Beruflich Dokumente
Kultur Dokumente
STRATEGIC PLANNING
OBJECTIVES
To understand the nature of strategic planning and its evolution with its benefits and limitations. To know the techniques for analyzing and deciding on proposed new programs. To describe techniques that are useful in analyzing ongoing programs. To study the several steps in the procedure of strategic planning.
Q) What is Strategic Planning? Strategic planning is the process of deciding on the programs that the organization will undertake and on the approximate amount of resources that will be allocated to each program over the next several years.
Cont
Strategic planning is systematic and on particular timely basis with prescribed procedures and time tables while, strategic formulation is unsystematic as it is on requirement basis.
Cont
ii) Management Development Tool
Formal strategic planning is an excellent management education and training tool that provides managers with a process for thinking about strategies and their implementation.
LIMITATIONS
There is always a danger that planning can end up becoming a form filling, bureaucratic activity, devoid of strategic thinking. An organization may cerate a large strategic planning department and delegate the preparation of plan to that staff department and may forfeit the input of line management. Finally, strategic planning is time consuming and expensive.
competitive
1. 2. 3. 4. 5. 6.
Reviewing and updating the strategic plan Deciding on assumptions and guidelines First iteration of the strategic plan Analysis Second iteration of the strategic plan Final review and approval