You may want to consider using a facilitator from outside of your organization if: Your organization has not conducted strategic planning before.
Financial objectives involve measures such as sales targets and earnings growth.
Environmental Scan The environmental scan includes the following components: This framework evaluates entry barriers, suppliers, customers, substitute products, and industry rivalry. Strategy Formulation Given the information from the environmental scan, the firm should match its strengths to the opportunities that it has identified, while addressing its weaknesses and external threats.
To attain superior profitability, the firm seeks to develop a competitive advantage over its rivals. A competitive advantage can be based on cost or differentiation. Michael Porter identified three industry-independent generic strategies from which the firm can choose.
Strategy Implementation The selected strategy is implemented by means of programs, budgets, and procedures. The way in which the strategy is implemented can have a significant impact on whether it will be successful.
In a large company, those who implement the strategy likely will be different people from those who formulated it.
For this reason, care must be taken to communicate the strategy and the reasoning behind it. Otherwise, the implementation might not succeed if the strategy is misunderstood or if lower-level managers resist its implementation because they do not understand why the particular strategy was selected.
Evaluation and control consists of the following steps: Define parameters to be measured Define target values for those parameters Perform measurements Compare measured results to the pre-defined standard Make necessary changes Recommended Reading Bradford, Robert W.When to use Strategic Analysis.
Strategic planning is the process of developing a shared vision of your organization’s future and deciding upon the major steps you . Consulting firm offers strategic planning & grant writing services for nonprofit organizations, community programs, state & federal government agencies.
Paper presents analysis of the management survey data, identifying the factors that influence strategy development and implementation. Paper describes significance of employee involvement in the strategy development process, defining incentives for employees, creation of activity plan, regular overview of achieved results and necessity of revision of the strategy - contrasting the usage of.
Case Study: Strategic Plan Development & Implementation. This Case Study describes how Gagnon Associates helped in the development and implementation of this client’s first, comprehensive strategic plan. to lead the executive team and a select group of additional senior managers through a comprehensive team-based Strategic Planning Process.
Strategic planning: The process by which leaders of an organization determine what it intends to be in the future and how it will get there. To put it another way, they develop a vision for the organization's future and determine the necessary priorities, procedures, and operations.
The Strategic Planning Process.
In today's highly competitive business environment, budget-oriented planning or forecast-based planning methods are insufficient for a .