Strategic Plan

Strategic Plan
Running Header: Strategic Plan Part II
Strategic Plan Part II – Environmental Analysis and Setting Strategic Goals
HCS 586
March 5, 2012
Strategic Plan Part II – Environmental Analysis and Setting Strategic Goals
Strategic planning can dictate the success of any organization if properly planned as well as the failure of an organization if not implemented as planned.
Strategic planning is all about making choices. It is a process designed to support leaders in being intentional about their goals and methods. Simply
stated, strategic planning is a management tool, and like any management tool, it is used for one purpose only–to help an organization do a better job.
This portion of the strategic plan will explain why an ... Show more content on Helpwriting.net ...
SWOT is a method for strategic planning that analyzes objectives based on strengths, weaknesses, opportunities and threats (thus the acronym SWOT).
SWOT accounts for both internal and external variables, and it may be used to evaluate any system, including an assisted living company. Based on the
SWOT Analysis findings Visiting Angels Organization has been able to accomplish its mission, goals, and objectives because of: the values of the
profession, employees being knowledgeable regarding quality improvement strategies, staff commitment to providing quality care, different program
development through continuous education department and training courses, and a strong informal communication channel among departments.
Internal and External Changes and Challenges Visiting Angel's organization was able to respond to the internal and external changes/challenges by
strategically considering all possible factors before hand. Based on SWOT analysis findings some of the challenges and weaknesses are: reduced
funding by predicted resources and government finances, insurance company's limiting access to care, lack of technology viewed as inability to
achieve high quality levels, and the growing numbers of uninsured/underinsured patients. Other unfavorable factors that were identified were:
workforce shortages and inability to keep nurses in the profession of assisted living, the need to

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Strategic Planning : A Strategic Plan Essay
Business Strategic Planning Strategic planning is management action that is used to set priorities, strengthen operations, ensure that employees and
other stake holder are working toward a common goal. Effective strategic planning expresses not only where a business is going, actions needed to
make progress, but shows if the business will be successful. So a strategic plan is used to communicate with the organization the organizational goals.
There are several step in a strategic planning process. This process can take anywhere from an hour up to a 1–2–day strategy retreat by management,
owner or a team. First, where is the company now? This takes a look at the major drives of the strategic planning. This includes things that is
happening now or things that might happen. It will also allow the business to get clear on problems challenges and danger that they might be facing,
when it comes to finances, valuable resources, capabilities, and competitive weakness (Bethel University, 2011). Narrow down the one(s) that will
create the most impact. Second, the company's vision. The need for strategic thinking is driven by problems and challenges. Strategy process is
driven by the vision. There has to be a vision, or nothing happens. The more powerful and imaginative of the strategy depends on how clear the vision
is. Revenue goals, market share goals, values, culture and purpose must be included in the vision. Reviewing the mission, vision, and values every year
will ensure the

Strategic Planning : Strategic Management
1.How do you conduct your strategic planning? Strategic planning is a joint endeavor that involves field operations, headquarters and mission support.
The agency's strategic planning practices entail brainstorming new ideas, implementing innovations and reflecting on past practices in developing
action plans to improve daily functions, upcoming operations and immediate response actions to crisis situations. The operational plan or warning
order provides mission critical information regarding equipment, personnel and objective, it also denotes the time frame to fulfill mission requirements.
The agency's human capital strategy is based on comprehensive research methods to identify activities and operating costs which are key in driving risk
mitigation factors.
2.How does your strategy development process stimulate and incorporate innovation? This is achieved through strategic planning to enhance the current
workforce by providing a supportive environment through improved initiatives and advanced training. This development of innovative methods insures
uniformity and sustainability in joint endeavors. The focus on operational effectiveness through strategic planning merges preexisting assets that are
readily available, therefore stimulating innovation. The Strategic Human Capital Plan (SHCP) establishes criteria for sustainability through innovative
thought process. Innovation provides new ideas and or concepts in developing a more proficient and effective plan.

Strategic Planning : Strategic And Tactical Planning
To be successful a leader or manager must have vision, and to have that vision come to fruition the leader must align that vision with goals, but the
only way to achieve those goals is through planning. Every plan needs to operate like a map to success. Strategic and tactical planning, when used
correctly, represent planning models that can lead companies forward toward the vision of their leaders, and the attainment of the goals those leaders
have developed. Strategic and tactical planning work together. Strategic planning focuses on the big picture, and tactical planning supports that big
picture by focusing on various items within it.
Strategic Planning
Once a leader has a vision, and set goals, unless it is a very short term goal, then strategic planning is often the best model to use to see that vision
come to light. Strategic planning focuses on the big picture, and uses long term planning models to successfully arrive at the established goals for a
company (Simerson, 2011). A strategic plan is action focused, and sets the parameters for how to move a company towards goals (Barnat, n.d.).
Strategic planning is often hard to implement within a business because it is difficult to define fully, and getting hung up on defining strategic planning
can lead to confusion (Molvig, 1993). Strategic planning requires research. Because it is a long term planning model, it gives time for review and
recognition while following the plan to fruition (Simerson, 2011). Using strategic

Strategic Management : Strategic Design Management
STRATEGIC NETWORK DESIGN
INTRODUCTION
The literature research help to understand the strategic design management by investigating the individual meanings of individual and combined terms
and the relationships between them that produce the essential ingredients of the tem "strategic design management".
By Definition
"A business process that incorporates design and its management into the strategy formation process, and implemented at every level of the
organization".
"Supply network design involves configuring the shape and capabilities of one's own and other operations with which business interacts" (Slack et al
2009)
Design management is effective for any network to start when it's required by any customer and when design is included ... Show more content on
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Nevertheless, both are inextricably linked and are essential to the overall organizations' design and strategy management processes. Though strategy is
often advertised as a service and capability, strategic management, design management and strategic design management are rarely if ever advertised or
marketed by consultants offering design services.
There is possibly a market for a new model of consulting services, divorced from specialist design outputs, the goal of which is to help organizations
manage Design as a critical element of strategic management.
The main mission, goals and objective in strategy implementation are to set out why there is need to understand that organization exist and what it is
doing with respect of customer point of view. The goals are to specify what the organization hopes to fulfil in the medium of long term. Form which
the objective is achieved to attain that leads the superior performance. In external analysis the major step is to identify the strategic opportunities and
threats in the operating environment. Where else the internal analysis provides to identify the strength and weakness. Discovering the basics of the
network design can explain us an overview, benefits of the classified network design and its methodology. As in to have an organized network in this
complex world for our daily requirements, a careful planning and designing is looked–for. A Good

