This document discusses strategic planning and management. It begins by defining planning and distinguishing between formal and functional plans. It then discusses the strategic management process which includes formulation, implementation, and evaluation of strategic plans. Key aspects covered include setting objectives, developing strategies at the corporate, business and functional levels, and using tools like SWOT analysis to evaluate internal strengths/weaknesses and external opportunities/threats to inform strategic choices. The goal is to determine the best strategic alternative to guide the long-term direction and performance of the organization.
Strategic planning establishes organizational priorities and allocates resources to accomplish goals. It improves performance by focusing an organization and communicating priorities. A good strategic plan assesses the current state, sets goals and plans to close gaps between the current and future states. It should address critical issues, balance capabilities and goals, cover a sufficient time period, be visionary yet flexible to allow for change, and guide decision making. Key elements are the mission, guiding principles, value propositions, destination points, and areas of focus/strategies.
This document discusses strategic planning and provides guidance on developing an effective strategic plan. It explains that a strategic plan should be outward looking, based on solid market research, and have buy-in from all staff. The strategic planning process involves analyzing the industry, identifying stakeholders and strategic partners, and developing goals and key performance indicators. Operational plans then translate the strategic plan into specific actions and tasks. Individual employee goals are also linked to the operational plans. Regular review and reporting is important to ensure the plans remain on track and aligned with the organization's vision and mission.
Introduction to strategic planning
Dr. Salim Hajje conference about Strategic Planning, he helped many private companies & government organizations to formulate and implement their: Vision, Mission, KRA, Goals, Objectives, Tasks, Strategies &Tactics-
Strategic management involves formulating goals and initiatives by top management based on assessing internal and external environments. Strategic planning defines an organization's strategy and allocates resources to pursue this strategy. It involves gathering input data, strategic planning activities, producing strategic plan outputs, and implementing outcomes. Senior leadership is responsible for determining strategy through a process that can utilize tools like PESTEL analysis, scenario planning, Porter's five forces, SWOT analysis, growth-share matrix, balanced scorecard, and strategy maps.
[To download this presentation, visit: https://www.oeconsulting.com.sg/training-presentations]
Organizations need strategic planning because the world changes constantly. It is foolhardy and unrealistic to assume that economic conditions, consumer needs and expectations, competition in the marketplace, or a host of other factors will remain the same for two, three or five years into the future.
Insights from strategy consultants such as McKinsey and Gartner have revealed that although strategic planning is a basic business practice, many organisations are struggling to make it work--the results often fail to meet expectations.
Moreover, our research and experience have found that most strategic planning processes are poorly conceptualised and poorly executed; the process is often not very creative, and it is tactical rather than strategic in nature; and the so-called strategic plan rarely impacts the day-to-day decisions made in the organization.
To be successful, a strategic planning process should provide a template against which all such decisions can be evaluated.
What this guide will focus is not so much on "strategy tools," but a step-by-step systematic approach to strategic planning. The strategic planning process presented consists of eight sequential steps to guide organizational leaders and key stakeholders to plan and create its future. The Eight Steps of Strategic Planning include:
- Step 1: Plan the Planning Process
- Step 2: Define Shared Values and Mission
- Step 3: Analyze the Current Organizational Profile
- Step 4: Create an Inspiring Vision
- Step 5: Compare Current to Envisioned Organization
- Step 6: Develop Strategies, Objectives and Plans
- Step 7: Execute Action Plans
- Step 8: Monitor Results and Make Improvements
This comprehensive Strategic Planning PPT training presentation provides a model for transforming organizations and contains seven ingredients that are necessary for such transformations; that is, the strategic planning:
- Is future focused
- Is leadership driven, not leader driven
- Provides for a high level of organizational involvement
- Produces a plan that is widely understood and accepted
- Produces a plan that is comprehensive and detailed
- Is a model that can be rigorously applied
- Provides the energizing force to drive the transformation
As a process guide, the steps presented offer a unique and powerful approach to strategic planning. The steps and/or sub-steps may be adapted to suit the specific needs and desires of the organization.
