Stages Of Strategic Planning Process

"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are

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 the overall planning that facilitates the good management of a process by taking employees outside the everyday activities of their organization and provides them actual representation of what they are doing and where they are going. A Strategic planning process includes mission statement, goals for accomplishing mission, approaches for implementing goals, action plans and monitoring and updating of plan. Various models/techniques such as iconic, analog and quantitative are used for different phases of decision-making (Intelligence, design, choice, implementation and

Every organization should have a strategic plan to achieve its goals in a limited time period, the strategic plan has many variable models. The strategic planning process that we studied needs a collaboration between the organization’s staff, board members, and strategic plan committee. This strategic planning process has ten guide steps.

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.

In all kinds of business, strategic planning is a requisite. It serves as a direction by visualizing the future based on the current events in the market in a day to day basis. In today's time, it helps the managers and leaders in building a company with great values and effective system. It can either be effective or a failure to a particular company depending on its application. That is why it is also important to follow the different steps thoroughly in order to attain success upon the evaluation of progress and performance. There are so many reasons why it fails.

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.

Threats: Nokia phones once dominated the phone market. However, it failed to see the threats from smartphone and the new phone manufacturer, and thus the brand Nokia faced serious strike and almost disappeared until recent.

According to literature, strategic planning is vital for strategic management. Burgelman (1994) points that strategic planning is a process which decides how, when and who is going to plan and how the results will be implemented. Drucker (1974) identified that the planning for an organization’s future that includes setting major overall objectives, the determination of basic approaches to be used in

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

Each organization requires different strategic planning, as there is no single strategic planning model that suits all organizations. Every organization has to develop model of strategic planning according to its own development, its nature of business and as per their own planning process. These models provide an extent of options on the basis of which different organizations might be able to select an approach and initiate to grow their own strategic planning process. Any organization might select to combine the models suitable to their planning process, for example, they can use a Basic model to recognize strategic issues and aims, and then they can select an issues-based model to develop approach to initiate the issues and grasp the

Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities.

Strategic planning can be defined as a process of organization that defining its strategy, direction, and making decision about resource to pursue its strategy. For the defining organization’s direction, its must be understand the current position and find out the way to making it successful. Generally, strategic planning must be including one of three key questions:

Strategic planning is central to management study. It defines the long term direction for the company and all other business functions orbit around their established strategies. This article studies how a company formulates business-level strategies, optimize their competitive positioning and obtain a competitive advantage over their rivals.