Strategic Management : Strategic Planning
Introduction
Strategic planning in business management is a highly important portion of management as it involves development of plans to ensure growth,
success, and above all else, profit. If not analysed correctly a poorly formed strategic plan can result in reduced profit margins. When analysing
strategic planning as a discipline, there theorists which develop frameworks to assist managers in how to develop a strategic plan. Of these, Porter's
Five Forces Framework (5FM) is among the most influential of these. However, critics suggest it is not entirely successful and combination with other
frameworks such as the Strengths, Weaknesses, Opportunities and Threats Matrix (SWOT). Theories arise from a number of disciplines, thus the result
is contention and opinion differences amid academic literature. Adding to this is that strategic planning is a relatively young discipline, with its origins
only beginning in 1960s (Stonehouse & Showdon, 2007).
Theoretical Section
Strategic management is vital to business and ensuring profitability. "Businesses see survival, improvement and success" as objectives (Pickton &
Wright, 1998, p.103). Successful strategies are created through analysis of the business industry environment, and involves trade–off's between
operational effectiveness, benchmarks, and cost minimisation (Abdolvan & Asadollahi, 2012; Agarwal, Grassi & Pahl, 2012; Stonehouse & Showdon,
2007). Gary Hemmel comments, in Porter (2010, p.1), that, "Strategy is, above all

Strategic Planning : Strategic And Tactical Planning
In my facility, we take a regimented approach to strategic and tactical planning. There are usually multiple committees formed and operational at any
given time, addressing various operational and clinical organizational needs. The committee meetings are highly structured in their approach to
identifying the problem, brainstorming for potential solutions, and determining implementation and monitoring/feedback methods.
After each meeting, a document is created to "map out" the short and long term goals and identify the staff responsible for implementation and
monitoring. This document serves to literally keep everyone on the same page during the entire process. As goals are met and feedback is obtained, the
committee continues to meet to make any necessary modifications or adjustments to ensure progress continues towards achieving the identified goal.
This strategic planning process is very similar to the one depicted in our textbook. According to Hebda and Czar (2013), the first steps are to identify
the strategic planning team and the goals and scope of the project. My facility accomplishes this by forming a committee and immediately identifying
the purpose and goals of that committee. The committee model is fully embraced by my organization as a means to achieve its organizational goals.
The next steps according to Hebda and Czar (2013) are to gather data and perform an analysis of internal and external environments. These steps allow
the team to identify trends

Strategic management is the process of selecting the organization 's goals, mossion and ways to achieve them. It is vital for any business venture to
establish and implement strategy for its prosperous development, efficient functioning and success in the future. Strategic planning provides the basis
for all management decisions. Otherwise, without a clear strategy, an organisation could face difficulties in achieving its mission, as every business
venture requires an elaborate approach, skilful management to fulfil it, collaboration of all elements involved in the business process, flexibility and
sensitivity to outer factors. The last factor has become crucial in the today's changeable and highly competitive world.
Strategic management ... Show more content on Helpwriting.net ...
Advantages
This approach is quite simple and prescriptive with a lot of research and real examples. The business can easily apply, understand and deal with this
method.
Disadvantages
The simplicity of the traditional approach acts as its major weakness, as it may not give an accurate picture of the real problem of the business:
– the analysis is based on current information that limited to thinkable future
– the tools and the process cannot keep up with the times and the rapidly changeable business environment, leading to lagging results
– strategies are limited due to its pre–determined corporate vision, goals and mission
– the strategic plans may be too inflexible for today's pace of change.
Sustainable approach
According to JJJJJJJ "Sustainable development is development that meets the needs of the present, without compromising the ability of future
generations to meet their own needs." This means that this approach considers environmental, social and economic limitation we will face in the future.
This is a well–known fact, that the company's main goal is maximising shareholders value. Only 40 years ago giant corporations achieved this objective
at all cost without taking into account social and environmental responsibility. However, businesses were required to be

Strategic Analysis: Strategic Overview Of Ducati
Chapter 2 – Strategic Overview of Ducati
Following its 1996 liquidity crisis, Ducati adopted new strategic plan under new management of Minoli aiming at strengthening the company brand,
enhancing its portfolio and increasing its sales and profitability.
2.1. Deliberate and Emergent Strategy
The deliberate strategy is determined and the result matches the intended course of action. It does not consider the external or other facts. Deliberate
strategies guide the companies with a sense of focused direction (Mintzberg, Lampel, Quinn, Ghoshal, 2003)
Emergent strategy of a company is not a part of original planning process; consist with a set of actions, or behaviours which are added in to the
strategic process in time to time. Emergent strategy ... Show more content on Helpwriting.net ...
The functional divisions were largely absent and it was really difficult for the top management team to make their decisions. Managers, who identified
the passion of Ducati, later came out with brilliant decisions.
The deliberate strategy of Ducati was to maximise the profit and increase the market share which was a difficult task for Minolis' team. The Budget
was limited and there were some renovations left in the factory as well.
As a solution for these external influences, Minoli analysed the industry factors and came out with an alternative strategy of developing a global brand
to the worldwide customer network to compete in the market in order to achieve the deliberate strategy of profit maximisation. That was the birth of
Ducati Museum which was a symbol to the Ducati Staff to develop their powerful brand.
Suddenly the branding was the strategy of the Ducati instead of profitability and competing with Japanese motorcycles, which Minoli wanted to
symbolize as a dream, passion a piece of history, and a motorcycle is at its heart (Gavetti, 2004). This lead to the formation of 'The World of Ducati' the
strategy of all Ducati's operations, link each other. The centre of this strategy is the motorcycle which serves to all customer segments in the

Strategic Objective
Strategic
Management
The Concept of Market
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The Concept of Market
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Market Challenger
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The firm has a relatively large share of the market, but a smaller share than the market leader.
Market Follower
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The firm which has the largest share in the relevant product market.
The firm holds a market share smaller than the market leader or potential challenger; it prefers to follow rather than to attack.
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A smaller firm which targets segments ... Show more content on Helpwriting.net ...
and R. Singh (1981) Marketing Warfare in the 1980s, Journal of Business Strategy, Winter, 30
–41.
Strategic Objectives:
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The company identifies its points of weakness and guards against attacks upon them by competitors.
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The company continues to do what it is already doing but does it better.
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The company strikes back aggressively against any competitor's attack.
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The company increases it strength by entering new geographic territories and/or new market segments, and by diversifying into other businesses.
Strategic withdrawal
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The company recognizes that it had a weakness which it cannot properly defend and deliberately chooses to move out of that product–market, using its
resources in a more beneficial way.
Strategic Objectives – Niche
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Niche Objectives
A company may decide to pursue a a small market segment or even a segment within a segment in order to avoid competition with

