A strategic roadmap is a document used by businesses to guide future growth and development. It shows where the business is, where it wants to be, and the path to get there. It can include text and visual aids, outlining steps and obstacles to achieve goals.
A strategic roadmap is a document that is used within a company to indicate the path that a business plan is taking to achieve a particular goal. This is often used with a master business plan to indicate how the business plans to move forward to achieve its goals. A strategic roadmap serves essentially the same purpose as a roadmap used in guidance, to indicate where someone is, where they want to be, and how that person can get there. For a business, this document indicates where the business is, where it wants to be in the future, and the path or paths that can be used to reach that destination.
The purpose of a strategic roadmap for a business is as a document that can be used as a guide for future growth and development. If a company currently makes computer hard drives, for example, but also wants to get started making software, they could create a strategic roadmap showing how that change could be made. This can be a text document, although visual aids are also often prepared, to show the process in a more easily understood format.
In this example, the company could list the “leading hard drive manufacturer” as the current “location” for the company, indicating where the company is professionally located. The destination the company wants to reach, however, is the “leading software developer” in a given industry or for a given type of software. All of these specifics can vary greatly, depending on the particular nature of a business and the various outcomes it wants to achieve. Between this starting point and the destination on the strategic roadmap, the company can then plan the different steps needed to complete this “journey”.
The strategic roadmap could indicate how many software developers and designers need to be hired, how much this is likely to cost, and the time required to begin and complete development of new programs. All of these steps are part of the journey the business must take to reach the destination, and some of these journeys can present obstacles or choices just like any other roadmap. The strategic roadmap may indicate that it may take 20 software developers to go in one direction, while only 10 may be needed to take a different route. These types of options are all planned in advance, just like someone planning a trip using a real map, to allow the business to move forward and adapt to different situations through the ongoing use of a dynamic and adjustable plan.
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