To determine:
The strategic plan for the college/ university to compete for students in the marketplace.
Introduction:
Planning is a process of making the plan before executing any work. The process of planning includes identification of goals and objectives, formulation of strategies, creating the means required and implementation and monitoring.
The First step of planning is to establish a strategic goal. The strategic goal is a statement defining where the company wants to be in the future. The strategic goal represents the whole organization's goal rather than to the goal of a division or department. After setting the strategic goal, the organization prepares its strategic plans. Strategic plans define the action steps by which the company intends to attain strategic goals. Strategic plans are actually the blueprint that defines the organizational activities and allocations required for meeting long terms targets.
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Chapter 5 Solutions
Bundle: Understanding Management, Loose-Leaf Version, 10th + LMS Integrated for MindTap Management, 1 term (6 months) Printed Access Card
- What are the three levels of planning, and what kinds of plans do managers develop at each level?arrow_forwardHow do the internal and external environments of the organization and its strengths and weaknesses impact the planning process?arrow_forwardHow do organizations monitor and evaluate the implementation of their plans, and what are the methods used for measuring success?arrow_forward
- Management How can managers balance the need for detailed planning with the need for flexibility and adaptability in an increasingly dynamic and uncertain business environment?arrow_forwardWhat are the key steps involved in the planning process, and how can managers effectively execute each step?arrow_forwardWhat are the differences between "incremental" and "revolutionary" strategies, as well as "intended" and "actual" strategies? Do you think one is more valuable than the other? If so, why? Have you considered what the barriers to strategic planning are? What might those challenges be in your sphere? How can an organization overcome barriers to strategic planning?arrow_forward
- What is the role of strategic planning in management, and how can managers develop and implement effective strategic plans to achieve long-term success?arrow_forwardWhat does an organization need to know about itself before creating a strategic plan?arrow_forwardWill planning become more or less important to managers in the future? Why?Where do you want to be in five years? Do you have specific five years goal? Establish three goals that you want to achieve in five years. Make sure these goals are specific, challenging & measurable. (It can be personal, academic or professional goal)What type of planning will you do to achieve those goals?arrow_forward
- 1. Explain the suitability of scenario planning in a highly volatile and turbulent business environment. 2. Explain THREE corporate-level strategies of a organization to decide the future direction of the businessarrow_forwardWhat are the hurdles to effective planning, and how can your organization overcome them?arrow_forwardWhat are the most important factors to consider when developing and implementing a strategic plan for an organization, and how can these factors be balanced against each other?arrow_forward
