This document discusses various concepts related to strategic planning and management. It defines planning, identifies reasons for and criticisms of planning. It also distinguishes between strategic and tactical plans, and directional versus specific plans. Additionally, it covers topics like management by objectives, the strategic management process, grand strategies, competitive advantage, and quality as a strategic weapon.

1. PART II: Planning 3

2. Learning Outcomes After this class, I will be able to:

16. Reasons for Planning Exhibit 3.1

19. Types of Plans Exhibit 3.2 TIME SPECIFICITY FREQUENCY OF BREADTH USE FRAME OF USE Strategic Long term Directional Single use Tactical Short term Specific Standing

23. Directional versus Specific Plans Exhibit 3.3

28. Cascading of Objectives Exhibit 3.4

30. In your groups develop a very general overview or mission statement. What is your goal for the organization in five years? Mark out some important steps or stags you must reach to get there. Develop a basic organizational chart, who will do what to achieve each stage? What will they do? Exhibit 3.4

31. Goal Difficulty Is There a Downside to MBO? Goal Specificity Top Management Participation

35. SWOT: Identifying Organizational Opportunities SWOT analysis Analysis of an organization’s strengths, weaknesses, opportunities, and threats in order to identify a strategic niche that the organization can exploit Exhibit 3.6

41. Evaluating Strategy Strategy Formulation Evaluation Implementation and Execution