Preview

Strategic Planning

Powerful Essays
Open Document
Open Document
1334 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Strategic Planning
Strategic planning is a management tool, as with any management tool, it is used for one purpose only: to help an organization do a better job - to focus its energy, to ensure that members of the organization are working toward the same goals, to assess and adjust the organization 's direction in response to a changing environment. Basically, strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does, and why it does it, with a focus on the future. The process is strategic because it involves preparing the best way to respond to the circumstances of the organization 's environment, whether or not its circumstances are known in advance; often must respond to dynamic and even hostile environments. Being strategic, then, means being clear about the organization 's objectives, being aware of the organization 's resources, and incorporating both into being consciously responsive to a dynamic environment.1
The process is about planning because it involves intentionally setting goals and developing an approach to achieving those goals. The process is disciplined in that it calls for a certain order and pattern to keep it focused and productive. The process raises a sequence of questions that helps planners examine experience, test assumptions, gather and incorporate information about the present, and anticipate the environment in which the organization will be working in the future.2 The process is also about making decisions and implementing actions because choices must be made in order to answer questions about the organization. The plan is ultimately no more, and no less, than a set of decisions about what to do, why to do it, and how to do it. Because it is impossible to do everything that needs to be done in an organization, strategic planning help in deciding what organizational decisions and actions are more important than others - and much of the strategy lies in making the

You May Also Find These Documents Helpful

  • Best Essays

    MHA 612 FINAL PAPER

    • 3334 Words
    • 10 Pages

    “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).”…

    • 3334 Words
    • 10 Pages
    Best Essays
  • Good Essays

    6 3 Case Study

    • 408 Words
    • 2 Pages

    Strategic planning refers to a course of action for outlining organizational objectives, carrying out planning to achieve those objectives, and measuring the usefulness of those strategies (Kovner & Knickman, 2011).…

    • 408 Words
    • 2 Pages
    Good Essays
  • Better Essays

    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.…

    • 2286 Words
    • 10 Pages
    Better Essays
  • Good Essays

    “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).…

    • 851 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Strategic planning is an organisations process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and customers. Various business analysis…

    • 1554 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    Strategic planning is an organizational management that is used to set priorities, focus on resources, strengthen operations within the organisation, and ensure that employees and other stakeholders are working toward common goals. It’s drawn…

    • 533 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Strategic planning is the process of envisioning the organization’s future and developing the necessary goals, objectives, and action plans to achieve that future.…

    • 1615 Words
    • 9 Pages
    Satisfactory Essays
  • Good Essays

    Strategic Plan Overview

    • 1043 Words
    • 5 Pages

    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.…

    • 1043 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Strategic Planning

    • 645 Words
    • 3 Pages

    Assume that you are asked to complete a SWOT analysis for a fictional, large, physician cardiology practice. You are having a hard time fitting all of the characteristics into the SWOT analysis categories. After careful deliberation, you complete the analysis and submit it for review to the practice manager.…

    • 645 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    MGT wk 1

    • 510 Words
    • 3 Pages

    In society there are hundreds of companies competing for your business on a day to day basis. As a management team it is crucial to understand strategic planning, and know how it can help you grow as a company. In corporate terms, strategic planning is making a plan as a company in order to achieve long-term goals and objectives. Upper management must think strategically first, then apply that thought to a process. The strategic management process is best implemented when everyone within the business understands the strategy. There are five stages for the management team to understand they are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.…

    • 510 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Strategic Planning

    • 3305 Words
    • 14 Pages

    This write-up attempts to review what authors have written specifically on strategic marketing process; particularly their approach and personal philosophy vis-à-vis this concept. Within the various approaches, it looks at the respective purpose and structure. Then onwards provide an analytical perspective on the SWOT analysis which seemingly, marketing gurus and authors embrace in their strategic plan in today's market environment.…

    • 3305 Words
    • 14 Pages
    Powerful Essays
  • Powerful Essays

    Strategic planning is the organized process where an organization creates a plan to progress from its current situation to the desired future situation (Perera & Peiró, 2012). Further, it establishes decision-making criteria that will guide an organizations activities. Strategic planning is vital for healthcare organizations because it enables them to proactively plan for and respond to changes in their dynamic business environment.…

    • 1200 Words
    • 5 Pages
    Powerful Essays
  • Powerful Essays

    Strategic Planning

    • 3771 Words
    • 16 Pages

    Our channels of distribution will deal with how we connect to our customer segment, how we raise awareness of our product to our customer segment, how we deliver our products to our customers and how we handle returns of our products.…

    • 3771 Words
    • 16 Pages
    Powerful Essays
  • Good Essays

    Mktg 317

    • 649 Words
    • 3 Pages

    Strategic planning: the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities. Goal is long-run profitability and growth. Two questions: what is the organization’s main activity at a particular time? How will the organization reach its goals? Achieve strategic planning through a marketing plan.…

    • 649 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Strategic planning is the process that an organisation uses to ases its current position in the industry , develop its vision for the future and to design the steps necessary to achieve that vision. Busness analyses tecniqueis can be used in strategic planning example the SWOT Ananlusis (strengths, weakness, opportunities and threats. http://en.wikipedia.org/wiki/strategic_planning.…

    • 825 Words
    • 4 Pages
    Satisfactory Essays

Related Topics