Strategic Planning Process – Case Analysis The Strategic Planning Process: The Strategic Planning Process involves numerous steps in evaluating the effectiveness of a firm’s performance relative to its competitors. To assess each of the components of a business, selected evaluative tools must be used. The tools are meant to serve as guidelines and not specific decision points. Management must decide upon the most appropriate pathway for the firm to follow given the input from both the internal and external environment. The I/O Model [Industrial Organization] advances the notion that the external environment plays the major role in deciding the firm’s strategic actions. The Resource-Based Model states that the internal …show more content…
In this environment, we find several ways to define our understanding: Two Types of Knowledge: Tacit That knowledge that is most difficult to duplicate. We acquire Tacit knowledge over time via our life experiences and via our ways of learning. Often called Implied knowledge because it is not expressed openly in the normal course of doing business. Tacit knowledge is costly to acquire and more difficult to maintain. Ask a child why he or she is doing something and the reply may be ‘because’. This is not to mean that there was a random act being conducted but rather there was learning through observation or direct instruction by a more informed person (a parent). Explicit That knowledge that is written and specifically expressed. Rules, regulations, and standards of behavior are examples. It is knowledge that is more easily transferred because of its portability. It also cost less to acquire and maintain. Ask a sales clerk in a store a question about why the business performs a selected task in the manner being exhibited by the individual and the response may be ‘it 's our policy’. Two Types of Sources of Data: Primary Data that we produce or create on our own. Information procured from raw data derived from sources such as surveys, observations, questionnaires and interviews. Primary data is more timely and under the
Primary data is when you collect and gather the data first hand in the form of a questionnaire, survey, telephone or interview. This data is specific to the company and did not exist beforehand. Sometimes referred to as field research.
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
Every year at about this time or a little earlier, we start the process of ‘strategic’ planning.
The outcomes of the Orthopedics office that is located on 78-15 Middle Village Orthopedic Office Dr. Edward A. Toriello MD, are to provide research and support to expand the knowledge base for the Clinic and to improve patient management. Although, this practice is a Solo Practitioner he has a long term vision to approach all his patients with great quality care. To strive to create a professional atmosphere so that patient will feel comfortable with receiving there services of musculoskeletal care. The age group that he treats are for adults and teens.
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.
Knowledge: It is information that has been synthesized so that relations and interactions are defined and formalized; Knowledge answers questions of “why” or “how”. It explores options.
The strategic planning process begins by reviewing the organizations mission, vision and values. Clarifying the mission, vision, and goals at the beginning strategic planning process can help align fragmented entities (2 p. 293). The mission statement identifies the organizations reason for existing and how it is unique in comparison to other organizations (A p. 294). It is a short, concise and clear statement that serves as a rallying point for the organization (4 p. 752). The mission provides clues about the types of services that can be expected from the organization (A). Failing to check new projects against the mission can cause an organization to get into trouble (A p. 294).
Advancing to the final stage of the strategic planning model, illustrated in Figure 3.1, evolves from conceptual to reality as our prospect assembles a schedule from all of their prerequisite research applied heretofore. As a result, a logically simplified process produces a single execution model for each phase of the plan. The need for an effective, simplified method to organize all activities, dates, and critical deadlines in an easily maintained process rivals the requirement to retain consistency throughout this particular project life-cycle.
This paper will evaluate and make recommendations regarding City of El Centro’s strategic plan, its mission, vision, goals, and objectives. A brief history of the City of El Centro will be included. A SWOTt analysis (strengths, weaknesses, opportunities, threats, and trends) on the City of El Centro will be performed. Included in this paper will be City of El Centro’s mission statement labeled “Attachment A”, City of El Centro’s vision statement labeled “Attachment B”, City of El Centro’s goals labeled “Attachment C”, City of El Centro’s objectives labeled “Attachment D”, City of El Centro’s history labeled “Attachment E”, and City of El Centro’s SWOTt Analysis Grid labeled “Attachment F”.
Thorndike, (1997) defines primary data as data that is collected directly from the source or respondents. The following primary data
Harper College’s Information Technology (IT) Client Services department houses the Information Security group. This group does not gather most of its own data, so the leaders will need to gather metric information from other College areas.
Carttar, P., 2014. Strategic Planning and Evaluation: Tools for Realizing Results. [Online] Available at: http://www.ssireview.org/blog/entry/strategic_planning_and_evaluation_tools_for_realizing_results [Accessed 14 November 2014].
xample: Everyone is an individual; we all have strengths and weakness. An example I personally want to give in the understanding of what tacit information/ knowledge is, would be the difference between a person going from school straight to university over a person going straight to the workforce in the same field. Both people are equally as intelligent and both have the ability to do either path. The person at university is studying the subject through text and through explicit knowledge, whereas the other person is learning the job through experience, learning and observation. Both people are gaining a sound knowledge on the same subject; however one has understood the subject through reading, lectures and tutorials (explicit knowledge),
Herman Miller is a modern furniture company based in Zeeland, Michigan. Originally named Star Furniture Company in the early 1900’s the company was known for high quality bedroom suites (Herman Miller). In 1909 Dirk Jan De Pree was hired as a clerk for the company and eventually became president in 1919 when the company was also renamed Michigan Star Furniture Co. Five years later De Pree convinces his father-in-law, Herman Miller to help purchase 51% of the company’s stock then renamed the company Herman Miller Furniture Company (Herman Miller). The company later became Herman Miller Inc. in 1960. During the 1920’s HMI only produced traditional style furniture but was forced in a new direction by both the great depression and the ambitions of Gilbert Rhode.
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.