GE: Strategic Thinking and Strategic Planning
Literature Review
Introduction
The theories on strategy development and associated concepts of strategic thinking and strategic leadership are becoming more and more popular in
today's business environment. Leaders possessing strategic skills could turn to be the best strategy of their own as well as for their respective
organizations.
Meaning of Strategy
Today the word 'strategy' is so prevalent that there are hardly any people who know nothing about it. Conversely, with this prevailing feature of the
word, there is incredible disarray on its meaning. Analysis of literature showed that there are innumerable definitions, many of which have certain
common features.
Johnson et al. (2005) define strategy as "the direction and scope of an ... Show more content on Helpwriting.net ...
The main differences between strategic thinking and planning are the following: the first is synthesis, while planning is analytical; the basic difference
lies also in the purposes of the two processes: strategic thinking is aimed at discovering new original strategies that potentially can rewrite the
competitive game, as well as envisioning potential futures that are different from the present Mintzberg (1994). Strategic planning aims at
operationalizing strategies that are developed via strategic thinking and at supporting strategic thinking processes (Heracleos, 1998).
Tools to Articulate Strategic Directions
Strategy does not come up by itself. It is generally a result of thorough discussions and deliberations around the future of the organization. There are
several tools that are commonly used to facilitate strategic analysis articulation and development. Chief amongst these are SWOT analysis, PESTLE,
Porter's Five Forces, Ansoff matrix, BSG matrix and GE/McKinsey model. Each of these methods serves as a structured and methodical approach;
however it can be argued that Porter's Five Forces is most dominant of all.
Porter's Five Forces (1980) – referred to as P5F – provides an in–depth insight into the attractiveness on an industry from

Strategic Planning : Strategic Plan
Strategic PlanningStrategic plans result from a great amount of energy, time and focused discussion with the intention of the organizations successful
delivery of the plan to their shareholders, customers and employees. Success may not only be defined by fiscal measurements of success and may
include both short, mid and long–term strategies including; increasing market share, expanding product or service offerings, investment in the
organization or having higher customer satisfaction scores than their competitors. Often, strategic plans are financial or cost cutting iterations rather
than living breathing documents that answer the questions 1) where are we now, 2) where are we going, 3) how do we get there and 4) how did we
do? Thus,... Show more content on Helpwriting.net ...
Additionally, be prepared to quickly access additional data points that might be discussed during the discussion with the team. This will allow for
creative data comparisons that might lead to a solution not expected from the strategy session. 3.Develop the Vision, Mission, Goals and Guiding
Principles – that will tie the purpose and tasks of the organization to the strategic plan. The vision is the defined character of the organization
expected while delivering the mission and goals of the organization. The mission is the purpose of the organization and is the comparative to the
strategic plan for alignment. The mission when compared to the strategic plan asks are we doing what we said we will do? Next are defining goals,
which are the tactical, measurable and time bound tasks and projects for the team. Finally, the guiding principles provide the parameters that are
acceptable and not acceptable to achieve the mission, vision and goals. Each piece of this step helps to define and align the culture and environment
of the organization to the strategic plan by giving boundaries defining who we are, what we are doing, how we are doing and how we will act when
doing it. 4.Cost Control Assessment – is always something the team should assess, making a list of potential opportunities to control cost as a means of
being proactive in planning. This does not mean that these projects will

Essay on Strategic Management and Strategic Competitiveness
RUNNING HEAD: STRATEGIC MANAGEMENT AND STRATEGIC COMPETITIVENESS 1
Strategic Management and Strategic Competitiveness
XXXXXXXX
Strayer University
BUS 499 Business Administration Capstone
XXXXXXXX
April 18, 2013
STRATEGIC MANAGEMENT AND STRATEGIC COMPETITIVENESS 2
With offices in more than 30 countries, Red Hat, founded in 1993, is the world's leading provider of open source solutions, using a
community–powered approach to provide reliable and high–performing technologies ("Red hat company," 2012). The five technologies are cloud,
operating system, storage, middleware and virtualization. Globalization and technology have positively impacted Red Hat. ... Show more content on
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The relationship between the employee stakeholder and the corporation should be that of unity. The publicity for the company should be positive and
this can be influenced by employees of Red Hat. The employee group of Red Hat is where the heart STRATEGIC MANAGEMENTAND STRATEGIC
COMPETITIVENESS 4 of the company lies. Without the hard work and dedication of our management and employees, Red Hat would not exist.
Another Red Hat stakeholder is a person or a group that is a stockholder. A stockholder has voting power that can help make major decisions such as
mergers and acquisitions, select the board of directors and weigh in on other import issues at annual meetings (Lawrence). This group of
stakeholder's goal is to receive a positive return on investment (ROI). They have a right to review records of the corporation and sometimes do just
that if the ROI is negative. Customers are very important stakeholders. Red Hat needs to provide their customers with safe, well made, valuable
products. If they don't, their customers can go elsewhere. As stated before, some of the well–known competitors are Novell, Microsoft, and Oracle. If

Red Hat doesn't provide adequate products, they may lose valuable stakeholders. Customers will sometimes boycott a company who has unsatisfactory
products or service (Lawrence). Red Hat will do all they can do to ensure that does not

Strategic Analysis Of Pfizer's Strategic Analysis
1. INTRODUCTION
This project is the final of three reports I will complete as part of the strategic analysis of Pfizer. This report focuses on strategic implementation and
includes the following sections. First, the major concepts related to strategy implementation will be defined. Second, those concepts will be applied
to the case of Pfizer in order to analyze its corporate governance, organizational structure and strategic leadership. The analysis of Pfizer will be
followed by its evaluation to identify the major problem the company is facing and propose a solution. A short conclusion will close the report.
2. CONCEPTS
All organizations have to establish management and governance arrangements that are appropriate for their businesses, and meet the requirements of
their shareholders and customers. This section will define the concepts involved with corporate governance, organizational structure and strategic
leadership.
2.1. Corporate governance:
Agency relationship refers to a consensual relationship between two parties, where one person or entity authorizes the other to act on his, her or its
behalf, and they exist as mutual agreements between individuals, small firms and large organizations. Managerial opportunism is when managers use
employer information for personal gain, this creates a conflict of interest, with self–serving managers making decisions that benefit them rather than the
company owners or shareholders. Corporate governance problem deals with

