What is Strategic Planning?
This is
basically a planning done by top officials of an organization for giving
direction to team for achieving common goal as specified in Mission &
Vision statement. It’s a continuous process and is guided by small action plans
which is further being monitored to achieve sole goal of the organization i.e.
wealth maximization of stakeholders.
Strategic Planning Steps
1. Perform situation analysis to understand your position
It answers “Where are we”?
Compare past performances with present one
Find the deviations
Do the SWOT analysis i.e. Strengths, Weakness, Opportunities & Threats which are prevalent in your business.
2. Determine desired state
It answers “Where we want to go?”
Define period for the plan. (Short term, Medium term & Long term)
Define Mission & Vision Statement
3. Determine organization goals & objectives
Organization goals and objectives are defined
Key improvement areas are identified
4. Assessment of strategies
Check for all strategies which can be implemented for reaching at desired goal.
Choose the best strategy for all action plans
5. Implementation of strategy
Handover the detailed plan i.e. Complete Road-map to the concerned team members who will execute the plan
Details such as who will do what, with how much budget, within what time frame should be specified clearly and informed accordingly.
6. Evaluation & monitoring
All strategies are analyzed in order to find out the deviations
Corrective actions are taken on as and when required basis
Further improvement areas are identified at the end of completion of plan period
Subscribe to:
Post Comments
(
Atom
)
This blog post is really very informative. Where you are providing the information about “What is Strategic Planning?” That is really such nice information for those who need it. Here in this post, you are also providing the information about “This is basically a planning done by top officials of an organization for giving direction to team for achieving common goal as specified in Mission & Vision statement.” that is one of the most important information. But here my opinion is that you can have to create a website and spread your information to worldwide. So, that you can choose Ritz Media World for Advertising Agency in Noida.
ReplyDelete