Lecture # 04 about strategic planning on 26th September, 2018 at Dow University of Health Sciences for MBA students.

1. SEPT 26th
, 2018
PROF DR AKHLAS AHMED
IHM – Dow University of Health sciences
CONCEPT OF STRATEGIC PLANNING IN CORPORATE SECTOR

2.  CORPORATE SECTOR
 BUSINESS WORLD
 STRATEGIC PLANNING
 TRATEGIC PLANNING PROCESS

3. CORPORATE MEANS:
Corporate means relating to
business corporations or to a
particular business corporation.

4. CORPORATE SECTOR:
CS is the part of the economy made
up by company.
It is subset of domestic economy.
It excludes the economic activities of
government, private household, non
profit organizations serving
individuals.

5. BUSINESS OR CORPORATE
WORLD:

6. STRATEGIC PLANNING
Strategic planning is an
organization's process of defining its
strategy, or direction, and making
decisions on allocating its resources
to pursue this strategy. It may also
extend to control mechanisms for
guiding the implementation of the
strategy…Wikipedia

7. Strategic planning is an organizational
management activity that is used to set
priorities, focus energy and resources,
strengthen operations, ensure that
employees and other stakeholders are
working toward common goals,
establish agreement around intended
outcomes/results, and assess and adjust
the organization's

8. STRATEGIC PLANNING:
Strategic planning is a tool that is
useful for guiding day-to-day decisions
and also for evaluating progress and
changing approaches when moving
forward

9. STRATEGIC PLANNING IMPORTANCE:
Strategic planning is important to an
organization because it provides a sense of
direction and outlines measurable goals.

10. Who is responsible for strategic planning?
All managers will have some responsibilities
for plan implementation, and communicating
the essence of the plans to employees, but if
a strategic plan fails, or the implementation
is faulty, it's the CEO (or other leaders) that
are responsible. Regarding implementing
a strategic plan, the buck stops at the top.

11. KEY COMPONENTS OF A STRATEGIC
PLAN:
It includes…
Mission
Vision
Aspirations
Core values
Strengths, weaknesses, opportunities, and threats.
Objectives
Strategies
Operational tactics
Measurements and funding streams

12. PURPOSE OF STRATEGIC PLANNING:
To set overall goals for business and to
develop a plan to achieve them. It involves
stepping back from day-to-day operations and
asking where business is headed and what its
priorities should be.

13. FIVE STEPS IN SPP:
The five stages of the process are goal-
setting, analysis, strategy formation,
strategy implementation and strategy
monitoring.
Clarify Your Vision. The purpose of goal-
setting is to clarify the vision for your
business. ...
Gather and Analyze Information. ...
Formulate a Strategy. ...
Implement Your Strategy. ...
Evaluate and Control.

14. PROCESS OF STRATEGIC PLANNING:
5 Step Process for Developing a Strategic Plan
Step 1: Write a Vision Statement.
Step 2: Write a Mission Statement.
Step 3: Perform a Gap Analysis.
Step 4: Write SMART Goals.
Step 5: Monitor Progress

15. STRATEGIC THINKING SKILLS:
It is a process that defines the manner in
which people think about, assess, view,
and create the future for themselves and
others. Strategic thinking is an extremely
effective and valuable tool. One can
apply strategic thinking to arrive at
decisions that can be related to your work
or personal life

16. WATCH VIDEOS:
https://youtu.be/mLJ34L5UW4E
https://www.youtube.com/watch?v=s_OvXeUQV3o

17. TEST # 2 (26 SEPT 2018)
WRITE UP THE ATTRIBUTE OF BUSINESS SECTOR.

18. Q/A Session