Strategic planning may be defined as a organize effort to produce good decisions
and actions that shape and guide what a business organization is, and how it operates. The
objective of strategic planning is to develop a blueprint by which to manage an organization's
status. Some would suggest that strategic planning has lost some of its necessity, but most
managers continue to recognize the need for effective strategic planning and implementation.
While strategic planning requires a great deal of time and can be really annoying, if done
properly, it can enable a company to recognize its most effective position within its industry.
There are a many perspectives, models and different approaches used in strategic planning. The
development and implementation of these different tools depend on a large number of factors,
such as size of the organization, nature and complexity of the organization's environment, and
the organization's leadership and culture.
The first step in the strategic planning process is to address the certain concerns like
where do the company stands, and the resources available to company. Evaluating the
history and changes both internal and external composition of the company. Analyzes what you
have to work with involves consideration of strengths and weaknesses and determination of how
to capitalize on strengths. The next step in the process is establish a vision for the company from
the values of those involved in the process, it is essential that this step involve all of those who
will have a stake in the achieving the vision. After forming a vision and determining goals,
planners must address means of reaching their goals. This step involves ...