Strategic planning for BIAs

Business Improvement Areas

The board of directors creates a strategic plan for the BIA, setting out the mission, vision, values and direction. A strategic plan establishes direction and helps the board make informed business decisions.

This plan should be the main reference document when establishing the budget. The plan should be reviewed and assessed regularly, with financial aspects tracked and monitored at each board meeting.

A strategic plan should:

determine what your BIA is, what it does, and why
set overall direction and priorities
encompass three to seven years
allocate and prioritize resources
outline budgeting activities
be sustainable and future focused
help achieve objectives
be an internal planning tool

Strategic plans vary in how they are written; however, a comprehensive plan will include the following information:

introduction
executive summary
overview
important issues
objectives
priority initiatives
employee expectations
tactics supporting the strategy
success measurements

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