In the following task the strategic context and terminology (missions, visions, objectives, goals and core competencies) together with a evaluation of problems involved in strategic planning and different planning methods will be clarified.
Next, environmental audit and organisational audit will be produced to evaluate key factors and abilities that may enhance or affect Merlin Entertainments PLC.
After which, the importance of stakeholder analysis will be clarified and an analysis of different strategies involving substantive growth, limited growth or retrenchment will be completed.
A future strategy for Merlin Entertainments PLC will be carefully chosen and the roles and responsibilities for applying the strategy will be carried, together with an evaluation of resource required for it
Lastly, a discussion on goals and timescales for accomplishing the strategy of Merlin Entertainments PLC (M.E.) will be done.
Main- Understanding the process of strategic planning
Michael Porter 1980 defined strategic planning as an organizational process of describing a strategy, direction and making judgments in finding resources to follow a plan. Strategic planning developed noticeable in corporations in the 1960s and remains a significant part of strategic management. It is performed by strategic planners, who include many research sources and parties in their investigation of the business and its connection to the environment in which it competes.