LEARNING OBJECTIVES
1. Acquire knowledge on the key concepts and principles of strategic planning
2. Describe the eight-step strategic planning process and the key frameworks and tools
3. Define the key factors for successful strategic planning
CONTENTS
1. Key Concepts and Principles of Strategic Planning
2. Strategic Planning Process: The Eight-step Strategic Planning Model
3. Key Strategy Frameworks and Tools
4. Strategic Planning Best Practices
What is strategic planning?
Identify and explain different levels of planning in organisations.
Understand the relationship between corporate & functional plans.
What should be included in the strategic plan?
Evaluate the role of strategic planning.
What are the benefits of strategic planning to the firm?
What challenges are associated with strategic planning?
Strategic planning establishes organizational priorities and allocates resources to accomplish goals. It improves performance by focusing an organization and communicating priorities. A good strategic plan assesses the current state, sets goals and plans to close gaps between the current and future states. It should address critical issues, balance capabilities and goals, cover a sufficient time period, be visionary yet flexible to allow for change, and guide decision making. Key elements are the mission, guiding principles, value propositions, destination points, and areas of focus/strategies.
This document discusses strategic planning and provides guidance on developing an effective strategic plan. It explains that a strategic plan should be outward looking, based on solid market research, and have buy-in from all staff. The strategic planning process involves analyzing the industry, identifying stakeholders and strategic partners, and developing goals and key performance indicators. Operational plans then translate the strategic plan into specific actions and tasks. Individual employee goals are also linked to the operational plans. Regular review and reporting is important to ensure the plans remain on track and aligned with the organization's vision and mission.
Introduction to strategic planning
Dr. Salim Hajje conference about Strategic Planning, he helped many private companies & government organizations to formulate and implement their: Vision, Mission, KRA, Goals, Objectives, Tasks, Strategies &Tactics-
Strategic management involves formulating goals and initiatives by top management based on assessing internal and external environments. Strategic planning defines an organization's strategy and allocates resources to pursue this strategy. It involves gathering input data, strategic planning activities, producing strategic plan outputs, and implementing outcomes. Senior leadership is responsible for determining strategy through a process that can utilize tools like PESTEL analysis, scenario planning, Porter's five forces, SWOT analysis, growth-share matrix, balanced scorecard, and strategy maps.
[To download this presentation, visit: https://www.oeconsulting.com.sg/training-presentations]
Organizations need strategic planning because the world changes constantly. It is foolhardy and unrealistic to assume that economic conditions, consumer needs and expectations, competition in the marketplace, or a host of other factors will remain the same for two, three or five years into the future.
Insights from strategy consultants such as McKinsey and Gartner have revealed that although strategic planning is a basic business practice, many organisations are struggling to make it work--the results often fail to meet expectations.
Moreover, our research and experience have found that most strategic planning processes are poorly conceptualised and poorly executed; the process is often not very creative, and it is tactical rather than strategic in nature; and the so-called strategic plan rarely impacts the day-to-day decisions made in the organization.
To be successful, a strategic planning process should provide a template against which all such decisions can be evaluated.
What this guide will focus is not so much on "strategy tools," but a step-by-step systematic approach to strategic planning. The strategic planning process presented consists of eight sequential steps to guide organizational leaders and key stakeholders to plan and create its future. The Eight Steps of Strategic Planning include:
- Step 1: Plan the Planning Process
- Step 2: Define Shared Values and Mission
- Step 3: Analyze the Current Organizational Profile
- Step 4: Create an Inspiring Vision
- Step 5: Compare Current to Envisioned Organization
- Step 6: Develop Strategies, Objectives and Plans
- Step 7: Execute Action Plans
- Step 8: Monitor Results and Make Improvements
This comprehensive Strategic Planning PPT training presentation provides a model for transforming organizations and contains seven ingredients that are necessary for such transformations; that is, the strategic planning:
- Is future focused
- Is leadership driven, not leader driven
- Provides for a high level of organizational involvement
- Produces a plan that is widely understood and accepted
- Produces a plan that is comprehensive and detailed
- Is a model that can be rigorously applied
- Provides the energizing force to drive the transformation
As a process guide, the steps presented offer a unique and powerful approach to strategic planning. The steps and/or sub-steps may be adapted to suit the specific needs and desires of the organization.
