Introduction to Strategic Managment

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Introduction to Strategic Managment

  1. 1. Parul Institute Of Engineering & TechnologySubject code:- 150001Name of subject:- Management-IIName of unit:- Introduction to Strategic Management(Topic):- How Strategic and Operational Plans DifferName of faculty:- Mr.Umang Soni SirName of students:- 1) Vivek Patel (Roll.no- 146) 2) Sagar Pandya (Roll.no-140)
  2. 2. How Strategic & Operational PlansDiffer What is a strategic plan? Why do we put so much effort into strategic planning? How do we plan strategically?
  3. 3. Strategic and OperationalPlanning What is a strategic plan?
  4. 4. Strategic and OperationalPlanning Why do we put so much effort into strategic planning?
  5. 5. How do we plan strategically? A team approach  Important objectives SWOT  Clearly focussed Client input strategies Real priorities  Realistic actions Cyclical  Monitoring progress  Using indicators
  6. 6. The Strategic Planning FrameworkThe University’s Strategic Plan has three levels:1.Strategic Directions2.University Wide Strategies3.Cost Centre Operational Plans
  7. 7. Strategic Directions Provides the basis for all other planning. It is intended to convey to stakeholders the thrust and nature of the University
  8. 8. University Wide Strategies Focused strategic plans which offer direction for key areas of University activity, identifying University wide objectives and strategies and informing cost centre operational plans. They are revised progressively through the year.
  9. 9. University Wide Strategies Indigenous  International Education  Marketing Capital Management  Public Relations Equity  Research Financial  Staffing Management  Training and Further Higher Education Education Information and Flexible Learning
  10. 10. Cost Centre Operational Plans Focus on strategies, programs, activities or actions that will give effect to Strategic Directions and the University wide strategies
  11. 11. The Strategic Planning CycleStrategic Directions Major review Jan - - - Aug; Minor review Mar - - - AugUniversity Wide Strategies Mar - - - SeptBudget Apr - - - NovCost Centre Operational Plans Aug - - - DecCost Centre Budget Sept - - - Dec
  12. 12. Elements of PlansStrategic Directions All levels Mission  Vision Values  Key result areas Strategic Themes  Key performance indicators
  13. 13. Strategic ThemesSeek to position the University: Innovative and flexible delivery Integration of higher education and TAFE Distinctive niches Equity and access
  14. 14. How Strategic & Operational PlansDiffer Strategic and operational plans differ in three major ways.. 1) Time Horizons 2) Scope 3) Degree of detail
  15. 15. Time Horizons Strategic plans tend to look ahead several years or even decades. For operational plans, a year is often the relevant time period.
  16. 16. Time Horizons Examples: At Federal Express, a strategic plan for new information delivery services could cover, say, five years of action. On other hand, is Wal-Mart’s “cross-docking” technique for inventory replenishment ,which addresses what happens today and tomorrow and next week.
  17. 17. Scope Strategic plans affect a wide range of organizational activities, whereas operational plans have a narrow and more limited scope. The number of relationships involved is the key difference. For this reason,some management writers distinguish between strategic goals and operational objectives.
  18. 18. Scope Examples At federal express, a strategic plan would address the company’s presence in selected global market-places,its financial goals,and the necessary size of the work force. At small pizzeria,an operational plan would cover the kinds and amounts of ingredients that go into each pizza.
  19. 19. Degree of Detail Often strategic goals are stated in terms that look simplistic and generic but this breadth is necessary to direct people at firm to think of the whole of their organization’s operations. On the other hand, operational plans, as derivatives of strategic plans, are stated in relatively finer detail.

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