Planning involves thinking ahead about what needs to be done, how it will be done, and who will do it. It is a process of selection among alternatives for future actions. Planning occurs at three levels - strategic, tactical, and operational. Strategic planning sets long-term goals, tactical planning focuses on middle management goals to support strategic plans, and operational planning develops short-term action plans at the lower levels. Effective planning involves setting objectives and choosing alternatives to meet goals in a changing environment.
Strategic management for epipl managersRaghavan VP
Strategic management and planning are important for corporate managers to carefully plan business activities and reach organizational goals. Strategic management involves strategy formulation, execution, and evaluation. Strategic planning forms an organizational blueprint and provides a cohesive platform for stakeholders. The key elements of strategic planning include understanding the future, building a shared vision, participatory processes, being sensitive to the external environment, and questioning the status quo. Strategy formulation defines visions, missions, assesses opportunities and threats, and selects strategies. Strategy execution is getting plans done according to goals through both long-term static and short-term dynamic characteristics. Strategy evaluation monitors strategy execution and advises on corrective actions.
Sales budgeting involves estimating future revenue levels, selling expenses, and profit contributions from sales. It includes preparing a sales budget that projects revenue based on forecasted unit sales and prices, and a selling expense budget that allocates approved funds for obtaining projected revenues. Major selling cost categories include compensation, travel, promotions, fulfillment, and support. Methods for determining selling expense budgets include affordable, percentage of sales, competitive parity, and return on investment approaches. The sales budgeting procedure involves situation analysis, sales forecasting, objective setting, resource planning, projections, review, and approval. Flexible approaches to budgeting like rolling and alternative budgets increase flexibility. Benefits of budgeting include planning, objective setting, coordination, performance evaluation,
- Budgeting is a process whereby future income and expenditure are decided in order to streamline the expenditure process. It serves as a monitoring and controlling method in order to manage the finances of a business.
- The basic steps to follow when preparing a budget include: updating budget assumptions, reviewing bottlenecks and available funding, stepping costing points, creating and issuing budget packages, obtaining revenue and department budgets, reviewing the budget, and processing budget iterations before issuing the final budget.
- Creating a budget is not just busy work but rather a comprehensive financial plan for achieving an organization's financial and operational goals. A budget becomes a valuable benchmark for determining how well management is ensuring objectives are attained.
The Corporate Strategic Planning processAsiri Prasad
The document outlines the corporate strategic planning process. It discusses three key levels of planning - corporate, business, and functional. The main tasks of strategic planning are establishing a vision and mission for the company, formulating strategies, developing strategic programs, and creating strategic and operational budgets. Setting a clear vision involves articulating the company's purpose, scope, values and objectives. The mission specifies the current and future products, markets, and regions the business will operate within. Together, the vision and mission provide guidance for strategic planning.
Functional objectives are derived from corporate objectives and help guide strategies across different business functions. The document discusses how functional areas like marketing, operations, finance, and human resources set objectives aligned with corporate goals for survival and growth. Functional strategies are then developed to achieve the functional objectives and coordinate efforts across departments to meet overall corporate objectives.
This document discusses strategic and operational planning. Strategic planning involves setting long-term objectives at the corporate level, while operational planning focuses on short-term objectives at lower management levels. Strategic planning includes analyzing the environment, setting objectives, and developing strategies. Operational planning involves creating functional strategies and standing, single-use, and contingency plans. The key aspects of strategic planning are developing a mission, analyzing competitors and the company's strengths/weaknesses, and selecting grand and growth strategies.
Strategic planning involves developing long-term objectives and determining how to achieve them, while operational planning sets short-term objectives. A situation analysis examines a company's competitive strengths and weaknesses as well as opportunities and threats in the industry. Starbucks uses strategic planning to establish long-range goals and a growth strategy of expanding its existing coffee business, while operational plans cover marketing, operations, and other functions needed to execute daily operations.
Strategic management for epipl managersRaghavan VP
Strategic management and planning are important for corporate managers to carefully plan business activities and reach organizational goals. Strategic management involves strategy formulation, execution, and evaluation. Strategic planning forms an organizational blueprint and provides a cohesive platform for stakeholders. The key elements of strategic planning include understanding the future, building a shared vision, participatory processes, being sensitive to the external environment, and questioning the status quo. Strategy formulation defines visions, missions, assesses opportunities and threats, and selects strategies. Strategy execution is getting plans done according to goals through both long-term static and short-term dynamic characteristics. Strategy evaluation monitors strategy execution and advises on corrective actions.
Sales budgeting involves estimating future revenue levels, selling expenses, and profit contributions from sales. It includes preparing a sales budget that projects revenue based on forecasted unit sales and prices, and a selling expense budget that allocates approved funds for obtaining projected revenues. Major selling cost categories include compensation, travel, promotions, fulfillment, and support. Methods for determining selling expense budgets include affordable, percentage of sales, competitive parity, and return on investment approaches. The sales budgeting procedure involves situation analysis, sales forecasting, objective setting, resource planning, projections, review, and approval. Flexible approaches to budgeting like rolling and alternative budgets increase flexibility. Benefits of budgeting include planning, objective setting, coordination, performance evaluation,
- Budgeting is a process whereby future income and expenditure are decided in order to streamline the expenditure process. It serves as a monitoring and controlling method in order to manage the finances of a business.
- The basic steps to follow when preparing a budget include: updating budget assumptions, reviewing bottlenecks and available funding, stepping costing points, creating and issuing budget packages, obtaining revenue and department budgets, reviewing the budget, and processing budget iterations before issuing the final budget.
- Creating a budget is not just busy work but rather a comprehensive financial plan for achieving an organization's financial and operational goals. A budget becomes a valuable benchmark for determining how well management is ensuring objectives are attained.
The Corporate Strategic Planning processAsiri Prasad
The document outlines the corporate strategic planning process. It discusses three key levels of planning - corporate, business, and functional. The main tasks of strategic planning are establishing a vision and mission for the company, formulating strategies, developing strategic programs, and creating strategic and operational budgets. Setting a clear vision involves articulating the company's purpose, scope, values and objectives. The mission specifies the current and future products, markets, and regions the business will operate within. Together, the vision and mission provide guidance for strategic planning.