Strategic Management And Strategic Competition
Strategic Management and Strategic Competition
Introduction
The Microsoft Corporation is a publicly traded company. It was founded in 1975 and prides itself as a leader in software and product solutions for
individuals and businesses. Their mission and vision is to be a go–to source for everyone globally, and to be able to consistently produce platforms and
products superior to the competition. Their comprehensive line–up makes them a very competitive business in the market, and one that can partner
with a multitude of sources. They feature a broad array of products and services including Windows, Office, Windows Phone, box, Skype, MSN, Bing
and Surface (Microsoft, 2015). Technology changes have been promoted by the company, and they... Show more content on Helpwriting.net ...
Microsoft will continue to be a major competitor and industry leader through its strategic management and objectives.
Globalization and Technology The Microsoft Corporation thrives on efforts of globalization and advances in technology. The spread of
communication and markets have resulted in economic interdependence. As a global company, Microsoft is familiar with many of the changes that
are occurring because competition and the availability of new opportunities in different places. Computers and the internet are connecting people,
businesses and cultures in more ways than ever before. Microsoft has aimed to be at the forefront of these developments, and a consumer choice in
services and products that aid in globalization efforts. The movement of people and businesses demand that people are able to design and share
critical information among and across groups. This results in technology diffusion, which is the "speed at which new technologies become available
and are used" (Hitt, Ireland & Hoskisson, p. 10). Microsoft can also be considered to have engaged in perpetual innovation. With companies like Apply
constantly and rapidly designing new technologies and software, Microsoft had to follow suit. Technology has resulted in some interesting and
powerful trends and opportunities for people and businesses alike.
Industry Organization Model versus Resource–Based Model There

Strategic Pl Strategic Planning
6. Imperative strategic planning approach
Mechanisms for imperative strategic plan for setting up of more efficient funding mechanisms examined, either by creating new structures or by
strengthening or restructuring the existing ones, for promotion of basic research in imperative strategic plan. Personnel of imperative strategic plan as
imperative strategic technologists, while being large in absolute numbers is not commensurate with the requirements in imperative strategic and when
measured on a per capita basis. Organizational imperative strategic involves uncommon events and recognition of entrepreneurial firms. The
multivariate analysis of the error variance also led us to verify that, it decreases with formal education and work experience prior to the current
imperative strategic planning. These results cannot be explained by conventional human capital models and provide a more robust test of learning.
Management of imperative strategic plan has an important role in any general collective to address the problems of management of the impacts of
natural hazards. The introduction of imperative strategic planning management positions to explain differences in managerial imperative strategic
could make the information about the characteristics of the manager irrelevant in determining imperative strategic. After all, holding a particular
imperative strategic planning position implies having the ability required for the imperative strategic planning

Strategic Management And Strategic Competitiveness
The paper that I'm writing will help you to gain information on how Strategic Management and Strategic Competitiveness play hand and hand when
dealing with a business. The business that I have choose to write about is Nike. I have always wanted to know the practices that Nike used in order
to make their business last this long and how have they been so successful. I will explain to you how globalization and technology changes have
helped or hurt the company and the major role that it has played. I also plan to construct a plan to see how my corporation could earn above–average
returns and increase their gaining potential. I will explain Nike's vision and mission statement and show how ... Show more content on Helpwriting.net
...
All companies must be competitive and compete with other businesses to sell their goods and services in the marketplace. Competitiveness is an
important factor and sometimes the driving force in determining whether a company barely gets by, prospers, or fails. If your business fails that could
be because you didn't have a good strategic management plan place or also for one of the following reasons; the neglecting operations strategy, putting
too much emphasis on short–term financial performance at the expense of research and development or failing to take advantage of strengths and
opportunities are some of the strong reason for a business not succeeding.
Effects of globalization and technology the Nike Corporation
Globalization and technology have impacted the Nike Corp. because the time right now is the best opportunity to increase profits and revenue,
because never in the history business opportunities has there been such an opportunity to sell as many goods to as many people worldwide as there
is right now in this day and age. That's what Globalization and technology has done for the Nike Corporation. It has allowed for Nike to reach people
that have never been reached before and this is due to, a removal or reduction on financial restrictions, the explosion of the technology revolution and
the combination of reduced trade

Strategic Planning And Strategic Marketing Planning
Strategic marketing planning was formally introduced in 1950s with its all reviving attributes. The big organisations helped to grown the strategic
planning orderly, it called comprehensive structure, later it adopted by numerous big and small organisations, George A. Steiner describes in his book
"Strategic Planning".
There are various definitions of market strategy and every definition has its own aspect (Li et al 2000). According to Wensley (1983)marketing strategy
is an act, a practice and a set of expertise, to analyse the business position. In (1992) Walker Boyd LarrechГ© concluded strategic marketing planning is
to efficiently assign and equalised marketing resources to attain the goal within the particular market, hence defining ... Show more content on
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The first step presents the organisation's current situation, with an external and internal audit. The second step indicates that the strategies related to
the product goals, the portfolio and competition is decided. Organisation also decides who are their customers by STP process, (setting up a product by
deciding the specific groups of segments with various demands, attributes and attitudes that match with their unique needs, then organisation target the
specific group of consumers to sell their products or services, positioning is an effort to make a perception of a product or service in targeted
customer's mind).
The organisation takes decision by reviewing the product and decides whether to expand or hold back. Organisation set a plan, whether to choose a
niche market, compete within an aggressive market or divest by adopting competitive strategy. The third step is based on a set up called marketing
mix which helps marketers to decide the essentials to determine the targeted audience. Marketing mix is based on product, price, place and promotion
which is also known as 4P's. The second last step is for organisation is to decide what is important and finally how to establish the arrival. Finally,
Kotler talks about the last step which is to make sure that everyone is going in the right direction and the decisions and following strategies are
perfectly implemented about the

Strategic Management
CHAPTER 1
The Nature of Strategic Management
True/False
Introduction
1. The underpinnings of strategic management hinge on managers gaining an understanding of competitors, markets, prices, suppliers, distributors,
governments, creditors, shareholders and customers worldwide.
Ans: TPage: 4
2. Although the Internet has increased in popularity, it has actually led to increases in company expenses.
Ans: FPage 4
3. Consumer e–commerce is five times greater than business–to–business e–commerce.
Ans: FPage 4
What Is Strategic Management?
4. Optimizing for tomorrow the trends of today is the purpose of strategic management.
Ans: FPage: 5

