is taking me back to the alphabet, the second most important filing and sorting system (after numbers).

The alphabet, or basics, of business starts with defining strategic goals and quantifiable objectives. Then projects and tasks are added and linked to those goals and objectives to ensure that everything that everyone is doing is aligned with the directions that the company is taking.

Strategic planning software can automate the strategic planning process. By simplifying the process and adding structure to it, the software provides value to companies of all sizes from startups to SMBs or large organizations, and even for investors.

Strategic planning, in general, lacks a well-defined and widely agreed upon definition. In the business world, this often refers to defining an organization’s plan for the future and desired outcomes. The range of corporate strategic planning models, methodologies and processes is broad, and the term has taken on many different meanings over time.

SWOT stands for strengths, weaknesses, opportunities and threats. A SWOT analysis is a strategic planning tool used to identify factors that may influence the achievement of strategic objectives.A SWOT analysis groups key pieces of information into two main categories [1]:

• Internal factors: Strengths and weaknesses internal to an organization. These factors are part of a company’s core identity. A company can change and improve these factors over time with planning and dedicated resources.
• External factors: Opportunities and threats external to an organization. These factors relate to the market, competition and economic conditions which most often are not able to be controlled by a company.

Bain & Company’s 2011 Management Tools & Trends Survey noted that “Strategic Planning” was one of the Top 10 most used tools in business planning and growth. The survey also mentioned, “Tool usage tends to ebb and flow with economic conditions. In boom years, companies use more tools, rising with larger budgets and the launch of more initiatives. In tough times, companies cut back on almost everything, including management tools.” [1] It then becomes interesting to look at how different types of strategic planning models can be leveraged as decision support tools for growth.

As part of the strategic planning process, there are two stages commonly used in creating a strategic plan. The first stage typically involves a company compiling an exhaustive list of strategic goals and objectives with the aim to achieve them over a timeline (that somehow keeps increasing!). The second stage is creating the medium that is used for representing those strategic goals and objectives. More often these vary from Power Point slides to Word documents and other “static” mediums that are sent back and forth between various team members as email attachments.

Let’s begin with a couple of questions. How many times have you heard “Let’s develop our strategy!” You were all pumped up, but were given a confused look by the speaker when you asked, “Do we have strategic planning software?” Or, when was the last time you were looking for a strategic planning software and could not find any? Have you ever wondered what companies use to establish their goals and objectives? Or, is it all still done on paper and transferred to a Word document or PPT slide?