Functional objectives are derived from corporate objectives and help guide strategies across different business functions. The document discusses how functional areas like marketing, operations, finance, and human resources set objectives aligned with corporate goals for survival and growth. Functional strategies are then developed to achieve the functional objectives and coordinate efforts across departments to meet overall corporate objectives.
This document discusses strategic and operational planning. Strategic planning involves setting long-term objectives at the corporate level, while operational planning focuses on short-term objectives at lower management levels. Strategic planning includes analyzing the environment, setting objectives, and developing strategies. Operational planning involves creating functional strategies and standing, single-use, and contingency plans. The key aspects of strategic planning are developing a mission, analyzing competitors and the company's strengths/weaknesses, and selecting grand and growth strategies.
Strategic planning involves developing long-term objectives and determining how to achieve them, while operational planning sets short-term objectives. A situation analysis examines a company's competitive strengths and weaknesses as well as opportunities and threats in the industry. Starbucks uses strategic planning to establish long-range goals and a growth strategy of expanding its existing coffee business, while operational plans cover marketing, operations, and other functions needed to execute daily operations.
Strategic intent refers to the long-term goals and aspirations that motivate an organization. It includes elements like vision, mission, business definition, and goals and objectives. A vision statement depicts what the organization wants to achieve, such as Tata Tea's vision to be India's foremost tea-based beverage company. The mission defines the organization's fundamental purpose and scope of operations. Goals are general outcomes while objectives specify how goals will be achieved, helping to measure progress and ensure focus. Together, these components of strategic intent provide direction and motivation for an organization's strategy.
The document outlines the phases of lean strategic planning including examining the current state, creating a strategy map and plan, and building the plan's elements. It describes analyzing strengths, weaknesses, opportunities and threats (SWOT), setting SMART objectives, and implementing the plan through policy deployment across departments. The overall goal is to create a strategic plan that leads to organizational improvement, lower costs, and financial growth through understanding the current situation and implementing initiatives.
The document discusses various topics related to business strategy formulation and implementation including:
1. Elements of a business plan such as the executive summary, market research, marketing plan, management team, and financial plan.
2. Types of strategies such as corporate, directional, growth, concentration, and stability strategies.
3. Implementation of strategies through programs, budgets, and procedures.
4. Evaluation and control of strategies by monitoring performance, comparing to standards, and taking corrective actions. Measures like ROI are discussed.
This document discusses the SAVI model for strategic management and goal setting. It introduces SAVI as an acronym that stands for speed, accuracy, volume, and investment. The SAVI model focuses on setting goals to provide added value to stakeholders. It describes the management cycle of goal setting, decision making and control, and performance measurement. The document provides details on defining goals at both the corporate and operating levels to address challenges, opportunities, and critical success factors. It also outlines the benefits and risks of using the SAVI strategic goal setting process.
The document discusses various topics related to business planning, strategic management, and strategic analysis. It defines planning, corporate planning, and business policy. It also compares traditional planning with strategic planning and discusses the levels of strategy including corporate, business, and functional strategies. Finally, it outlines the process of strategic analysis and choice, and the nature of strategic analysis at the corporate and business levels.
Corporate strategic planning involves 4 activities: defining the corporate mission, establishing strategic business units (SBUs), assigning resources to each SBU, and planning new and downsizing older businesses. The corporate mission focuses competition and values. SBUs are defined by customer groups, needs, and technology. Resources are assigned using models like BCG that evaluate market growth and share. Strategies include building, holding, harvesting, and divesting SBUs. New businesses come from growth opportunities, and older businesses may be pruned to release resources. Marketing strategies include market penetration, development, product development, and diversification.
Business Level Strategies & Functional Level StrategiesAyyazMehmood1988
The document provides an overview of business level strategies and functional level strategies. It discusses the five generic business level strategies of cost leadership, differentiation, and focused cost leadership and differentiation. It also discusses developing functional level strategies to support business level strategies. Key functions discussed include finance, marketing, operations, and human resources. Developing strategies at all levels can help a company gain a competitive advantage.
This document outlines a strategic planning process with sections on corporate and business unit level planning. At the corporate level, it involves defining the vision and mission statements, analyzing the current business portfolio using models like the Boston Consulting Group matrix, and planning for new and old businesses using tools like the Ansoff Matrix. The business unit level involves SWOT analysis, goal formulation, developing a marketing plan, and getting feedback on implementation. The overall process aims to develop and maintain strategic fit between organizational goals and changing market opportunities.
Charting A Company 's Direction - Vision, Mission, Objectives and StrategiesAshraf Danish
This document discusses key aspects of strategic management including vision, mission, objectives, and strategies. It provides examples from companies like KPJ Healthcare Berhad and 3M.
The key points covered are:
1. The importance of a clear strategic vision and mission in guiding an organization and its decisions.
2. The need to set both strategic and financial objectives to convert vision into specific performance targets and balance non-financial and financial goals.
3. Using a balanced scorecard to track objectives and provide a complete view of organizational performance.
4. Developing strategies through a collaborative process involving managers from different areas.
The document outlines the five essential elements of strategy: objective, necessary condition, success metric, target value, and means. It defines each element and provides examples to illustrate how they fit together to form a strategic plan. Specifically, it shows how setting an objective requires determining necessary conditions, then devising success metrics with target values, and identifying means to move the metrics toward the targets to achieve the objective. The overall process involves iteratively applying the five elements to break down strategies into understandable, actionable components.
This document outlines a process for management by objectives. It discusses defining a company's value proposition and formulating a vision, mission, and strategic priorities. Divisions then create objectives aligned with priorities and key performance indicators. Individual objectives cascade down as well. Challenges include cultural differences across locations and determining realistic targets. Solutions involve research, leadership commitment, competence development, and incentive structures. Engagement analysis and leadership communication are important for successful implementation. Project milestones include formulating vision and mission, objectives deployment, and status communication.
