ABSTRACT
The strategic planning process starts with developing or updating the organization's mission, vision, and values and finishes with a strategy designed to fulfill its mission and achieve its vision. Developing a winning strategy requires a codified process to acquire the relevant data and information upon which to make decisions. In developing a science and technology strategy, one needs to consider not only the effect that technology will have on the marketplace but also the way in which market trends will affect the acceptance of technology. During the entire development process, it is wise to have a transparent communications strategy to keep the public informed. The two important takeaway lessons when developing a strategy is that one must first look at both the microlevel through competitor analysis and the macrolevel through market and industry analysis. And second, one must factor in the interdependence between technology trends and market trends.
