Assignment on Strategic Planing
Assignment No. 01 (Management)
On
(i). Strategic Planning
(ii). Capital Budgeting
(iii). Strategic human resource management
(iv). Building customer satisfaction
Submitted by:
Krishna Kumar Thakur
Research Scholar (Management)
Assam Don Bosco University krishhh83@gmail.com 09508983355
STRATEGIC PLANNING:
Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization 's direction in response to a changing environment. It is a disciplined effort that produces fundamental decisions and actions that shape and guide what an organization is, who it serves, what it does, and why it does it, with a focus on the future. Effective strategic planning articulates not only where an organization is going and the actions needed to make progress, but also how it will know if it is successful.
Strategic Planning processes:
Bryson states that the ten steps "should lead to action, results and evaluation."
The numbers are links to the purpose of and approach to the step. The linked words are definitions and evaluation criteria.
Ten steps as per Bryson are as below: 1. Initiate and agree upon a strategic planning process.
2. Identify organizational mandates.
3. Clarify organizational mission and values.
4. Assess the organization 's external and internal environments to identify strengths, weaknesses, opportunities, and threats.
5. Identify the strategic issues facing the organization.
6. Formulate strategies to manage these issues.
7. Review and adopt the strategic plan or plans.
8. Establish an effective organizational vision.
9. Develop an effective implementation process.
10. Reassess strategies and the strategic planning process.
Benefits of strategic Planning:
• Improved performance -Study
On
(i). Strategic Planning
(ii). Capital Budgeting
(iii). Strategic human resource management
(iv). Building customer satisfaction
Submitted by:
Krishna Kumar Thakur
Research Scholar (Management)
Assam Don Bosco University krishhh83@gmail.com 09508983355
STRATEGIC PLANNING:
Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization 's direction in response to a changing environment. It is a disciplined effort that produces fundamental decisions and actions that shape and guide what an organization is, who it serves, what it does, and why it does it, with a focus on the future. Effective strategic planning articulates not only where an organization is going and the actions needed to make progress, but also how it will know if it is successful.
Strategic Planning processes:
Bryson states that the ten steps "should lead to action, results and evaluation."
The numbers are links to the purpose of and approach to the step. The linked words are definitions and evaluation criteria.
Ten steps as per Bryson are as below: 1. Initiate and agree upon a strategic planning process.
2. Identify organizational mandates.
3. Clarify organizational mission and values.
4. Assess the organization 's external and internal environments to identify strengths, weaknesses, opportunities, and threats.
5. Identify the strategic issues facing the organization.
6. Formulate strategies to manage these issues.
7. Review and adopt the strategic plan or plans.
8. Establish an effective organizational vision.
9. Develop an effective implementation process.
10. Reassess strategies and the strategic planning process.
Benefits of strategic Planning:
• Improved performance -Study
References: 11. Armstrong, M. (1987) A Case of the Emperor 's New Clothes. Personnel Management, 19(8): 30–35. 12. Baird, L. and Meshoulam, I. (1988) Managing Two Fits of Strategic Human Resource Management. Academy of Management Review, 13: 116–128. 13. Bamberger, P. and Meshoulam, I. (2000) Human Resource Management Strategy. Thousand Oaks, CA: Sage. 14. Barney, J.B. (1991) Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1): 99–120. 15. Becker, B.E. and Gerhart, B. (1996) The Impact of Human Resource Management on Organisational Performance: Progress and prospects. Academy of Management Journal, 39: 779–801. 16. Beer, M., Spector, B., Lawrence, P.R., Quinn Mills, D. and Walton, R.E. (1984) Human Resource Management. New York: Free Press.