Strategic planning helps the management team to properly understand the current situation. Thus the present times requires a continuous strategic planning because the escalating rate of change of business world. Firm are hiring people who can foresee the implication of a certain newly employed process or concept. This has led to the development of predictive models which simulate what might happen in future. Managers of various companies and organizations are forced to think of the future. To achieve this they need to think out of the box and remain focused. Studies previously done, show organizations that have had long-term strategic plans have survived and thrived in times of crisis compared to the ones which had short-term strategic plans. Growth in terms of customer base and general organizations’ catchment is seen if long-term strategic planning is employed. Strategic planning acts as a form of communication that the firm is planned for the future and basically the good intent of the organizations’ management team. Though all these occur, the flip side of such kind of planning cannot be assumed. Strategic planning does not form the organization’s futures blue print, while it might focus on solving a specific problem, a different predicament can come by and catastrophically affect the organization. Strategic planning is not an effective method of formulating future decisions of an organization, otherwise the future is unknown. It will not identify all the critical factors which need to be solved in an organization, it require a thorough investigation of with different viewpoints which is laborious and time consuming. (Vander, 2004) Below is a structure of how a strategic decision is arrived at This calls for planned and emergent approaches to strategy where in planned approach; the organization objectives and purpose are clearly stated and directly translated into actions. In the emergent scene decisions are made on the basis of bargain, chance of occurrence and a positive feedback. Corporation are always accountable to employees, customers, suppliers and state laws, in contrast to mere objective focusing of the company emergent approach handles forces external to an organization but which are of value to it. Emergent approaches go beyond short run profitability, mere meeting minimum legal and market directives. Planned approach may be meant for short-term profitability but might lead to failure of processes meeting customer needs and customer satisfaction. The emergent approach bridges the gap between strategic decisions made in the boardroom and day to day practice of the business. The tradeoff between planned and emergent approach looks at Strengths, Weaknesses, Opportunities and Threats (SWOT) an organization might face. This is to maintain good fit with all the elements for effectiveness and efficiency. ( Chandler, 1962) The two way approach will achieve best use of resources, because at times past performance can be the best indicator of capabilities for the firm. Solving a problem at hand will help the management team deal better with the predicament much more appropriate if it reemerges. A two way approach is much more realistic and achievable, if one approach is employed it might not properly phase off competition with other organizations. In the planned approach to
STRATEGIC PLANNING Author: Class Name: Name of the School: City: Date: Strategy Strategic planning is the decision making process that aligns the internal capability of an organization with the chances and threats it faces in its immediate market place, geared towards achievement of good results…
The main objective of the organization is to support these people to lead a healthy and autonomous life. This organization aims to incorporate the healthy life style within these visually challenged people by developing their mental, spiritual and physical level.
In order to be successful, every venture has certain goals that they wish to achieve which may include profitability, survival, growth, and many other possible objectives. Hence, to achieve these goals, ventures must form strategies. Amongst these strategies there may be plans regarding which target audience to choose, how to reach this audience, how to attract them, what prices to set for goods and services offered, and how to provide information to the target audience amongst others (Averrett and Swamidass, 1989, pp.656-657).
Strategic plan facilitates to set specific direction for an organization, considering the vision and the broad strategic objectives. Strategic planning provides an outline for people to make reliable decisions, helping to move the organization towards proposed future.
658). The formal strategic planning has been related to the subject of strategic management from its initial basis. The term strategic planning is also identified with several other labels including "corporate planning", "long term planning", and "strategic management".
So, how the cultural factors affect the international marketing strategy how can a market leader best defend its market position how does the relationship marketing influence in developing long-term relationship. These three question will be answered.
One of the forces which affect firms to globalize is external.
In the process of preparing effective strategic planning, some products like environmental issues and trends, mission statement, general objectives and strategies are developed, evaluated and refined. (Ahoy, 1998 3)
Some of the elements that lay down obstacles in the effective implementation of strategic planning are lack of employee alignment, commitment, inflexible planning systems and difficulties in processing the data, no data to support the decision and lack of imagination to support strategic planning (Edwards, 2009, p.
They did not analyze nor were intuitive, Their failure was due to their being too static for this era of our rapidly changing environment. b) The second school was the planning school. It was founded by I Ansoff, Their discipline had some links to urban planning, system theory & cybernetics.
The three C’s i.e. collaboration, cooperation, and coordination play a very important role in the process of strategic planning. Strategic planning is based on consulting the right sources of information at the right time.
This may lead to changes in the organizational structure or changes in the relationships of stakeholders and partners. Both internal and external forces may force an organization to make these momentous decisions. In the recent past, organizations have been faced with
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