LEARNING OBJECTIVES
1. Acquire knowledge on the key concepts and principles of strategic planning
2. Describe the eight-step strategic planning process and the key frameworks and tools
3. Define the key factors for successful strategic planning
CONTENTS
1. Key Concepts and Principles of Strategic Planning
2. Strategic Planning Process: The Eight-step Strategic Planning Model
3. Key Strategy Frameworks and Tools
4. Strategic Planning Best Practices
What is strategic planning?
Identify and explain different levels of planning in organisations.
Understand the relationship between corporate & functional plans.
What should be included in the strategic plan?
Evaluate the role of strategic planning.
What are the benefits of strategic planning to the firm?
What challenges are associated with strategic planning?
This is a presentation to co-operatives on strategic planning. The process of coming up with a strategic plan is as important as the final document. It is critical that co-operatives participate fully in drafting their own strategic plans and coming up with final document that they own and can implement.
Strategic plans are critical for co-operatives to prioritize what they want to achieve and within what time period.
Strategic planning is a systematic process that involves envisioning the future goals of an organization, establishing objectives and actions to achieve those goals. It provides a roadmap and framework for decision making. The strategic planning process includes assessing the internal and external environment of the organization, determining strategic direction through developing a vision and mission, setting organizational objectives, creating departmental plans and objectives, and evaluating performance. A key part of assessment involves conducting a SWOT analysis to understand the organization's strengths, weaknesses, opportunities, and threats.
Delivered infront of Tri-People (Moros, Christians, & Lumads) in MSU, Marawi City, Balabagan, Malabang, and Kapatagan for the program "Empowering Youth through Enhancing Organizational Skills and Leadership Potential towards Effective Peace Agent
in the Community Project
"
- The document discusses strategic planning for libraries, outlining the key steps and benefits of strategic planning. It covers analyzing the current situation, envisioning the future goals and direction, and developing action plans.
- Effective strategic plans help libraries adapt to changes, improve decision making, and clearly communicate their purpose and role in the community. However, plans can fail if the vision is ineffective, implementation is poor, leadership is lacking, or communication is weak.
- Developing a strategic plan requires input from library staff, leaders, users, and community partners. Plans must be regularly monitored and updated to ensure the library continues meeting its goals.
Planning and strategic planning involve thinking about and organizing activities to achieve goals. Strategic planning determines objectives, resources, and policies to attain objectives. It involves analyzing internal strengths and weaknesses as well as external opportunities and threats. Common strategic planning tools include TOWS matrix, BCG matrix, Porter's analysis, and SERVO analysis. The TOWS matrix develops strategies by matching strengths/weaknesses with opportunities/threats. The BCG matrix evaluates products based on market growth and share. Porter's analysis identifies low-cost/differentiation focus strategies. SERVO examines strategy, environment, resources, values, and organization interactions.
The document outlines the strategic management process, which consists of 5 key tasks: [1] Developing a strategic vision and mission, [2] Setting objectives, [3] Crafting a strategy, [4] Implementing and executing the strategy, and [5] Evaluating performance and initiating corrective adjustments. It emphasizes that strategy involves managerial choices to achieve organizational goals and compete successfully. Effective strategic management requires continuously monitoring performance, the external environment, and making adjustments to the strategy as needed.
Strategic Planning Workshop BY Francis Karugu, MSc, BComm, CPAFrancis Karugu
The document outlines plans for a strategic planning workshop at CDCL on February 14, 2014. The objectives are to understand strategic plans, define CDCL's 2014-2017 plan, and agree on implementation actions. Key topics to be covered include defining CDCL's vision, mission, values, current situation through a SWOT analysis, strategic issues, objectives, success factors, stakeholders, competitors, and implementation and monitoring plans. The workshop aims to develop a strategic plan to guide CDCL over the next three years.
Strategic planning involves developing a vision and mission, setting objectives, crafting a strategy, implementing and executing the strategy, and evaluating performance. A company's strategy consists of competitive moves, operating approaches, and action plans to achieve performance targets. Strategic planning addresses where the company currently stands, where it wants to go, and how it will get there. The strategy is constantly evolving due to changing market conditions, competitors, technologies, and other factors.