Establishing objectives is generally a political process, characterized by bargaining and conflict coupled with rational analysis” Peter Fitzroy and James Hulbert
Strategic formulation, intent & balance score cardVijay K S
The document discusses key elements of mission statements, visions, objectives, and strategic planning. It provides examples of mission statements from companies like Walmart and GE. It also discusses the differences between visions, which describe an envisioned future, and mission statements, which focus on current activities. Objectives should be specific, measurable targets derived from the strategic vision. A balanced scorecard approach uses both financial and strategic objectives. Finally, it outlines the hierarchy from vision to goals to objectives to tactics in strategic planning.
The document discusses strategic intent and the balanced scorecard approach to strategic management. It defines strategic intent as the purpose and direction an organization aims to achieve. Key elements of strategic intent include vision, mission, goals, and objectives. These elements form a hierarchy with the vision at the top as the long-term goal, followed by the mission which articulates how the vision will be achieved, then specific goals and objectives with metrics to evaluate performance. The balanced scorecard framework translates strategic intent into objectives and measures across financial, customer, internal process, and learning/growth perspectives.
Moving from strategic planning to operational planningwaleed abdallah
When it comes to strategy we all love to talk about our corporate strategic objectives, but how we can turn these strategic objectives to operational objectives?????
The Presentation is on the Strategic Formulation, where the students and people from corporate can use this as a guiding document. This is in continuation with the Environmental scanning and Internal analysis
The document discusses adopting a collaborative strategic planning process involving cross-functional teams. It emphasizes the importance of engaging stakeholders from all levels to develop strategies and ensure successful implementation. A collaborative approach helps break down silos, leverage synergies, and better coordinate strategies across the organization.
STRATEGIC OBJECTIVES AND FINANCIAL OBJECTIVESNIKHIL R K
This document discusses strategic management and objectives. It defines key terms like vision, mission, objectives, strategies and policies. Vision is a long term plan that inspires people towards a common goal. Mission explains the organization's purpose and customers. Strategies are plans to sustain in the market long term, while policies guide decisions. Objectives can be strategic, like improving competitive position, or financial, such as increasing revenues or profits. Both types of objectives are important for strategic management.
The document discusses various aspects of the planning process, including:
1) Planning involves identifying goals and selecting actions to achieve them, while strategy refers to the decisions and actions managers take to reach goals.
2) There are multiple levels and types of planning, from corporate-level plans made by top management down to functional plans by department managers.
3) The planning process involves determining an organization's mission and goals, analyzing strengths/weaknesses, and formulating strategies to achieve objectives over different time horizons.
This document discusses planning and related concepts from a management perspective. It defines planning as identifying goals and selecting courses of action to achieve them. The planning process involves establishing objectives, considering planning premises like forecasts, determining alternative courses of action, evaluating alternatives, selecting a course, and developing supporting plans. Different types of plans like strategic, tactical, standing, and single-use plans are described. The importance of planning for direction, coordination, reducing uncertainty, and control is highlighted.
The document provides an overview of the planning process within an organization. It defines key planning concepts like vision, mission, objectives, strategies, policies, procedures, rules, programs and budgets. It then outlines the typical planning cycle which involves 8 steps - 1) Being aware of an opportunity, 2) Establishing objectives, 3) Developing premises, 4) Determining alternative courses, 5) Evaluating alternatives, 6) Selecting a course, 7) Formulating derivative plans, and 8) Numberizing plans through budgeting. Tools like SWOT analysis and techniques like cost-benefit analysis are used during the planning process. The overall planning process allows an organization to systematically analyze opportunities, set goals and strategies, and develop coordinated action
This document provides an overview of planning concepts including what planning is, types of planning, the purpose of planning, and the relationship between planning and performance. It discusses elements of planning such as goals, plans, types of goals including strategic, tactical, and operational goals. It also covers types of plans including strategic, operational, long-term, short-term, and more. Additionally, it defines SMART goals and explains the goal setting process and concept of Management By Objectives (MBO).
Strategic intent refers to the long-term goals and aspirations that motivate an organization. It includes elements like vision, mission, business definition, and goals and objectives. A vision statement depicts what the organization wants to achieve, such as Tata Tea's vision to be India's foremost tea-based beverage company. The mission defines the organization's fundamental purpose and scope of operations. Goals are general outcomes while objectives specify how goals will be achieved, helping to measure progress and ensure focus. Together, these components of strategic intent provide direction and motivation for an organization's strategy.
The document outlines the phases of lean strategic planning including examining the current state, creating a strategy map and plan, and building the plan's elements. It describes analyzing strengths, weaknesses, opportunities and threats (SWOT), setting SMART objectives, and implementing the plan through policy deployment across departments. The overall goal is to create a strategic plan that leads to organizational improvement, lower costs, and financial growth through understanding the current situation and implementing initiatives.
The document discusses various topics related to business strategy formulation and implementation including:
1. Elements of a business plan such as the executive summary, market research, marketing plan, management team, and financial plan.
2. Types of strategies such as corporate, directional, growth, concentration, and stability strategies.
3. Implementation of strategies through programs, budgets, and procedures.
4. Evaluation and control of strategies by monitoring performance, comparing to standards, and taking corrective actions. Measures like ROI are discussed.
This document discusses the SAVI model for strategic management and goal setting. It introduces SAVI as an acronym that stands for speed, accuracy, volume, and investment. The SAVI model focuses on setting goals to provide added value to stakeholders. It describes the management cycle of goal setting, decision making and control, and performance measurement. The document provides details on defining goals at both the corporate and operating levels to address challenges, opportunities, and critical success factors. It also outlines the benefits and risks of using the SAVI strategic goal setting process.
The document discusses various topics related to business planning, strategic management, and strategic analysis. It defines planning, corporate planning, and business policy. It also compares traditional planning with strategic planning and discusses the levels of strategy including corporate, business, and functional strategies. Finally, it outlines the process of strategic analysis and choice, and the nature of strategic analysis at the corporate and business levels.
