Associate responsibilities and time lines with each objective responsibility are assigned, including for implementation of the plan, and for achieving various goals and objectives. Ideally, deadlines are set for meeting each responsibility. The purpose of a plan is to address a current problem or pursue a development goal. It seems simplistic to assert that you should acknowledge if the problem was solved or the goal met. However, this step in the planning process is often ignored in lieu of moving on the next problem to solve or goal to pursue (McNamara, 2008).
Strategic planning serves a variety of purposes in organization, including to clearly define the purpose of the organization and to establish realistic goals and objectives consistent with that mission in a defined time frame within the organization’s capacity for implementation; communicate those goals and objectives to the organization’s constituents and develop a sense of ownership of the plan; ensure the most effective use is made of the organization’s resources by focusing the resources on the key priorities; provide a base from which progress can be measured and establish a mechanism for informed change when needed; bring together of everyone’s best and most reasoned efforts have important value in building a consensus about where an organization is going; provides clearer focus of organization, producing more efficiency and effectiveness; bridges staff and board of directors (in the case of corporations); builds strong teams in the board and the staff (in the case of corporations); provides the glue that keeps the board together (in the case of corporations); produces great satisfaction among planners around a common vision; increases productivity from increased efficiency and effectiveness and solves major problems (McNamara, 2008).
The tactical planning is a set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization, such as a functional area like marketing; and operational planning is the process of identifying the specific procedures and processes required at lower levels of the organization. To linking strategic, tactical and operational planning, the goals and plans must be consistent and mutually supportive. Basically, strategic planning emphasized a top-down approach-senior executives and specialized planning units developed goals and plans for the entire organization. Tactical and operational managers received those goals and plans, and their own planning activities were limited to specific procedures and budgets for the units. But, if the organization want to have a strategic management, must involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies.
All managers are encouraged to think strategically and focus on long-term, externally oriented issues as well as short-term tactical and operational issues (Bateman-Snell, 2003). The first step in strategic planning is establishing a mission, vision, and goals for the organization. The mission statement is an organization’s basic purpose and scope of operations; it’s the organization’s reason for existing and may be broad or narrow. The strategic vision moves beyond the mission statement to provide a perspective on where the company is headed and what the organization can become. Strategic goals evolve from the mission and vision of the organization.
The second component in the strategic management process is the analysis of external opportunities and threats, involves the industry and market, the competitors, the political and regulatory activities, the social development, the human resources, the macroeconomics conditions and the technological factors, including also the internal environment of the organization, because make a forecast to future trends require a good judgment, who is susceptible to bias, and managers have a limited ability to process information, so they should use subjective judgments to confront the new situations. The difference between an opportunity and a threat depends on how a company positions itself strategically (Bateman-Snell, 2003).
The third step is an internal analysis of strengths and weaknesses. To this we must start with an analysis of internal resources. This analysis should include a balance sheet analysis and income statement, an evaluation of human resources, an audit to marketing to identify key factors of the market and an analysis of operations. Directors to prepare an analysis of the basic resources will find that the combination of tangible and intangible resources can become an advantage if certain conditions are met: First, the resource increase the added value for the customer or to help reduce costs; second, that is a unique resource. Thirdly, that is a difficult imitate resource.
Remember! This is just a sample.
You can get a custom paper by one of our expert writers.
Get your custom essay
Helping students since 2015
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