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.
Strategic management involves four key components: environmental scanning, strategy formulation, strategy implementation, and evaluation and control. The process begins with assessing internal and external factors, then formulating objectives and strategies. Implementation involves developing programs, budgets, and procedures. Finally, performance is monitored and strategies are adapted based on evaluation. The overall process aims to determine the organization's long-term path and manage change.
The document outlines the steps in a strategic planning workshop to define an organization's strategic process. It discusses assessing the internal and external environment, defining the vision, mission, goals and objectives, developing action plans, and evaluating performance. The workshop aims to clearly define the strategic planning process, explain how to create and execute a strategic plan, and provide a common model for the organization to follow.
this presentation is on Strategic management.
It covers following topics in detail -
Introduction of strategic management
Definition of strategic management
Mintzberg’s Views of Strategy
Features of strategic management
Role of strategic management
Process of strategic management
Need of Strategic management
Benefits of Strategic management
Limitations of strategic management
Mission & Vision
Vision and mission statements, a set of criteria for development and evaluationdaveaddy
The document discusses strategic planning concepts including strategic goals, objectives, action plans, performance measures, mission, vision, and values. It provides examples of effective and ineffective vision statements, noting characteristics like being inspiring, painting a clear picture, and being feasible. It also discusses the importance of a clear mission statement and outlines common components of effective mission statements like identifying customers, products/services, and commitment to growth.
The document discusses strategic planning and the VMOSA process. VMOSA stands for Vision, Mission, Objectives, Strategies, and Action Plan. It is a practical planning process that can help organizations define their vision and direction. The steps include defining a vision, mission, objectives, strategies, and action plan to move from ideas to concrete actions and outcomes. Organizations should use VMOSA when starting new initiatives, projects, or phases to guide their work and focus efforts.
Corporate Strategy or Strategic Management
Concepts and Cases by Fred R. David,
Francis Marion University, Florence, South Carolina, &
Forest R. David,
Strategic Planning Consultant
This article presents the Strategy Execution Model– a comprehensive management model that allows managers to master one of the greatest management challenges – successfully implementing strategies. The powerful framework incorporates 18 success factors that are related to the strategy, its execution, mobilizing the people, aligning the organization and building systems to monitor and control the execution. Collectively, these tools help organizations plan and execute their strategies but also monitor, learn and adapt their strategy and its execution to achieve sustainable organizational success.
The document provides an overview of strategic planning including the five tasks of strategic planning: forming a vision, setting objectives, crafting a strategy, implementing the strategy, and evaluating performance. It discusses factors that shape strategy choices, three tests for the best strategy (performance, competitive advantage, and fit), and analyzing industry environment to design competitive strategy using Porter's five forces model. It also outlines considerations for strategy implementation and execution.
The document outlines the steps involved in developing a strategic plan, including gathering information through tools like SWOT analysis, defining the vision, mission, values and strategy, setting goals and objectives, and ensuring stakeholders understand and support the strategic vision. It also discusses the importance of benchmarking, developing action plans for each department, and periodically reviewing and adjusting the strategic plan.
Strategic leadership involves communicating a vision to influence organizational members and execute organizational change without force or threats. It requires developing skills to cope with competition and respond to opportunities while balancing daily operations with visionary planning. Key tasks of strategic leadership include clarifying strategic intent, building an organization, shaping organizational change, developing talented operational leadership, shaping organizational culture to match strategy, matching structure to strategy, and matching leadership style to strategy. Effective strategic leadership competencies include anticipating, challenging, interpreting, deciding, aligning, and learning.
principle of management and professional ethicssabarish k.v
This document discusses planning and related concepts. It begins by defining planning as deciding in advance what to do, how to do it, when to do it, and who has to do it. Planning provides direction, leads to economical resource use, and facilitates decision-making and control. The planning process involves setting objectives, developing premises, identifying alternative actions, evaluating alternatives, selecting a course, and formulating derivative plans. There are different types of plans including long vs short-range, strategic vs operational, and proactive vs reactive. Management by objectives and strategic management are also summarized.