Corporate strategic planning involves 4 activities: defining the corporate mission, establishing strategic business units (SBUs), assigning resources to each SBU, and planning new and downsizing older businesses. The corporate mission focuses competition and values. SBUs are defined by customer groups, needs, and technology. Resources are assigned using models like BCG that evaluate market growth and share. Strategies include building, holding, harvesting, and divesting SBUs. New businesses come from growth opportunities, and older businesses may be pruned to release resources. Marketing strategies include market penetration, development, product development, and diversification.
Business Level Strategies & Functional Level StrategiesAyyazMehmood1988
The document provides an overview of business level strategies and functional level strategies. It discusses the five generic business level strategies of cost leadership, differentiation, and focused cost leadership and differentiation. It also discusses developing functional level strategies to support business level strategies. Key functions discussed include finance, marketing, operations, and human resources. Developing strategies at all levels can help a company gain a competitive advantage.
This document outlines a strategic planning process with sections on corporate and business unit level planning. At the corporate level, it involves defining the vision and mission statements, analyzing the current business portfolio using models like the Boston Consulting Group matrix, and planning for new and old businesses using tools like the Ansoff Matrix. The business unit level involves SWOT analysis, goal formulation, developing a marketing plan, and getting feedback on implementation. The overall process aims to develop and maintain strategic fit between organizational goals and changing market opportunities.
Charting A Company 's Direction - Vision, Mission, Objectives and StrategiesAshraf Danish
This document discusses key aspects of strategic management including vision, mission, objectives, and strategies. It provides examples from companies like KPJ Healthcare Berhad and 3M.
The key points covered are:
1. The importance of a clear strategic vision and mission in guiding an organization and its decisions.
2. The need to set both strategic and financial objectives to convert vision into specific performance targets and balance non-financial and financial goals.
3. Using a balanced scorecard to track objectives and provide a complete view of organizational performance.
4. Developing strategies through a collaborative process involving managers from different areas.
The document outlines the five essential elements of strategy: objective, necessary condition, success metric, target value, and means. It defines each element and provides examples to illustrate how they fit together to form a strategic plan. Specifically, it shows how setting an objective requires determining necessary conditions, then devising success metrics with target values, and identifying means to move the metrics toward the targets to achieve the objective. The overall process involves iteratively applying the five elements to break down strategies into understandable, actionable components.
This document outlines a process for management by objectives. It discusses defining a company's value proposition and formulating a vision, mission, and strategic priorities. Divisions then create objectives aligned with priorities and key performance indicators. Individual objectives cascade down as well. Challenges include cultural differences across locations and determining realistic targets. Solutions involve research, leadership commitment, competence development, and incentive structures. Engagement analysis and leadership communication are important for successful implementation. Project milestones include formulating vision and mission, objectives deployment, and status communication.
Establishing objectives is generally a political process, characterized by bargaining and conflict coupled with rational analysis” Peter Fitzroy and James Hulbert
Strategic formulation, intent & balance score cardVijay K S
The document discusses key elements of mission statements, visions, objectives, and strategic planning. It provides examples of mission statements from companies like Walmart and GE. It also discusses the differences between visions, which describe an envisioned future, and mission statements, which focus on current activities. Objectives should be specific, measurable targets derived from the strategic vision. A balanced scorecard approach uses both financial and strategic objectives. Finally, it outlines the hierarchy from vision to goals to objectives to tactics in strategic planning.
The document discusses strategic intent and the balanced scorecard approach to strategic management. It defines strategic intent as the purpose and direction an organization aims to achieve. Key elements of strategic intent include vision, mission, goals, and objectives. These elements form a hierarchy with the vision at the top as the long-term goal, followed by the mission which articulates how the vision will be achieved, then specific goals and objectives with metrics to evaluate performance. The balanced scorecard framework translates strategic intent into objectives and measures across financial, customer, internal process, and learning/growth perspectives.
Moving from strategic planning to operational planningwaleed abdallah
When it comes to strategy we all love to talk about our corporate strategic objectives, but how we can turn these strategic objectives to operational objectives?????
The Presentation is on the Strategic Formulation, where the students and people from corporate can use this as a guiding document. This is in continuation with the Environmental scanning and Internal analysis
The document discusses adopting a collaborative strategic planning process involving cross-functional teams. It emphasizes the importance of engaging stakeholders from all levels to develop strategies and ensure successful implementation. A collaborative approach helps break down silos, leverage synergies, and better coordinate strategies across the organization.
STRATEGIC OBJECTIVES AND FINANCIAL OBJECTIVESNIKHIL R K
This document discusses strategic management and objectives. It defines key terms like vision, mission, objectives, strategies and policies. Vision is a long term plan that inspires people towards a common goal. Mission explains the organization's purpose and customers. Strategies are plans to sustain in the market long term, while policies guide decisions. Objectives can be strategic, like improving competitive position, or financial, such as increasing revenues or profits. Both types of objectives are important for strategic management.
The document discusses various aspects of the planning process, including:
1) Planning involves identifying goals and selecting actions to achieve them, while strategy refers to the decisions and actions managers take to reach goals.
2) There are multiple levels and types of planning, from corporate-level plans made by top management down to functional plans by department managers.
3) The planning process involves determining an organization's mission and goals, analyzing strengths/weaknesses, and formulating strategies to achieve objectives over different time horizons.
This document discusses planning and related concepts from a management perspective. It defines planning as identifying goals and selecting courses of action to achieve them. The planning process involves establishing objectives, considering planning premises like forecasts, determining alternative courses of action, evaluating alternatives, selecting a course, and developing supporting plans. Different types of plans like strategic, tactical, standing, and single-use plans are described. The importance of planning for direction, coordination, reducing uncertainty, and control is highlighted.
