The planning process is comprised of two key parts---strategic planning and operational planning. Strategic planning establishes an organization’s long-term vision‚ objectives and strategies required to achieve the objectives. Operational planning is the execution phase. It outlines a framework for implementing the strategies and achieving the objectives. Strategic Plan The strategic plan covers a three to five year time frame. Annual reviews are conducted to assess if the plan is on track and
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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. As superintendent‚ I have had the experience of both leading strategic planning initiatives and also using professional organizations to assist our efforts. One key and fundamental component in making the strategic planning process work
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Strategic Management Assignment 1 Table of contents Page 1. Introduction 2 2. Advantages of Strategic Planning 2.1. Financial Advantage 2 3. Disadvantage of Strategic Planning 3.1 Distortions and Deceptions 3 4. Friedman view of business social responsibility 3 5. Having a look at Sasol’s Social contribution 5 6. References 6 1. Introduction There are a number of advantages and disadvantages of strategic
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Strategic Planning and Management Development Throughout the business industry the people who are most associated with the business process has found strategic planning and management development "requires constant shifting back and forth between long-run and short-run thinking" (Dess and Miller‚ 5). Planning is a business process that involves one or more people (depending on the type business) whom decide where the business ’s objectives lie and how to initially accomplish them over a period
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1. INTRODUCTION TO STRATEGIC PLANNING Strategic Planning Process Defined Successful RBA efforts involve strategic planning‚ implementation‚ monitoring‚ and evaluation (which will ultimately provide data that will be used in future planning and implementation efforts). Strategic planning‚ an essential first step in the development of a results-based accountability system‚ is defined as the process of addressing the following questions: Where are we? What do we have to work with? Where do we want
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Chapter 10 Planning and Strategic Management Planning Overview Importance of Goals: Goals provide a sense of direction Goals focus our efforts Goals guide our plans and decisions Goals help us evaluate our progress The importance of planning at organizations The Hierarchy of Organization Plans Strategic Plans – Plans designed to meet an organization’s board goals. Operational Plans – Plans that contain details for carrying out‚ or implementing‚ those strategic plans in
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Abstract Ask five or ten different people for a definition of strategic planning or decision making or even planning and you will probably receive five or ten different answers. Most agree that strategic planning is a way to identify long-term goals and to direct your company toward fulfilling those goals. Most also will agree that decision making is a cognitive activity involving the interplay of environmental cues and human cognitive processes‚ culminating in the selection of one or more possible
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Strategic Planning Tools Nina Brown Healthcare Administration/HCM640/Unit 2 Christopher Miller March 17‚ 2013 Strategic Planning Tools The soaring instability of the current markets has warned the healthcare organizations to the need to focus on risks inherent in the investing in the stock market. One can presume that some organizations after experiencing major crisis with their market have developed to be more risk-reluctant than in the previous years and want to take fewer
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tool‚ the strategic planning process has received a lot of criticism over time‚ among them is the difficulty in implementing strategies due to the separation between formulation and implementation of strategy" (MINTZBERG‚ 1994 pp 479 ). Jick (2001)‚ conceives that while much research has been done on strategy‚ not enough focus has been given to the implementation of planned actions. It’s as if the two go hand in hand based on previous studies. If one is going to practice strategic planning they would
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Healthcare organizations must look to the future and envision the type of organization it wants to be for its patients‚ staff‚ and community. To achieve this‚ a strategic plan will guide the organization through any type of change. Strategic planning is a “written outline of the future that should enhance efficiency and effectiveness‚ encourage unity and focus‚ empower meaningful change‚ and streamline decision-making” (Sare & Ogilvie‚ 2010‚ p. 59) and it begins with identifying an unmet need.
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