This chapter discusses the foundations of planning and decision making. It defines planning as involving setting goals for an organization and establishing strategies to achieve those goals. Managers plan to provide direction, reduce uncertainty, and improve performance. There are different types of goals including mission, strategic, and operational goals. Plans can be strategic, tactical, or operational based on their breadth and long-range, intermediate, or short-range based on their time frame. Management by objectives is an approach where goals are jointly set by managers and employees. Rational decision making follows steps of defining problems, identifying alternatives, evaluating them, selecting an option, implementation, and review. However, bounded rationality and intuition also influence decisions.
This is a presentation to co-operatives on strategic planning. The process of coming up with a strategic plan is as important as the final document. It is critical that co-operatives participate fully in drafting their own strategic plans and coming up with final document that they own and can implement.
Strategic plans are critical for co-operatives to prioritize what they want to achieve and within what time period.
Strategic planning is a systematic process that involves envisioning the future goals of an organization, establishing objectives and actions to achieve those goals. It provides a roadmap and framework for decision making. The strategic planning process includes assessing the internal and external environment of the organization, determining strategic direction through developing a vision and mission, setting organizational objectives, creating departmental plans and objectives, and evaluating performance. A key part of assessment involves conducting a SWOT analysis to understand the organization's strengths, weaknesses, opportunities, and threats.
Delivered infront of Tri-People (Moros, Christians, & Lumads) in MSU, Marawi City, Balabagan, Malabang, and Kapatagan for the program "Empowering Youth through Enhancing Organizational Skills and Leadership Potential towards Effective Peace Agent
in the Community Project
"
- The document discusses strategic planning for libraries, outlining the key steps and benefits of strategic planning. It covers analyzing the current situation, envisioning the future goals and direction, and developing action plans.
- Effective strategic plans help libraries adapt to changes, improve decision making, and clearly communicate their purpose and role in the community. However, plans can fail if the vision is ineffective, implementation is poor, leadership is lacking, or communication is weak.
- Developing a strategic plan requires input from library staff, leaders, users, and community partners. Plans must be regularly monitored and updated to ensure the library continues meeting its goals.
Planning and strategic planning involve thinking about and organizing activities to achieve goals. Strategic planning determines objectives, resources, and policies to attain objectives. It involves analyzing internal strengths and weaknesses as well as external opportunities and threats. Common strategic planning tools include TOWS matrix, BCG matrix, Porter's analysis, and SERVO analysis. The TOWS matrix develops strategies by matching strengths/weaknesses with opportunities/threats. The BCG matrix evaluates products based on market growth and share. Porter's analysis identifies low-cost/differentiation focus strategies. SERVO examines strategy, environment, resources, values, and organization interactions.
The document outlines the strategic management process, which consists of 5 key tasks: [1] Developing a strategic vision and mission, [2] Setting objectives, [3] Crafting a strategy, [4] Implementing and executing the strategy, and [5] Evaluating performance and initiating corrective adjustments. It emphasizes that strategy involves managerial choices to achieve organizational goals and compete successfully. Effective strategic management requires continuously monitoring performance, the external environment, and making adjustments to the strategy as needed.
Strategic Planning Workshop BY Francis Karugu, MSc, BComm, CPAFrancis Karugu
The document outlines plans for a strategic planning workshop at CDCL on February 14, 2014. The objectives are to understand strategic plans, define CDCL's 2014-2017 plan, and agree on implementation actions. Key topics to be covered include defining CDCL's vision, mission, values, current situation through a SWOT analysis, strategic issues, objectives, success factors, stakeholders, competitors, and implementation and monitoring plans. The workshop aims to develop a strategic plan to guide CDCL over the next three years.
Strategic planning involves developing a vision and mission, setting objectives, crafting a strategy, implementing and executing the strategy, and evaluating performance. A company's strategy consists of competitive moves, operating approaches, and action plans to achieve performance targets. Strategic planning addresses where the company currently stands, where it wants to go, and how it will get there. The strategy is constantly evolving due to changing market conditions, competitors, technologies, and other factors.