The document provides an overview of the planning process within an organization. It defines key planning concepts like vision, mission, objectives, strategies, policies, procedures, rules, programs and budgets. It then outlines the typical planning cycle which involves 8 steps - 1) Being aware of an opportunity, 2) Establishing objectives, 3) Developing premises, 4) Determining alternative courses, 5) Evaluating alternatives, 6) Selecting a course, 7) Formulating derivative plans, and 8) Numberizing plans through budgeting. Tools like SWOT analysis and techniques like cost-benefit analysis are used during the planning process. The overall planning process allows an organization to systematically analyze opportunities, set goals and strategies, and develop coordinated action
This document provides an overview of planning concepts including what planning is, types of planning, the purpose of planning, and the relationship between planning and performance. It discusses elements of planning such as goals, plans, types of goals including strategic, tactical, and operational goals. It also covers types of plans including strategic, operational, long-term, short-term, and more. Additionally, it defines SMART goals and explains the goal setting process and concept of Management By Objectives (MBO).
This document provides an overview of key concepts in planning, including definitions of planning, types of planning, the purpose of planning, and the relationship between planning and performance. It discusses elements of planning such as goals, plans, types of goals including strategic, tactical and operational goals. It also covers types of plans, SMART goals, the goal setting process, and the concept of Management By Objectives.
The fundamentals in this slide presentation are important in understanding the concept of planning, the various types of plans, and the strategic management process
The total productivity and partial productivity measures for labour, capital and raw materials have decreased from 2002 to 2003. This indicates that the company's overall efficiency and utilization of resources have reduced over the years. The company needs to focus on improving its operations to enhance productivity.
This document provides an overview of strategic management and the strategic planning process. It discusses establishing strategic direction through vision, mission, and identifying key performance areas. It covers developing business strategies, organizing strategy development, and gap analysis and objective setting. It then outlines the action planning process to align the organization to the strategy through communication and training. Finally, it discusses implementing the strategic plan, measuring and auditing results, and developing a continuous improvement process using the PDCA cycle.
The document discusses various concepts related to strategic planning and corporate strategy formulation. It begins with defining strategy and the importance of strategic planning. It then covers the following key points:
1. The stages of corporate strategy formulation including developing a strategic vision, setting objectives, crafting a strategy, implementing and executing the strategy, and monitoring performance.
2. Michael Porter's generic strategies of cost leadership, differentiation, and focus.
3. Strategic alternatives like stability, expansion, retrenchment, and combinations thereof.
4. Factors to consider when selecting between strategic options like SWOT analysis and Porter's five forces framework.
The document discusses various components of a decision support system that help decision making. It provides three examples:
1. Annual budgets which allocate money to activities/departments and are compared to actual expenditures in a feedback loop.
2. Daily financial statements like income, cash flow, and balance sheets that provide up-to-date information, especially on cash flow.
3. Daily ratios reports that analyze dozens of important company aspects like profits, returns, costs, and compare to history, competitors, and industry to identify deviations requiring intervention. Ratios help rationalize policies and warn of impending issues.
This document discusses strategic planning and management. It defines strategic management as setting decisions and actions to implement strategies that provide a competitive advantage to achieve organizational goals. The strategic management process involves scanning the internal and external environment, formulating strategy, and implementing strategy through changes in leadership, culture, structure, human resources, and information systems. Strategy formulation develops the organization's goals and strategic plan, while strategy implementation uses managerial tools to achieve strategic outcomes.
1. Planning involves identifying goals and strategies for an organization. It includes corporate, business unit, and functional level plans with time horizons from 1 to more than 5 years.
2. Key aspects of planning include determining the organization's mission and major goals, analyzing the situation to formulate strategies, and implementing strategies by allocating resources and responsibilities.
3. Effective planning provides direction, coordination, and control for an organization. It involves managers at all levels and helps the organization work toward common objectives.
1. Planning involves identifying goals and strategies for an organization. It includes corporate, business unit, and functional level plans with time horizons from 1 to over 5 years.
2. Key aspects of planning include determining the organization's mission and major goals, analyzing the situation to formulate strategies, and implementing strategies by allocating resources and responsibilities.
3. Effective planning provides direction, coordination, and control for an organization. It involves managers at all levels and helps the organization work toward common objectives.
The document outlines steps for developing an annual operational plan, including starting with the strategic plan, defining short-term priorities and goals, prioritizing initiatives, building a budget, and taking action. Key elements are aligning the operational plan with the strategic plan, focusing resources on short-term priorities, setting measurable annual goals, and communicating the plan to ensure accountability.
The document discusses key concepts in marketing strategy and planning including vision, mission, objectives, goals, core competencies, strategic architecture, products/services, stakeholders, and critical resources. It also outlines steps for creating a marketing plan such as summarizing the strategic situation, describing target markets, setting objectives, formulating a marketing program, and forecasting sales.
The document discusses strategic alignment of projects with business strategy. It emphasizes understanding the company's vision, mission, and strategic objectives to ensure projects deliver business value. Projects must identify their strategic elements and align their strategy with overarching business goals. Regular communication is needed to demonstrate a project's strategic alignment to stakeholders using tools like roadmaps, dashboards, and balanced scorecards.
This document discusses strategic planning and the planning process. It begins by explaining the importance of planning and the different levels of planning - strategic, tactical, and functional. It then describes strategic planning in more detail, including developing a vision and mission, setting goals, creating strategies, and allocating resources. The document also discusses how the degree of diversification impacts the complexity of planning. Finally, it outlines the typical planning process which involves tasks like diagnosing opportunities/threats, developing strategies, preparing plans, and controlling results.
This document provides an overview of Catalyst Strategies' strategic planning framework. It discusses key elements of developing a strategic plan such as defining a vision, mission, situation assessment, goals, strategy, and strategic priorities. The framework is intended to guide organizations through the strategic planning process from assessing their current situation to developing long-term goals and priorities to achieve their vision.
Anaplan and Deloitte webinar: The fundamentals of zero-based budgetingAnaplan
Executives are re-embracing zero-based budgeting (ZBB) to empower department leads to take control and ownership of their budgets in order to reduce unnecessary costs and rationalize activities throughout the value chain. However, without the right tools in place, completing a full ZBB cycle can be challenging for many organizations.
