“For that reason, strategic planning is a method of giving the direction and aligns the firm in relation to the surrounding environment and be competitive. Besides being as a management tool in a firm, strategic planning provides preparedness and modes of response to the environment (Wilson and Eilertsen, 2010).”…
Strategic planning involves taking information from the environment and deciding upon an organizational mission, and upon objectives, strategies, and a strategic architecture. There are many different ways to go about deciding on your mission. Michael Porter, a researcher from Harvard, had a few ways for developing frameworks for developing an organization’s strategy.…
“Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people” (Wikipedia).…
Strategic planning is a necessary process to ensure an organization understands its future, and emerging operational environment and issues. Strategic planning also develops measurable plans, processes, and procedures to prepare for that environment and the future.…
The label “strategic planning” has been applied to all kinds of activities, such as going off to an informal retreat in the mountains to talk about strategy. But call that activity “planning,” let conventional planners organize it, and watch how quickly the event becomes formalized (mission statements in the morning, assessment of corporate strengths and weaknesses in the afternoon, strategies carefully articulated by 5 p.m.). Strategic thinking, in contrast, is about synthesis.…
The story revolves mainly around Pecola Breedlove and Claudia Macteer. And while they are the main characters, the story does tell about the stories of other minor characters. The plot of the story is the virtue of blue eyes. Both Claudia and Pecola get bullied and teased constantly, and would do anything to get a pair of blue eyes. Throughout the book, Pecola is living with Claudia’s family because her dad tried to burn down the house.…
For the purpose of this paper I have selected M/s. Apple Inc as an organisation. M/s. Apple Inc are considered to be one of the most competitive organisations in the globe who operate in a very fast environment of technology and computers, where the developments are so rapid and fast that the management are expected to revisit their strategies and implementation plans on a continuous basis to stay competitive and maintain that technological edge in the market place.…
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. The key components of strategic planning include an understanding of a vision, mission, values and strategies. Strategic planning is a step by step process with definite objectives and end products that can be implemented and evaluated. Very simply, it is a process by which we look into the future and influence the forces that will affect us. Strategic planning looks three to five years ahead. It charts a definite course based on strong indicators of what the business environment will be like in those years. Heidrick and Struggles international Inc had a plan to set in place to get the right people for the right job to help with the success.…
A strategic plan is a high-level overview of the entire business, its vision, objectives, and value.CITATION MIK13 \l 1033 (Mikoluk, 2013) Strategic planning is also the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its external opportunities in order to maintain competitive advantage. Strategic plan helps manager to make fundamental decisions and define the action or steps that guide what the organization intends to achieve with a focus on the future. Strategy planning can be implemented at three different levels, which are corporate level, business unit level and functional level.…
The authors adopted the current views of strategy and identified strategic thinking in action and the knowledge required to perform effective strategic thinking. The article emphasizes that each individual have different learning styles, habits, practices and display the importance of team structure.…
If asked what strategic planning is one could interpret it as simply a road map that can guide the organization in the right direction. It is very unlikely that an organization would know which direction to take without a sense of direction. Managers are faced every day with decisions that have a major impact on the direction the organization must take, therefore, strategic planning can play an important role in guiding managers in the right direction. In other words strategic planning is a tool that management can use to give them a sense of direction that will guide them in doing a better job and to ensure that all the members of the organization are working toward the same goals…
After a series of study on other works on strategic thinking, and based on other literature on strategy, cognition and adult learning, the authors came to this conclusion that “Strategic thinking is an individual activity undertaken to benefit organizations: we have adopted an emergent view of strategy and identified four major activities as strategic thinking in action: Scanning, questioning, conceptualizing and testing. The knowledge required to perform effective strategic thinking is factual, procedural, conceptual and self-knowledge” (Casey and Goldman, 2010).…
To be an effective leader, one needs to set not only the end result but the course involved to get there. One way to set the course and the ultimate destination is to use the process of strategic planning. Strategic planning, when done correctly, necessitates making decisions that will ensure the district's ability to successfully respond to changes, focus on specific goals and plan for sustainable financial and educational viability.…
The mission should define core purpose of the organization i.e. the reason why it exists. Peter Drucker argues that all organizations including nonprofit organizations exist to serve a customer i.e. satisfying a public need. Therefore, the emphasis of this needs to be brought out in the mission statement as well. Nonprofit and governments do not…
The ability to come up with effective plans in line with an organization's objectives within a particular economic situation. Strategic thinking helps business managers review policy issues, perform long term planning, set goals and determine priorities, and identify potential risks and opportunities. Systems perspective; being able to understand implications of strategic actions. "A strategic thinker always have a mental model of the complete end-to-end system of value creation, his or her role within it, and an understanding of the competencies it contains.…