5. Even though useful, ... Show more content on Helpwriting.net ...
Ans: FPage: 10
27. A clear mission statement describes the values and priorities of an organization.
Ans: TPage: 10
28. As of 2004, Wal–Mart was the largest corporation in the world.
Ans: TPage 11
29. Strengths and weaknesses are determined relative to competitors.
Ans: T Page: 12
30. In a multidivisional firm, objectives should be established for the overall company and not for each division.
Ans: FPage: 13
31. Objectives should be measurable, quantitative, challenging, realistic, consistent and prioritized.
Ans: TPage: 13
32. Annual objectives are long–term milestones that organizations must achieve to reach short–term objectives.
Ans: FPage: 13
33. Annual objectives are especially important in strategy formulation.
Ans: FPage: 13
34. According to research, a healthier workforce can more effectively and efficiently implement strategies.
Ans: TPage: 13

The Strategic–Management Model
35. Identifying an organization's existing vision, mission, objectives and strategies is the final step for the strategic management process.
Ans: FPage: 15
36. Once an effective strategy is designed, modifications are rarely required.
Ans: FPage: 15
37. Application of the strategic–management process is typically more formal in larger and well–established organizations.
Ans: TPage: 15
Benefits of Strategic Management
38. Followed by commitment, understanding is the most important

Strategic Leadership And Organisational Strategic Direction
Introduction
Adopting the right strategy is fundamental to the success of a business. Strategic decisions determine what products a firm will offer, which markets it
will compete in and how it will compete. These decisions usually involve heavy investment and high levels of new markets, taking over competitors or
redefining the business purpose are all strategic decisions. Companies have to modify their strategies in response to changes in the market or
competitors ' actions. To operate and manage all those strategy organisation need appropriate strategic leadership. This report will focus on the links
between strategic management, leadership and organisational strategic direction of Dyson. The reader of this report will have a clear idea ... Show more
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(Look at Wal–Mart, Southwest Airlines, FedEx, Apple and Intel) Strategy is about making the decision to stand for something that differentiates you
from the competition, "deliberately choosing to be different" AND making decisions, trade–offs and choices that supports this organizations choice. "A
strategy delineates a territory in which a company seeks to be unique." This reinforces the aspect that a business cannot be all things to all people.
"Sound strategy starts with the right goal" and it must have "continuity". Enter Leadership – The CEO, the Chief Strategist. He must know what his
company stands for and he must communicate this to every person. Successful Leaders own the fact that they must make the tough decisions and
define the trade–offs the organization is bombarded with on a daily basis. Leaders in an organization "need to provide the discipline and the glue that
keeps such a unique position sustained over time. The guardian of trade–offs". Then they must constantly evangelize the chosen position. This will
result with a workforce that is inspired, empowered and productive because everyone will be able to make decisions in

Strategic Plan For A Strategic Planning
"Dedicated to women who love their curves, Ashley Stewart started in local neighborhoods across the country. As an iconic plus
–size women 's fashion
brand, we 've always stood for fashion forward, on–trend clothing at an affordable price. Now with 89 stores across the country, one of the most
socially engaged online communities, and a leading eCommerce business, Ashley Stewart is your neighborhood brand gone global" (Ashley Stewart,
2016) Introduction – Strategic Planning Strategic planning is defined as a "process" (Abraham, 2012). Strategic planning can help you advance the
performance of your organization for the next few years by outlining some of the really big issues facing the organization. It is the size and impact of
these... Show more content on Helpwriting.net ...
Ashley Stewart's products include: Shirts (sweaters, blouses, and tank tops), pants (leggings, 5–pocket jeans, and slacks), dresses, skirts, swimwear,
shoes, and accessories (jewelry, hosiery, sunglasses, scarves, belts). Ashley Stewart also has a website that offers "web exclusive" merchandise. The
company also offers a credit card to their customers. Ashley Stewart also believes in giving back to the community. "Ashley Stewart is dedicated to
supporting our communities. We do this through philanthropic endeavors, such as supporting local charities and holding events in our stores. The
Ashley Stewart family partners with local charities across the country to spread cheer. We support causes dedicated to eliminating racism,
empowering women, and promoting peace, justice, freedom, and dignity for all" (Ashley Stewart, 2016) Competition Over the years there have been
many stores that have tried to compete with Ashley Stewart and most have failed. I have been a faithful shopper of Ashley Stewart for over 10 years.
In those ten years I have browsed stores such as Lane Bryant, Avenue, and Torrid. These stores are all catered to the plus
–size consumer, but Lane
Bryant happens to be the biggest competition to Ashley Stewart. The reason I see competition is because of location. Ashley Stewart has closed some
of their stores due to bankruptcy and the remaining stores are in what is

Strategic Management : Strategic Leadership
Introduction The focus of strategic leadership is the enduring performance potential of an organization– achieving the potential of the organization over
time so that it will thrive in the long term (Hughes, et.al, 2014). Strategic leadership happens when individuals create the direction, alignment, and
commitment needed to achieve the enduring performance potential of the organization (Hughes, et.al, 2014). Leaders are more strategic when they are
strong strategy makers, that is, when they develop effective organizational strategies. Strategy involves change, and achieving long–term performance
potential in an ever–changing environment requires continuous change. The critical issue for strategic leaders is how to make changes that
progressively build on each other and represent an evolving enhancement of the organization's well– being. The development of strategy involves some
level of analysis and assessment of internal an external factors of the organization. Strategic drivers are those determinants of sustainable competitive
advantage for an organization that determines competitive success, success factors, and value propositions. Drivers must be prioritized, and determines
where an organization will excel. As a leader, one must be prepared to change and prioritize drivers on a continuous basis. Leadership strategy describes
the organizational and human capabilities required to enact the business strategy effectively. Culture is an important aspect of

