The strategic plan also provides the basis for constructing realistic financial projections so a company can adequately and in real time track progress or the lack thereof. The strategic plan is the link in a company’s business plan that converts the marketing plan’s goals into actionable strategies which translate into realistic financial projections and models that provide useful tracking information on a company’s journey toward planned success. You can say that a strategic plan is the success link and key to a company’s operations.
This is a useful essay. The Black Swan challenge is not devising more robust forecasting tools or seeking futilely to eliminate all possibilities for strategic surprise. Uncertainty, as Taleb and indeed all practitioners of strategy and planning will attest, will continue to grow in an ever more complex and interconnected world. What one can do, however, is focus on the effects of Black Swan events and think rigorously about plausible future operating conditions. Map these out. Characterize them. And then think hard about what you need to begin doing today to be ready… This is a gross oversimplification of what the process involves, but hopefully the point is clear.