Join Anaplan as we host a webinar featuring Ed Majors and Ron Dimon from Anaplan partner, Deloitte. They will discuss how to successfully deploy ZBB and embrace cost management as a strategic play.
This document provides an overview of strategic management and project management. It defines strategy as a long-term plan to achieve objectives. There are three levels of strategy: corporate, business, and functional. Strategic management is the process of analyzing the environment, formulating strategy, implementing strategy, and evaluating performance. Project management is initiating, planning, executing, controlling, and closing work to achieve goals within constraints. Network analysis and PERT/CPM are techniques to systematically plan and manage projects.
ज्ञानानुशासन अर्थात अकादमिक अध्ययन अध्यापन और शोध की एक विशेषीकृत विधा , जिसका सम्बन्ध उच्च शिक्षा से है | ज्ञानानुशासन विवेचना के स्तर पर उच्च स्तरीय, समीक्षात्मक ज्ञान की शाखाएं हैं जो अपने विशेष उपागमों (पाराडाइम) के कारण जाने जाते हैं |
ज्ञानानुशासनों में भौतिक विज्ञान , सामजिक विज्ञान , भाषा , गणित इत्यादि विद्यालय स्तर पर पढाए जाते हैं जिनको विद्यालयी विषय कहा और समझा जाता है | इन विषयों में इन ज्ञानानुशासनों के अनिवार्य, मौलिक और वे प्रकरण (टापिक) शामिल होते हैं जो विद्यालयी विद्यार्थियों के लिए उपयुक्त और अनिवार्य समझे जाते हैं | ये उनके मानसिक विकास , संज्ञानात्मक कौशल , व्यक्तित्व और सामाजिक सांस्कृतिक कारकों के अनुरूप संगठित होते हैं| विद्यालयी विषय पाठ्यचर्या के निर्माण के सिद्धांतों , मनोविज्ञान और शिक्षा नीतियों के आलोक में सृजित होते हैं और पाठ्यक्रम के अनुरूप कक्षावार पढाए जाते हैं |
ज्ञानानुशासन के बारे में एक सामान्य सी
Advance discussion in strategic decision makingChandra Pandey
This document discusses strategic decision making. It outlines 5 Ps of strategic decisions: plans, ploys, pattern, position, and perspective. It also discusses different types of strategic decision makers, contexts for decision making, and the political nature of strategic decisions within organizations. Politics in strategic decision making involves the conscious pursuit of self-interest through behaviors like controlling agendas, forming coalitions, and selectively advocating for criteria or information to influence outcomes.
The document summarizes the Hawthorne experiments conducted at Western Electric's Hawthorne plant from 1927-1932. The experiments were led by Elton Mayo and showed that social and psychological factors significantly impacted productivity more than physical work conditions. Specifically, the relay assembly test room experiment found that friendlier observation and valuing employees resulted in higher output. Overall, the Hawthorne experiments highlighted the importance of human relations in organizations and influenced the development of personnel management and organizational behavior.
Ethical theories and approaches in businessChandra Pandey
Ethical theories provide frameworks for judging right and wrong decisions in business. There are two main types: consequentialist theories which evaluate actions based on their consequences, and non-consequentialist theories which don't consider consequences alone. Utilitarianism is a consequentialist theory that tells us to maximize happiness for all affected by an action. Kant's categorical imperative is a non-consequentialist theory stating that people should always be treated as ends in themselves, never merely as a means. These theories provide guidance for formulating policies and resolving conflicts in an objective, results-oriented way.
Ch09 managing decision making and problem solvingChandra Pandey
Bob Diamond made several important decisions to turn around Barclays Capital division. He focused on hiring top performers, emphasizing teamwork, and forming client-based teams. These decisions led to the creation of innovative products and Barclays Capital becoming a top global bank. Effective decision making, recognizing mistakes, and responding quickly were keys to Diamond's success in transforming the division.
A. Mark Macias presented at the WARP Fall Conference in November 2008 on environmental scanning. He discussed defining environmental scanning, types of scans, factors to include in scans such as customers, competitors, and the macroenvironment. He provided tips on conducting scans such as using a team, allowing ample time, and presenting data visually. The presentation aimed to help others effectively conduct environmental scans for strategic planning purposes.
Human relations theory argues that workers respond primarily to the social context of the workplace, not just economic incentives. It recognizes two views of workers: Theory X, which sees workers as inherently lazy and only motivated by threats or rewards, and Theory Y, which sees workers as generally willing and able if properly motivated. Maslow's hierarchy of needs also informs human relations theory by suggesting workers have a hierarchy of physiological, safety, social, esteem, and self-actualization needs that must be met for maximum motivation and performance.
Fayol proposed 14 principles of management that are universal and can be applied to any organization. The principles include division of labor, authority, discipline, unity of command, subordination of individual interests, unity of direction, fair compensation, balance of centralization and decentralization, clear chain of command, order, fairness, job security, innovation, and team spirit. Fayol argued that by following these principles, managers could effectively plan, organize, command, coordinate, and control their organizations.
The document summarizes the Hawthorne experiments conducted at Western Electric's Hawthorne plant from 1927-1932. The experiments sought to understand how social and psychological factors in the workplace impact productivity. They found that friendlier observation and valuing employees led to higher productivity than physical changes alone. The experiments highlighted the importance of listening to employees, informal social groups, and group pressures over financial incentives. They provided an impetus for considering human relations and behavioral perspectives in management.
The document summarizes the Hawthorne experiments conducted by Elton Mayo at Western Electric's Hawthorne plant from 1927-1932. The experiments sought to understand the impact of physical and social factors on worker productivity. They found that productivity increased both when lighting was increased and decreased, showing social factors were important. Later experiments showed friendly observation and valuing employees led to higher productivity than financial incentives alone. The experiments highlighted the importance of human relations in management and influenced the development of behavioral perspectives in organizational behavior.