Strategic Analysis For Strategic Foresight
Assignment Two: Future Studies
Scott L. Tousignant (4467911)
American Military University (EDMG560)
Dr. Randall Cuthbert
17 May 2015 Assignment Two: Future Studies This is a review of Thinking about the future: Guidelines for strategic foresight utilizing outside
materials to provide support. The paper will address the value of strategic forecasting to an organization. Drivers, change trajectories, and turning points
will be discussed. The role of theory in emergency management will be outlined. The paper will introduce the importance of strategic vision in relation
to a time continuum. Strategies is communicating strategic action plans will be reviewed.
Strategic Forecasting Strategic forecasting provides organizations the ability to prepare for long–term future events (Hines & Bishop, 2006). Businesses
utilize forecasting as part of their business plan. It assists in the growth and vision of the organization. A business plan can play an important part in the
success or failure of an organization. "Company strategies include influencing the environment to correspond to that used for forecasts. At the same
time, companies recognize that changing variables in the environment may influence forecasts" (Markgraf, n.d.). Forecasting is just as important in
crisis action planning.
Crisis Action Planning The benefit to strategic forecasting in crisis action planning is to provide a framework upon which planning can occur (Hines &
Bishop, 2006). Forecasting

Strategic Management And Strategic Competitiveness
Running head: STRATEGIC MANAGEMENT AND STRATEGIC COMPETITIVENESS 1
Assignment 1
Gary Hobbs
Strayer University
BUS 499 – Business Administration Capstone
Professor Kristina Barnes
October 15, 2015
STRATEGIC MANAGEMENTAND STRATEGIC COMPETITIVENESS 5
The paper that I 'm writing will help you to gain information on how Strategic Management and Strategic Competitiveness play hand and hand when
dealing with a business. The business that I have chosen to write about is Nike. I have always wanted to know the practices that Nike used to make
their business last this long and how have they been so successful. I will explain to you how globalization and technology changes have helped or
hurt the company and the major role that it has played. I also plan to construct a plan to see how my corporation could earn above–average returns and
increase their gaining potential. I will explain Nike 's vision and mission statement and show how this had allowed them to continue to be one of the
most outstanding business in this day and age. In turn, I plan to show how each or stakeholder plays an important role in the success of the corporation.
Strategic Management and Competitiveness, are two separate but related topics that play a vital part of business organizations worldwide.
Competitiveness relates to the effectiveness of an organization in the marketplace to

Further, Hunger and Wheelen (2011) noted that strategic management has been defined as the set of managerial decisions and actions for determining
the long run future of the organization. Here, the set of decisions and actions includes internal and external environmental scanning, strategic
formulation (strategic planning), strategy implementation, and evaluation & control at all three levels. However, it has learned that origin of business
strategy or, strategic management discipline was started after the second word–war, around the year 1950.
School of Thoughts in Strategic Management
Strategic management has become more versatile and broader field for research and managerial practice in last six decades. To provide univocal
definition of strategy would mean ignoring the versatility of strategic management where partly competitive and partly supplementary partly paradigm
emergence has been in strategy research. Here, the choice of definition and application of strategic management technique is greatly depend on the
preference in school of thoughts one believe (Elfring & Volberda, 2001). According to Elfring & Volberda (2001), the school of thought can be
viewed as the range of thought of specific group of researcher in particular field; that is also called institutional paradigm.
The school of thoughts in strategic management started with Henery Mintzberg paper 'Strategy Formation: School of Thoughts' published in Jim
Fredrickson's collection 'Perspectives on Strategic

Strategic Planning And Strategic Management Essay
Before a business can strategically plan for the future, it must understand the overall strategic management process. According to Abraham (2012),
"Strategic management is nothing less than steering and managing a company to be successful over time–not just for the next quarter or year, but for
the long term." (sec. 1.1). Many questions will be answered during this process. "What direction should the company go in, what industry will it
compete in, and what products or services will be featured?" (Abraham, 2012, sec. 1.1). Strategic planning and strategic implementation are the two
primary parts of strategic management. This paper will focus on strategic planning. The purpose of this paper is to describe a detailed strategic plan
for The Club at Hidden Creek that will allow it to grow over the next three years. This paper will present Hidden Creek's history and current business
purpose, the present situation of Hidden Creek in the Northwest Florida golf market, and a complete Strengths, Weaknesses, Opportunities, and
Threats (SWOT) analysis. History, Products, Services, and Major Competitors The Club at Hidden Creek is a golf course located in Navarre,
Florida. Navarre is a smaller town positioned between the two larger tourist areas of Pensacola and Destin, Florida. The course was built in 1988 and
has had multiple owners over the past 28 years and has seen its good years and bad years throughout its existence. This area will be discussed more in
the "current

Strategic Planning : Strategic Thinking
Communication is key in sharing information, promoting strategic thinking, and foster relationships by working in teams within the organization.
Executives could have managers start by participating in strategic thinking with community groups and local businesses (Goldman, 2007). Organization
strategic thinking should urge employees to look ahead for opportunities as to avoid being in constant reactive mode. It is essential to communicate that
strategic thinking is goal oriented, planned over a length of time, and tied to the mission and goals of the organization. It is significant to match
employees with mentors when you can to aid in developing and fostering strategic thinking skills in addition to rewarding employees when possible
(Goldman, 2007).
Strategic thinking will involve risk taking on leaders of healthcare organizations to engage their team to create new ideas in order to support decisions
that are that are viable for the organization. If a company desires a team to think strategically they must take the required steps to nurture strategic
thinking and provide feedback (Goldman, 2007). It is important that through the strategic planning process the team evaluates all possible scenarios that
may result from the process, not just scenarios in the immediate future in order to predict the best possible outcomes in an ever–changing healthcare
environment. Leaders must continue to encourage their team, typically a diverse group of individuals each with unique

When it comes to strategic management many defined it as the management that link strategic planning decision–making. It is sometimes over looked
unless it is specifically brought up when it comes up in strategic planning. With this management in place an organization can achieve its long–term
goals. As well as plan out its future goals and endeavors for the organization to be successful. Strategy itself has many forms and levels as well; it
is broken down into smaller parts of planning. For strategy there are usually four parts to it. Having the overall Idea is the first step, it consist of
everything what you are trying to accomplish and what is trying to get done. After that you go into how to do it and break down the procedure of
what you are trying to do as well. After you have the planning and operational level, when you plan and let the operation of the plan go into effect.
Implementation is the last step when you actually put all of your planning into affect and see the results of it as well. Strategic management consists of
six key elements, using these tools can assure a successful strategic plan. These tools are; Vision, Mission, Core Value, Strategic areas of Focus,
Strategic Goals, and Action Plan. When creating a successful strategic management plan you must include these elements. Each is necessary in creating
a blueprint that will not crumble. Having the correct vision of a strategic plan can help you plan out and create a mental picture for the