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.
Strategic management involves four key components: environmental scanning, strategy formulation, strategy implementation, and evaluation and control. The process begins with assessing internal and external factors, then formulating objectives and strategies. Implementation involves developing programs, budgets, and procedures. Finally, performance is monitored and strategies are adapted based on evaluation. The overall process aims to determine the organization's long-term path and manage change.
The document outlines the steps in a strategic planning workshop to define an organization's strategic process. It discusses assessing the internal and external environment, defining the vision, mission, goals and objectives, developing action plans, and evaluating performance. The workshop aims to clearly define the strategic planning process, explain how to create and execute a strategic plan, and provide a common model for the organization to follow.
this presentation is on Strategic management.
It covers following topics in detail -
Introduction of strategic management
Definition of strategic management
Mintzberg’s Views of Strategy
Features of strategic management
Role of strategic management
Process of strategic management
Need of Strategic management
Benefits of Strategic management
Limitations of strategic management
Mission & Vision
Vision and mission statements, a set of criteria for development and evaluationdaveaddy
The document discusses strategic planning concepts including strategic goals, objectives, action plans, performance measures, mission, vision, and values. It provides examples of effective and ineffective vision statements, noting characteristics like being inspiring, painting a clear picture, and being feasible. It also discusses the importance of a clear mission statement and outlines common components of effective mission statements like identifying customers, products/services, and commitment to growth.
The document discusses strategic planning and the VMOSA process. VMOSA stands for Vision, Mission, Objectives, Strategies, and Action Plan. It is a practical planning process that can help organizations define their vision and direction. The steps include defining a vision, mission, objectives, strategies, and action plan to move from ideas to concrete actions and outcomes. Organizations should use VMOSA when starting new initiatives, projects, or phases to guide their work and focus efforts.
Corporate Strategy or Strategic Management
Concepts and Cases by Fred R. David,
Francis Marion University, Florence, South Carolina, &
Forest R. David,
Strategic Planning Consultant
This article presents the Strategy Execution Model– a comprehensive management model that allows managers to master one of the greatest management challenges – successfully implementing strategies. The powerful framework incorporates 18 success factors that are related to the strategy, its execution, mobilizing the people, aligning the organization and building systems to monitor and control the execution. Collectively, these tools help organizations plan and execute their strategies but also monitor, learn and adapt their strategy and its execution to achieve sustainable organizational success.
The document provides an overview of strategic planning including the five tasks of strategic planning: forming a vision, setting objectives, crafting a strategy, implementing the strategy, and evaluating performance. It discusses factors that shape strategy choices, three tests for the best strategy (performance, competitive advantage, and fit), and analyzing industry environment to design competitive strategy using Porter's five forces model. It also outlines considerations for strategy implementation and execution.
The document outlines the steps involved in developing a strategic plan, including gathering information through tools like SWOT analysis, defining the vision, mission, values and strategy, setting goals and objectives, and ensuring stakeholders understand and support the strategic vision. It also discusses the importance of benchmarking, developing action plans for each department, and periodically reviewing and adjusting the strategic plan.
Strategic leadership involves communicating a vision to influence organizational members and execute organizational change without force or threats. It requires developing skills to cope with competition and respond to opportunities while balancing daily operations with visionary planning. Key tasks of strategic leadership include clarifying strategic intent, building an organization, shaping organizational change, developing talented operational leadership, shaping organizational culture to match strategy, matching structure to strategy, and matching leadership style to strategy. Effective strategic leadership competencies include anticipating, challenging, interpreting, deciding, aligning, and learning.
principle of management and professional ethicssabarish k.v
This document discusses planning and related concepts. It begins by defining planning as deciding in advance what to do, how to do it, when to do it, and who has to do it. Planning provides direction, leads to economical resource use, and facilitates decision-making and control. The planning process involves setting objectives, developing premises, identifying alternative actions, evaluating alternatives, selecting a course, and formulating derivative plans. There are different types of plans including long vs short-range, strategic vs operational, and proactive vs reactive. Management by objectives and strategic management are also summarized.