The document outlines a chapter on management's social and ethical responsibilities. It discusses the definition of corporate social responsibility and perspectives on the role of business in society. It also examines arguments for and against social responsibility, strategies for social responsibility, and who benefits from corporate social responsibility efforts. The chapter presents information on these topics through definitions, examples, and frameworks.
The document discusses how to conduct a functional analysis of an organization by identifying strengths and weaknesses across key functional areas like marketing, finance, operations, human resources, and technology. It provides examples of strengths in these areas for different companies. The document also discusses how to analyze an organization's value chain and resources using frameworks like the VRIO model to assess strategic importance.
Value chain analysis examines the activities within a company involved in producing and delivering a product or service. It looks at the linked set of activities from raw materials to the final customer. An industry value chain looks at a firm's primary activity and area of expertise within an industry. A corporate value chain analysis examines each product line's value chain to identify strengths and weaknesses, analyzes linkages within each product line, and evaluates potential synergies among different product lines.
The document discusses organizational appraisal and the VRIO framework. It explains that organizational appraisal involves identifying a firm's resources, classifying them as strengths or weaknesses, combining strengths into capabilities, assessing their potential for competitive advantage, selecting strategies to exploit resources and capabilities, and identifying gaps to improve weaknesses. The VRIO framework evaluates whether resources provide value and competitive advantage, are rare, costly to imitate, and whether the organization is exploiting the resources. If the answer is yes in any category, the resource is strategically important.
Strategic intent is an obsession that drives an organization even if it is disproportionate to its current resources and capabilities. It provides clear direction on what the organization aims to achieve. A vision is broader and more aspirational than a specific idea - it depicts where an organization wants to be in the future. Creating an envisioned strategic framework involves defining the organization's core ideology and envisioned future state. Having a clear vision fosters experimentation, long-term thinking, and risk-taking. A mission statement describes the essential social purpose and reason for an organization's existence. It specifies who the organization serves and the nature of its business.
Role of strategic management in marketing,Chandra Pandey
Strategic management plays an important role in marketing, finance, HR, and competitiveness. HR systems should align with business strategy in a one-way fit, but also contribute to strategy formulation in a two-way fit. SHRM is involved in every step of strategy, from formulation to implementation to evaluation. Strategic financial management helps attract resources, maximize shareholder wealth, and take decisions to ensure future growth. It involves continuous search and selection of investment opportunities, determining optimal funding mixes, financial controls, and analyzing results to guide future goals. Strategic management in marketing concerns facing long-term competition, building corporate image, and forming marketing strategies.
Strategic environmental scanning is the process of collecting, analyzing, and distributing information about external factors that could impact an organization. It provides intelligence about trends, issues, and expectations in the environment to inform strategic planning. Scanning can be done on an ad hoc, periodic, or continuous basis and should gather both macroenvironmental data as well as internal organizational factors.
The document analyzes industry structure and competition. It discusses Porter's five forces model, which examines the competitive environment through the threat of new entrants, bargaining power of suppliers and buyers, threat of substitutes, and rivalry among existing competitors. The five forces determine industry profitability and attractiveness. Industries with high barriers to entry, limited substitutes, and fragmented competition are generally more profitable. The document also provides an example analysis of competition in the airline industry in North America using Porter's five forces framework.
Environmental threat and opportunity profileChandra Pandey
This document outlines how to conduct an environmental threat and opportunity profile (ETOP) analysis for an organization. The ETOP identifies external factors in different sectors like economic, political, technological that could impact the organization. It involves subdividing sectors, identifying key issues, and assessing each issue's potential favorable, unfavorable, or neutral impact. The document provides an example ETOP analysis for a bicycle company, identifying issues in sectors like the economy, market, international trade that could threaten or benefit the company. Conducting an ETOP helps understand external opportunities and threats to inform strategic planning.
2. `
Planning is the process of deciding in advance
what is to be done, where, how and by whom it
is to be done.
it is basically a process of ‘thinking before doing
Planning is the selection from among alternatives
for future courses of action for the enterprise as
a whole and each department within it.
3. NATURE OF PLANNING
(a) Planning is a mental activity.
(b)Planning is goal-oriented
c) Planning is forward looking
(d)Planning pervades all managerial activity
(e) Planning is the primary function
(f) Planning is based on facts.
(g)Planning is flexible.
(h) Planning is essentially decision making
4. SIGNIFICANCE OF PLANNING
(a) Minimizes uncertainty.
(b) Emphasis on objectives
(c) Promotes coordination
(d)Facilitates control
(e) Improves competitive strength
(f) Economical operation
(g)Encourages innovation
h)Tackling complexities of modern business
5.
6. You all know
Business organizations serve a purpose in the
society. Simply you can understand this why to
run a business?
To earn profit( return on investment)
To serves society/customer needs( to satisfy
customer needs)
7. This purpose which is also called strategic intent
is jointly stated by Vision, mission and goal of
an organization.
Before going into the details of planning, there is
a need to understand these terms
8. Vision:
Vision is a picture of what the firm wants to be
and, in broad terms, what it wants to ultimately
achieve
Example:
• Our vision is to be the world’s best quick service
restaurant (McDonald’s)
• To make the automobile accessible to every
American (Ford Motor Company’s vision when
established by Henry Ford)
9. Mission
Mission : answers three questions
Why a company is in existence?
What it is offering?
Whom it is serving to ?
How it is serving ?
Example:
Be the best employer for our people in each
community around the world and deliver operational
excellence to our customers in each of our
restaurants (McDonald’s)
10. Goals
What an organization wants to accomplish in a
future period of time.
A desired future state an organization wants to
realize.
Goals are general statement about profitability
, growth and survival of business for a longer
period of time
11. objectives
Objectives are desired targets in specific relevant
areas that an organization wants to achieve
during a fixed time period.
Objectives are concrete , specific and
quantitative.
Objectives are statement of results, a firm seeks
to achieve during a specified period of time
13. Examples of objectives
Decrease overall customer complaints from 3% to
less than 1% by 2012
Increase the cash flow of the business by 10%
within 2 years.
