Strategic Planning
Strategic Planning can be defined as the process by which the guidingmembers[1] of an organization envision its future and develop the necessaryprocedures and operations to achieve that future. (Goodstein, et al, 1993,Steps of the Strategic Planning Process The following four steps cover the basics of Strategic Planning,although the number of steps required for the process may vary according tothe strategic planning model used and the individual requirements of an
The goals are the specific milestones that the organization wants to achieve in a given timeframe. Implementing the Plan: The final part of the process is the implementation of the plan. Mission Statement and Goals: The MS is a brief, clear statement of the reasons for an organization's existence, the functions it desires to fulfill and the methods through which it intends to do so. Identifying the Strengths, Weaknesses and Opportunities: This can be done effectively by SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis. Since strategic planning is essentially a dynamic process, implementation of plan includes periodic monitoring to ensure that the process is on course and making necessary adjustments in the strategy or the goals to ensure that the plan remains on track. Developing Strategies to Meet Goals: Once the MS, goals, weaknesses, strengths and opportunities have been identified, the necessary allocation of fiscal and human resources can be made in order to close the gap between the current performance and the desired performance. Analysis of the external opportunities and threats may include a review of the general economic environment, the industry environment, and the competitive environment. It serves as a guideline for the organization; is a source of inspiration and the standard against which the employees and the organization judges its performance. The internal analysis may involve gathering and analysis of data Resource Analysis, and a study of the Organizational Culture.
Common topics in this essay:
Goals MS,
Strategic Planning,
Implementing Plan,
Culture Analysis,
Opportunities Threats,
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Planning Process,
Weaknesses Opportunities,
Resource Analysis,
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process implementation,
opportunities threats,
strengths weaknesses,
implementation plan,
weaknesses opportunities,
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Strengths Weaknesses,
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