Strategic Plan For A Strategic Strategy
Strategic Article Why might a business need to have a strategic focus? Companies do not always realize the importance of a strategic plan. Some think
they can just start a business and it will run itself. Educating their employees on strategic planning, and having a strategic focus is an important part of
a successful company. As an executive of a corporation, it is their responsibility to demonstrate a strategic–minded approach. According to The Key to
Becoming a Strategy Minded Executive, there are some executives that believe "if they set aside a few hours each week for uninterrupted thinking,
they will have more and better strategic ideas" (Ibarra, 2015, p. 1). This is not true though, you need to connect with others in order to have a
strategy. If you do not keep connected outside of your business, you could very well lose valuable information that could help you build your
company. Connecting with other businesses and people is so important to bring in other concepts and philosophies. The success of a business depends
on a strategic focus and how the business stays up to date on current trends, as well as the needs of their customers. In order to give your customers
what they desire you need to know the latest developments, and decide if that is an avenue you want to drive your business in. An executive constantly
needs to be looking for the latest and greatest technologies to keep their company in the competition. They may need to re–assess their goals

Strategic Alliance : Strategic Alliances
Strategic alliance is an agreement between two or more organizations to cooperate in a detailed business activity, so that each get benefited from the
strengths of one an other, and gains competitive advantage. The formation of strategic alliances has been seen as a comeback to globalization and
increasing doubt and difficulty in the business environment. Strategic alliances occupy the sharing of knowledge and expertise between partners as
well as the reduction of risk and costs in areas such as relationships with suppliers and the development of new products and technologies. strategic
alliance is sometimes equated with a joint venture, but an alliance may involve competitors, and generally has a shorter life span. Strategic
partnership is a closely related concept. This article analyzes definition of strategic alliance, its benefits, types, process of formation, and provides a
few cases studies of strategic alliances. This paper tries to synthesize the scope and role of marketing functions in the determination of effectiveness of
strategic alliances. Several propositions from a marketing perspective about the analysis of alliance process are formulated. On the basis of the
propositions, a framework is developed for future research
There are four potential benefits that international business may realize from strategic alliances simplicity of market entry: Advances in
telecommunications, computer technology and transportation have made entry into foreign markets by

Strategic Management
Chapter 1
63) The goal of strategic management is to
A) achieve competitive advantage.
B) maintain competitive advantage.
C) achieve and maintain competitive advantage.
D) eliminate competitive advantage
E) eliminate and abolish competitive advantage.
64) Strategic management focuses on integrating management, ________, and information systems to achieve organizational success.
A) marketing
B) finance/accounting
C) production/operations
D) research and development
E) all of the above
65) What can be defined as the art and science of formulating, implementing and evaluating cross–functional decisions that enable an organization to
achieve its objectives?
A) Strategy formulation
B) Strategy evaluation
C) Strategy ... Show more content on Helpwriting.net ...
79) ________ allows firms to sell products, advertise, purchase supplies, bypass intermediaries, track inventory, and eliminate paperwork.
A) Social networking
B) E–commerce
C) Blogging
D) Video sites
E) None of the above

80) The Internet has transferred power from ________ to ________.
A) businesses, individuals
B) governments, businesses
C) individuals, businesses
D) businesses, governments
E) individuals, governments
81) The trends in newspaper circulation in the United States provide support for which statement?
A) Sustainable competitive advantage is easy to maintain.
B) Several firms can have similar competitive advantages.
C) Some products are relatively immune to changes in the external environment.
D) Most competitive advantages are hard to sustain.
E) Competition is generally good for companies and consumers.
82) The one factor that has most significantly impacted the nature and core of buying and selling in nearly all industries has been
A) the Internet.
B) political borders.
C) corporate greed.
D) customer and employee focus.
E) the government.
83) Which individuals are most responsible for the success and failure of an organization?
A) Strategists
B) Financial planners
C) Personnel directors
D) Stakeholders
E) Human resource managers
84) The first step in strategic planning is generally
A) developing a vision statement.
B) establishing goals and objectives.
C) making a profit.
D)

Strategic Leadership : A Strategic Leader
Becoming a strategic leader began with an outstanding analogy comparing strategic leadership to surfing. By comparing the frustrations of failing at
surfing and not knowing what changes to make to the challenge of being told you are not a strategic leader and not being given specifics to change, the
authors effectively explained the value of understanding and utilizing strategic leadership. This paper will follow their lead in giving an understanding
of strategic leadership as well as how to utilize it in ministry.
The authors define strategic leadership as "when individuals and team enact strategic leadership when they create the direction, alignment, and
commitment needed to achieve the enduring performance potential of the organization" (Hughes, Beatty, & Dinwoodie, 2005, pg. 10) The focus of
strategic leadership seen in this definition is to bring about the "enduring performance potential of the organization" which basically means the
organization will thrive in the long run (Hughes et al., 2005, pg.11). This is the reason why alignment, direction and commitment are given (Hughes et
al., 2005).
The chapter on execute, perform and learn had significant insights into what it means to implement change and continually tune it. Leaders looking for
success in application of change need to identify implementation tactics consistent with the strategy of change (Hughes et al., 2005). It is important to
note that tactics may be misaligned very easily (Hughes et al., 2005). To

Strategic Planning : Strategic And Operational Planning
All organizations have a mission statement and a vision for the future. Every organization should know where they stand, and have an idea of where
they see themselves five to ten years from now. To make their vision a reality, they must set goals and make specific plans. The two major types of
planning used by organizations to achieve goals are strategic and operational planning. Goal setting is imperative to organizational growth, but without
planning those goals may not be attainable. Top–level managers, as well as frontline lower level managers must work together if they want their
organization to succeed. As stated by Cascella, (2002) "most business leaders recognize the importance of strategic planning, but few succeed in
translating their strategies into business results"(Cascella, 2002, Pg.1). Everyone in the organization must understand the strategic and operational
plans and how to act on them. Without this balance and understanding, there will be no improvements to the business or their customers.
Strategic Planning Strategic planning is based on the organization's mission statement and vision for the future. As stated by Simerson (2011) strategic
planning provides managers with a focus and direction in determining what is important to the organization. The CEO of the company, along with
top–level managers, makes strategic plans. Strategic planning focuses on long–term goals for the future, this could include making goals to appeal to
different markets, or to a

