In order to conduct a basic strategic plan, it is very important to identify the specific goals first. Until and unless the goals and objectives are set a company or a management team will not be able to set their strategies. As a result of it, the strategic plan will not be made. As I have not done any research regarding the steps of conducting a strategic management plan, I think it is important to identify the strength of a team. At the same time, it is important to know what the required resources for the new strategy are and whether the company and the team are able to arrange all the resources to meet the strategies.