The business strategic planning process

Advertising Careers in Strategic Planning A career in strategic planning involves helping a corporation design a path to growth and profitability amidst competition and constant change. The strategic planner's role consists of helping the organization to gather, analyze and organize information. They track industry and competitive trends, develop forecasting models and scenario analysis, examine strategic performance, spot emerging market opportunities, identify business threats, look for novel strategic solutions, and develop creative action plans. Strategic planners analyze and evaluate internal business plans.

The business strategic planning process

A variety of strategic planning tools described in the section below may be completed as part of strategic planning activities. What is considered "value" to the customer or constituency? Which products and services should be included or excluded from the portfolio of offerings?

What is the geographic scope of the organization? What differentiates the organization from its competitors in the eyes of customers and other stakeholders? Which skills and resources should be developed within the organization?

The organization may use a variety of methods of measuring and monitoring progress towards the objectives and measures established, such as a balanced scorecard or strategy map. Companies may also plan their financial statements i. The term operational budget is often used to describe the expected financial performance of an organization for the upcoming year.

Capital budgets very often form the backbone of a strategic plan, especially as it increasingly relates to Information and Communications Technology ICT. Outcomes[ edit ] Whilst the planning process produces outputs, as described above, strategy implementation or execution of the strategic plan produces Outcomes.

These outcomes will invariably differ from the strategic goals. How close they are to the strategic goals and vision will determine the success or failure of the strategic plan. There will also arise unintended Outcomes, which need to be attended to and understood for strategy development and execution to be a true learning process.

What is strategic planning? definition and meaning - regardbouddhiste.com

Tools and approaches[ edit ] Video explaining the strategic plan of the Wikimedia Foundation Wikimedia Movement Strategic Plan PDF A variety of analytical tools and techniques are used in strategic planning.

Responsive Evaluationwhich uses a constructivist evaluation approach to identify the outcomes of objectives, which then supports future strategic planning exercises.

In business, the term "financial plan" is often used to describe the expected financial performance of an organization for future periods.

The term "budget" is used for a financial plan for the upcoming year. A "forecast" is typically a combination of actual performance year-to-date plus expected performance for the remainder of the year, so is generally compared against plan or budget and prior performance.

The financial plans accompanying a strategic plan may include 3—5 years of projected performance. The four stages include: Financial planning, which is primarily about annual budgets and a functional focus, with limited regard for the environment; Forecast-based planning, which includes multi-year financial plans and more robust capital allocation across business units; Externally oriented planning, where a thorough situation analysis and competitive assessment is performed; Strategic management, where widespread strategic thinking occurs and a well-defined strategic framework is used.

Categories 3 and 4 are strategic planning, while the first two categories are non-strategic or essentially financial planning. Each stage builds on the previous stages; that is, a stage 4 organization completes activities in all four categories.

Sekora, Project Socrates founder in the Reagan White House, during the cold war the economically challenged Soviet Union was able to keep on western military capabilities by using technology-based planning while the U.

Mintzberg argues that strategic planning can help coordinate planning efforts and measure progress on strategic goals, but that it occurs "around" the strategy formation process rather than within it. Further, strategic planning functions remote from the "front lines" or contact with the competitive environment i.Strategic planning is a process by which an organization develops a long-term vision and a plan to implement it.

The process requires you to analyze both the internal and external environment of.

the business strategic planning process

A systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.. In contrast to long-term planning (which begins with the current status and lays down a path to meet estimated future needs), strategic planning begins with the desired-end and works backward to the current status.

Strategic Planning is a comprehensive process for determining what a business should become and how it can best achieve that goal. It appraises the full potential of a business and explicitly links the business’s objectives to the actions and resources required to achieve them.

A systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.. In contrast to long-term planning (which begins with the current status and lays down a path to meet estimated future needs), strategic planning begins with the desired-end and works backward to the current status.

Aug 29,  · Strategic planning Magazine Article Michael E. Porter Awareness of these forces can help a company stake out a position in its industry that is less vulnerable to attack. Michael Stanleigh, CMC, CSP, CSM is the CEO of Business Improvement Architects. He works with leaders and their teams around the world to improve organizational performance by helping them to define their strategic direction, increase leadership performance, create cultures that drive innovation and improve project and quality management. 1 Integrated business planning nlocking business value in uncertain times Today’s organizations operate in a new working environment. Ongoing.

Get management and emplyee support for your organization's new strategic direction with these electrifying group activities. Strategic plans are successfuly implemented only when the planning process itself engages every stakeholder and gives everyone a genuine sense of "ownership" of the new organizational strategy.

Aug 29,  · Strategic planning Magazine Article Michael E. Porter Awareness of these forces can help a company stake out a position in its industry that is less vulnerable to attack.

Strategic planning dictionary definition | strategic planning defined