Strategic Management : Strategic Managers
Strategic executives are responsible for developing strategies for the organizational structure as well as the facilities and tools required to support the
mission and vision. Leaders must take into consider the degree to which the organization should operate virtually. Facilities and IT tools differ
depending on the geographical location, culture, global partnerships, industry, and types of projects within an organization.
Facility Design
Research found that the most effective facility strategy is a hybrid approach that facilitates collocated and dispersed environments (De Paoli & Ropo,
2015; Ocker, Huang, Benbunan–Fich, & Hiltz, 2011). Flexible approaches veer away from traditional offices but toward open–space or team–based
facilities (De Paoli & Ropo, 2015, pp. 68–69). Ocker referred to this combined approach as partially distributed teams (PDTs) (Ocker, Huang,
Benbunan–Fich, & Hiltz, 2011). Since IT is supporting these PDTs, there are many options available to senior managers when determining facility
types. According to De Paoli's and Ropo's research, among the unique options include open–office areas, where individual are in a sort of bay area, and
those who are on conference calls use a privacy room only for the duration of the call (2015). Virtual teams have the potential of saving a significant
amount of money that would be spent on traditional office facilities in less virtual environments, but they create leadership challenges as were
previously

Strategic Development : Strategic Planning
Strategic Development is also known as strategic planning, which is elementary in order to run a certain organisation is suppose to achieve in future. It
indicates the chains of decisions acquired by administration to regulate the long–term purposes of the business and the earnings to accomplish these
goals. When a task has been founded, strategies are established to hound it. A corporation must cultivate a system ofstrategic management to mechanize
these strategies. There are three types of strategic developments out of which we would be talking about Incremental strategy. Incremental strategy
patterns of strategic development are common in organizations however incremental strategy is where it necessitates a company to cut down its eternal
marketing plan into interim elements and allocate each element of it to each interim that have to be achieved before company makes other dedications.
Incremental marketing is one of those strategies that help certain companies that are not ready to take risk and want their business to remain small
scale. The following list how strategic development favors the managers: – Strategic Development Favors managers in such a way that if it is the
greatest improved method of managing for predicting forthcoming complications which the company will have, prospects and threats it will face.
Strategic management offers a predicting form of supervision, a controlling process of logical modification of the company to the conversions in its

Strategic Planning : A Strategic Plan
There are many opportunities to capitalize on providing consistency of strategic planning, which will improve business efficiencies by undertaking
continued systematic evaluations of all processes and overhead costs of the business economic performance. Companies can find the basis of
developing a strategic plan by understanding the functionality of the company, the structure of organizational change, the impact of the strengths and
weaknesses of the organization, and abiding by the company's mission.
Furthermore, strategic planning is the development of a well thought out plan by an organization to produce growth, please customers, achieve targeted
objectives, increase market position, and have the ability to compete in the market successfully (Bethel, 2011). In strategic planning a company must
set long–term objectives "by spelling out annual (or perhaps quarterly) performance targets, management indicates the speed at which longer–range
targets are to be approached" (Bethel, 2011). Additional forms of planning consist of short–range objectives that serve as stair steps or milestones that
an establishment can reach to achieve its goals (Bethel, 2011). In some cases, managers can face several challenges when it comes to revisions of
organizational change of a company's performance evaluation.
As a result, the issues managers may face consist of findings on how to "combat rival price discounting", "how to reduce the company's high costs to
pave the way for price

When it comes to strategic management many defined it as the management that link strategic planning decision–making. It is sometimes over looked
unless it is specifically brought up when it comes up in strategic planning. With this management in place an organization can achieve its long–term
goals. As well as plan out its future goals and endeavors for the organization to be successful. Strategy itself has many forms and levels as well; it
is broken down into smaller parts of planning. For strategy there are usually four parts to it. Having the overall Idea is the first step, it consist of
everything what you are trying to accomplish and what is trying to get done. After that you go into how to do it and break down the procedure of
what you are trying to do as well. After you have the planning and operational level, when you plan and let the operation of the plan go into effect.
Implementation is the last step when you actually put all of your planning into affect and see the results of it as well. Strategic management consists of
six key elements, using these tools can assure a successful strategic plan. These tools are; Vision, Mission, Core Value, Strategic areas of Focus,
Strategic Goals, and Action Plan. When creating a successful strategic management plan you must include these elements. Each is necessary in creating
a blueprint that will not crumble. Having the correct vision of a strategic plan can help you plan out and create a mental picture for the goal you

Strategic Compensation : Strategic Management
Strategic Compensation
Strategic compensation is a component of successful strategic management in any competitive oriented organization. It refers to any payments made in
cash or arranged benefits to an organizations employees. Unlike strategic decisions and plans which are undertaken by the top management, strategic
compensation is a reserve of the human resource department. This is the department that deals with the deployment, training and payment of the labour
force. The department undertakes all the necessary steps involved in coming up with the compensation plan and presents it to top management for
approval and a go ahead(Larkinet al, 2012).. Like every other strategy, to come up with the best strategic compensation plan requires putting together a
number of factors. The plan must be in line with the company's overall organizations business strategy and it should aim at helping accomplish it.
Secondly, it should put the company in its best position while it comes to competing with other organizations for the best persons in the labour market.
Thirdly, it should help retain and preserve the company's best employees as well as motivate them to continue desiring to steer the company to greater
heights. As the compensation plan accomplishes this, it should also promote equality among the employees andtheir efficiency in performance.
Consequently, the underlying laws as regards: the standards and relations of labour, promotion and maintenance of human rights, equality

Strategic Planning : Strategic And Organizational Planning
Every successful business has a defined vision and goals that influence the approach that is utilized to fulfill the company's objective. Strategic and
organizational planning is the cornerstone of developing a business strategy to attain an organization's purpose. With the passage of the Affordable
Care Act (ACA), strategic and organizational planning have become essential in a healthcare system's ability to remain competitive within their
community, as well as remaining compliant with governmental standards. This paper will explore strategic and organizational planning with the
purpose of exploring these concepts with a local hospital.
In general, healthcare organizations define their vision and goals as a guide to attain the mission of the business. Strategic planning develops a system in
which the organization can accomplish the vision and goals while adhering to regulatory compliance and maintaining a budget. Strategic planning is
defined as "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" (Business Dictionary.com, 2016, para. 1). Organizations utilize strategic planning to map out the direction in which the business
will progress within the next three to five years and are determined and monitored by upper management (Simply Strategic Planning, 2015). The
strategic plan provides a general outline of the course of action in which the organization will

Strategic Plan

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