Strategic planning process thesis
Creating a rough outline or game plan by the issuing of a mission statement is part of the strategic management process.
Strategic management thesis pdf
This will enable a manager to sketch the picture of the business growth in terms of profits, shareholder value or turnover, etc. A business owner can manage the business by using the various techniques of planning, leading, controlling, and organizing to ensure that these factors and others that may arise are quickly addressed to move successfully toward the vision statement. The business developed a mission statement: To develop environmentally friendly sources of power and water for coastal regions along the United States while providing for economic profits to allow further growth and future technological advances. This will therefore form base of the business statistics and will help to frame the future moves and suggest for better or changed business activities for achievement of that long term objective. By first formulating or developing an action plan with a rough outline, the author can begin the process of building ones business. By measuring against set guidelines and goals set earlier, a manager can monitor and control outcomes of employees by correcting issues as they arise. As with a physical highway roadmap that has mile markers and exits along with alternative road ways, well planned strategic management offers a path to success with check points and offers the ability to make choices on how to proceed based on the issue at hand. Planning, on the other hand, means a thinking process in order to organize the actions required to achieve the ultimate aim or goal by maintaining a balance between the needs and demands. Planning takes three forms: Short-term planning or strategy in the form of tactical strategy, long-term planning or strategy or strategic planning, and contingency strategy utilized when an alternative plan is necessary. Following up is an essential activity to keep up with the right track and reach the decided destination or goal by making necessary changes to the current plan and set of activities. By designing and planning a sound strategic plan allows the author and business owner the ability to provide a service that satisfies a need while generating a financial gain.
Like the short term plans detail about the achievement of a business goal over a span of a few months like business targets, deadlines, etc. This helps the business leaders to attempt for a quick and appropriate move at the very initial stage of business downtime or tough industry recession.
Several steps are part of building a strategy: Formulate or develop a strategy, strategy implementation or putting the strategy into action, and strategic control or modifying the strategy or its deployment to ensure desired outcomes are attained.
There can be some consistent minor problems that prevent the business from achieving its highest efficiency and thereby stopping from maximizing the organizational success which can be solved by strategic planning process focussing on the root cause of the problem from choosing short term measures to solve the issue.
By examining results of the short-term or tactical management revisions can be made to achieve the long-term strategic plan. In this case the final normative model is made up of literature and practitioner perspectives of reality.
To coincide with a mission statement, a vision statement is created that describes what the organization wants to become. When the things are organized the issues can be sorted out on a permanent basis, which not only cut down the present cost, but enables to have a different outlook for future organizational growth.
Examples of good strategic plans pdf
There can be some consistent minor problems that prevent the business from achieving its highest efficiency and thereby stopping from maximizing the organizational success which can be solved by strategic planning process focussing on the root cause of the problem from choosing short term measures to solve the issue. There are various benefits and importance of undergoing a strategic planning process, major ones are enlisted below: This essay is an example of a student's work Disclaimer This essay has been submitted to us by a student in order to help you with your studies. However, starting a business is a challenge. When the things are organized the issues can be sorted out on a permanent basis, which not only cut down the present cost, but enables to have a different outlook for future organizational growth. Creating a rough outline or game plan by the issuing of a mission statement is part of the strategic management process. Whereas, the other may comprise of the longer span of time over next years, which may comprise of expansion strategies, new product development, market development, business acquisitions and mergers, marking national or a global presence, etc. In addition to a mission statement, the business developed a vision statement: To eliminate the United States dependency on all foreign energy sources. The ability to lead also assists employees learn the ability of empowerment by taking on additional responsibilities, making correct decisions, and completing tasks assigned to them. Reference Copied to Clipboard. Focus on problem solving With strategic planning process one takes into account a long term view of the business operations and its model. For example the wider vision is to capture the national market over the span of the next 20 year.
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