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Strategic planning
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- 2. Strategic Planning Processattempts to findStrategic Planning Process attempts to find answers of the following questions-answers of the following questions- ¥Where we have been, where we are nowWhere we have been, where we are now and where are we heading with our existingand where are we heading with our existing plans?plans? ¥Where do we want to go?Where do we want to go? ¥How do we allocate our resources?How do we allocate our resources? ¥How do we convert our plans into actions?How do we convert our plans into actions?
- 3. ¥How do ourresults compare with our plans and do deviation require new plans and actions? Level of Strategic Planning: Organizational Level Strategic Business unit Functional Dept. Sales Unit
- 4. Nature, Importance andScope of Strategic Planning Roadmap for corporate Lays down Objective and its achievements Helps in long-term Decision Making Optimum Utilization of Resources To face Future and shape its future Acquire Competitive Advantage
- 5. Major Concern ofStrategic Planning Future: Long Term Dynamics Growth: decides Direction, Extent, Pace & Time Environment Business portfolio: Product market scope & posture Integration Creating Competitive Advantage
- 6. Clarifying theMission Defining the business Surveying the Environment Internal Appraisal of the Firm Setting Corporate Objective Formulating The corporate Strategy
- 7. Clarifying the Mission Expressionof Corporate Intent Corporation Stands for Purpose Guiding Principles It is shaped by the VISION of the corporate leaders.
- 8. Reliance Industries “ Tobecome a major player in the global chemicals business and simultaneously grow in other growth industries like infrastructure.”
- 9. Defining the Business Questions: WhatBusiness are we in? Whom do we intend to serve? Do we accurately define the business? Do we know our customer? What would be the future of the business? What are our basic strengths & distinctive capabilities to pursue the present or desired business?
- 10. Defining Means Clear-cut Statement BluePrint of Product/Marketing Strategy.
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- 12. Internal Appraisal Ofthe Firm SW OT Analysis Appraising the Status of Business: PLC, Profit potential, Rate of growth. Assessment of Competitive Advantage and Core competencies.
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- 14. Setting Corporate Objective Clarity AreasWhere corporate Objectives have to be set: Growth Profitability Market share & competitive position Productivity Technology & R&D
- 15. Flexibility of BusinessPortfolio Human Resources Corporate Image Social Responsibility
- 16. Formulating the CorporateStrategy Concrete and precise Terms To Explore on Product Market Scope Growth Vector Competitive Advantage Synergy
- 17. Development of Strategies Growth: InternalGrowth: Expansion Merger Integration Conglomerate Diversification Joint Ventures Franchising
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- 19. Generic Competitive Strategy StrategiesStrategies producinghighlyproducing highly differentiated lowdifferentiated low cost servicescost services StrategiesStrategies producing highlyproducing highly differentiateddifferentiated servicesservices StrategiesStrategies producing highlyproducing highly low cost serviceslow cost services UnconsciousUnconscious servicesservices High Level of services delivered (as perceived by customer Low Cost of Service delivery High