14. Process of Planning in organizations
.
The Environmental Context
The organization’s mission
• Purpose • Premises • Values • Directions
Strategic goals Strategic plans
Tactical goals Tactical plans
Operational goals Operational plans
15. Steps in Planning
Being aware of opportunity Comparing alternatives in light of goals
The market , competition , customer needs Which alternative will give us the best chance of meeting goals at
, strengths and weaknesses lowest costs and highest proffit
Setting objectives or goals
Choosing an alternative
Where we want to be and what we want to
Selecting the cosur
accomplish and when
Considering planning premises Formulating supporting plans
In what environment :internal and external our Buy equipments, materials, hire workers, develop a new product
plans
Identifying alternatives:
? Numberizing plans by making budgets
What are the most appropriate alternatives Develop budgets such as volume and price of sales, operating
expenses, necessary for plans , expenditure for capital equipment
17. Types of Planning
• Strategic Planning
• A general plan outlining resource
allocation, priorities, and action steps to
achieve strategic goals. The plans are set
by and for top management.
• Tactical Planning
• A plan aimed at achieving the
tactical goals set by and for
middle management.
• Operational Planning
• Plans that have a short-term focus.
These plans are set by and for lower-level
managers.
18.
19. Strategic Goal (formed by top level management)
1.Provide 14 % return to investors for at least ten years 2.Start and purchase new
restaurant chain within five years 3. Negotiate new labor contract this year
TACTICAL GOALS (formed by Middle level Managers)
V.P OPERATIONS
•Open 150 new restaurant V.P MARKETING V.P FINANCE
in next ten Keep corporate debt to no
Increase per store sell 5% per more than 20 percent of
years, Decreasing food
container costs by 15% in 5
year for next 10 yrs., target liquid assets for next ten
and attract two new market years, Revise computerized
years, decrease average accounting
customer wait by 30 sec. segments during next 5 years, system within five years
OPERATIONAL LEVEL GOAL : LOWER LEVEL MANAGEMENTACCOUNTING MANAGER
ADVERTISING MANAGER Split accounts
RESTAURANT MANAGER
Develop regional marketing receivable/payable
Implement employee incentive
campaign this year, Negotiate 5% functions from other areas
system within one
cheaper advertising next within
year, Decrease waste by 5
year, implement this year two years, Computerize
percent this year, Hire and train
promotional strategy payroll system for each
new assistant manager
restaurant this year, Pay all
20. STRATEGIC PLANNING PROCEDURE
1. Strategic analysis is carried out
2. Mission statement is revised or
produced
3. Corporate strategy
is developed
4. Business strategies
are developed
5. Implementation is determined
6. Strategies and implementation are
assessed
7. Strategic documents are formulated and
approved
21. STRATEGIC PLAN INCLUDE
DOCUMENT STANDARD COMPONENT
Mission statement Description of product, customer group,
technology and values
Corporate strategy • Definition of businesses
(combinations of products and/or services
offered
and served markets or niches)
• Market position aspirations
(usually in terms of market share objectives for
the
Businesses
• Investment objectives
(priorities given to the investments in the
different
businesses)
22. DOCUMENT STANDARD COMPONENT
Business Level • Generic competitive strategy
Strategy (separate (cost leadership or differentiation)
for each business) • Competitive advantages on the level of offers
• Competitive advantages on the level of resources
Strategic program • Program objectives
(for each group of • Program organization
implementation (organizational structure, persons involved)
measures) • Process and milestones
(program steps, timetable)
• Budget
(internal and external program cost)
23. Tactical goals
• Tactical goals and objectives are directly related to the
strategic goals of the organization. They indicate the
levels of achievement necessary in the departments and
divisions of the organization. Tactical goals and
objectives must support the strategic goals of the
organization. For example, if a strategic goal states that
the organization is going to reduce total costs by 15
percent next year, then the different departments of the
company would set tactical objectives to decrease their
costs by a certain percentage so that the average of all
departments equals 15 percent.
24. Tactical Planning
Tactical plan
A plan aimed at achieving tactical goals and
developed to implement specific parts of a strategic
plan
25. Developing and executing Tactical plans
Developing tactical plans Executing tactical plans
• Recognize and understand • Evaluate each course of action
overarching strategic plans in light of its goal
and tactical goals • Obtain and distribute
• Specify relevant resource and information and resources
time issues • Monitor horizontal and vertical
• Recognize and identify human communication and integration
resource commitments of activities
• Monitor ongoing activities for
goal achievement
26. Example of Tactical Planning
Coca cola developed strategic plan to cement its
dominance in soft drink industry
• they identified a threat :- independent bottling
plants.
• Coca-Cola bought several large independent
bottlers and combined them into one new
organization called “Coca-Cola Enterprises
• Establishing new business was a tactical plan to
realise strategic plan.
27. Operational Goals & Operational
Planning
Operational Goals. Operational goals and
objectives are determined at the lowest level of
the organization and apply to specific employees
or subdivisions in the organization. They focus
on the individual responsibilities of employees.
For example, if the department’s tactical goal is
related to an increase in return on assets by 5
percent, then the sales manager may have an
operational objective of increasing sales by
10 percent.
28. Operational planning generally assumes the
existence of objectives and specifies ways to
achieve them. Operational planning is short-
range planning that is designed to develop
specific action steps that support the strategic
and tactical plans. Operational planning usually
has a very short time horizon, from one week to
one year.
29. Types of Operational Plans
Plan Description
Single-use plan Developed to carry out a course of action not likely to
be repeated in the future
Program Single-use plan for a large set of activities
Project Single-use plan of less scope and complexity than a
program
Standing plan Developed for activities that recur regularly over a
period of time
Policy Standing plan specifying the organization’s general
response to a designated problem or situation
Standard operating procedure Standing plan outlining steps to be followed in
particular circumstances
Rules and regulations Standing plans describing exactly how specific
activities are to be carried out
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