Developing The Strategic Planning Process

In order for companies to be successful in a constantly changing environment a strategic management plan will need to be developed which consists of four phases: basic financial planning, forecast planning, externally oriented (strategic) planning, and strategic management.

Strategic planning within a company is a tool used in companies that help mature areas in total quality management. This type of planning creates a cohesive management system for lower level employees to better adapt in. “Strategic planning determines where an organization is going over the next year or more and how it 's going to get there. Typically, the process is organization-wide, or focused on a major function such as a division, department or other major function”(McNamara, 2008). In order to plan effectively one must first make a clear assessment of the plan and have an analysis on the corporations mission statement and objective.

Strategic planning is an integral process of an organization defining its strategies and direction and making decisions to allocate available resources to peruse laid strategies, which provides the organizations which a competitive edge over their competitors.

The strategic plan is essential for the organization because it is a tool used to guide the decisions

Strategic planning can dictate the success of any organization if properly planned as well as the failure of an organization if not implemented as planned. Strategic planning is all about making choices. It is a process designed to support leaders in being intentional about their goals and methods. Simply stated, strategic planning is a management tool, and like any management tool, it is used for one purpose only—to help an organization do a better job. This portion of the strategic plan will explain why an

Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities as well as emerging market conditions and opportunities. This process begins with a clear company mission statement. However, this is only a small piece of a dynamic and perpetual process. Other activities involved with strategic planning also include setting supporting organizational objectives, designing a sound product mix as well as coordinating functional strategies. Strategic planning works to set the groundwork for the rest of the subsidiary planning functions in the company.

Berman (2006) outlines 4 stages of strategic planning. The first is a pre-planning phase (Berman, 2006). During this stage, it is important for organizations to assess how ready their organization is for implementing change. Berman (2006, p. 67) says there are five main stages of change: having an urgent need for change, having support from top management, having support from a "critical mass" of people in the department, achieving early successes to demonstrate the potential benefit of the change, and, finally, both internal and external stakeholders must trust you and the organization.

There are six stages based on this strategy: Stage one consists of the development of an operational statement of the problem. It is an initial assessment and is like a foundation of other stages. State two of determination of what is known through the literature based on scientific research.Stage three deals with the quantification of the problem. Stage four involves the development of policy or

Strategic Planning is one of the most fundamental factors in the success of an organization. This research project will discuss the importance of strategic planning as well as the different components of strategic planning. Many organizations fail to accomplish their goals and tasks due to the lacking of strategic planning. In order for their businesses to be successful, organizations need to be well informed about how the strategic planning process works.

Strategic planning is essential for all businesses. It allows companies to set goals and implement actions for long-term success. There are different phases of strategic management that help companies evolve and adapt to the changing world for long-term success. The phases are basic financial planning, forecast-based planning, externally oriented (strategic) planning, and strategic management (Wheelen p. 4-5)

Strategic planning is the process of gathering information from stakeholders, market players, professional entity, and government agency. The purpose of gathering information is formulating a realistic and a workable framework that any organization can implement and work with. Evaluation of information is a key aspect in determine the kind of plans that the organization wish to a chive over certain a period. Strategic planning ensures the implementation is, crafted well, and parties involved be acquitted with it. Developing a good Strategic plan helps a company to implement its missions and visions effectively, and helps the company to evaluate

As Mitzbergs’ contributions creating a new paradigm of strategic planning, it goes beyond planning, considering 5 essential stages for a conscious purpose in business with the Ps methodology. The first step is “Plan” or “Get Ready” is a process for gathering organization profile, assessing the environment through SWOT, PEST, Critical Path, and other decision-making tools, and agreeing priorities between the strategic committee. (Mind Tools, 2015)

Strategic planning clearly defines organisations’ objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track (Bradford et al, 2008). According to Robbins and Coulter (2005), the strategic management process model is given below:

Strategic Planning set the stage for the rest of the planning in the firm. It involves defining a clear company mission, setting supporting company objectives, designing a sound business portfolio and coordinating functional strategies. At corporate level the company first defines its overall purpose and mission.

The first stage, "planning involves developing a systematic process for attaining the goals of the organization...Leaders make change happen through planning instead of reacting to change" (EntEd 2007).