This chapter discusses the foundations of planning and decision making. It defines planning as involving setting goals for an organization and establishing strategies to achieve those goals. Managers plan to provide direction, reduce uncertainty, and improve performance. There are different types of goals including mission, strategic, and operational goals. Plans can be strategic, tactical, or operational based on their breadth and long-range, intermediate, or short-range based on their time frame. Management by objectives is an approach where goals are jointly set by managers and employees. Rational decision making follows steps of defining problems, identifying alternatives, evaluating them, selecting an option, implementation, and review. However, bounded rationality and intuition also influence decisions.
This document discusses strategic management. It defines strategic management as the continuous planning, monitoring, analysis and assessment necessary for an organization to meet its goals. There are three main classifications of decisions: corporate, business, and functional. The document also discusses various strategic management frameworks and tools, including Porter's generic strategies, the BCG matrix, SWOT analysis, and the Wheelen and Hunger strategic management model. Finally, it outlines the benefits of strategic management for organizations.
The document discusses planning and strategy at various organizational levels. It defines planning as setting goals and strategies to achieve them through coordinated work activities. Managers plan to provide direction, reduce uncertainty, and establish goals. Formal, quality planning leads to better performance than less planning. Goals and plans are defined, with goals as desired outcomes and plans outlining how to meet goals. Strategic plans apply to the whole organization while operational plans focus on specific areas. The means-ends chain links goals across levels so lower goals enable higher goals. Management by objectives involves collaborative goal-setting and evaluation. Effective planning considers environmental uncertainty and commitment length.
Week 5 foundation of planning - 05 02 2012Ezzy Izzuddin
1. Managers should formally plan for several key reasons: it provides direction, reduces the impact of change, minimizes waste and redundancy, and sets standards to facilitate control.
2. Planning involves defining goals and establishing strategies to achieve those goals. It considers both ends and means. Formal planning is documented while informal planning is less defined.
3. Common types of plans include strategic plans for the organization, operational plans with specifics, long-term plans over 3 years, and short-term plans under 1 year. Plans can be specific, directional, single-use, or standing.
Scott droney - presentation on strategic managementScott Droney
All businesses go through a period when you doubt if it's all working as you wanted, being able to refer back to a business plan is useful during these periods as it can help to refocus your thoughts.
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.
Managers use planning, controlling, and strategic management processes. Planning involves setting objectives and identifying how to achieve them. Control involves measuring performance against objectives and standards. Strategic management involves formulating and implementing strategies. Strategies can include growth, restructuring, global, cooperative, and e-business approaches. Formulating strategies involves analyzing strengths, weaknesses, opportunities, and threats as well as industry attractiveness. Implementing strategies requires strategic leadership and control.
The document discusses strategic management. It defines strategic management as the continuous planning, monitoring, analysis and assessment necessary for an organization to meet its goals and objectives. There are three main steps: planning, execution, and monitoring. The document outlines different classes of decisions, levels and types of strategies, and strategic models like Porter's generic strategies, BCG matrix, and Wheelen & Hunger's strategic model. It also discusses strategic management benefits like improved understanding of competitors and enhanced awareness of threats. Overall, the document provides an overview of key concepts in strategic management.
Strategic management is the process of specifying an organization's objectives, developing policies to achieve those objectives, and allocating resources to implement the policies. It involves environmental scanning, strategy formulation, strategy implementation, and evaluation and control. Strategic decisions are made at the corporate, business unit, and functional levels. Strategic intent is reflected through an organization's vision, mission, objectives, and goals. The strategic management process involves analyzing the environment, identifying strategic alternatives, choosing a strategy, implementing it, and evaluating performance. Mintzberg proposed that strategies can emerge through deliberate planning or as patterns from actions and decisions over time.
Chapter i introduction to strategic managementSuzana Vaidya
The document provides an overview of strategic management concepts including:
1. The three big strategic questions of where the organization is now, where it wants to go, and how to get there.
2. The definition of strategy as management's plan to attract customers, position in the market, conduct operations, and achieve objectives.
3. The need for strategies to shape how the business is conducted and coordinate managerial actions.
4. The strategic management process of environmental scanning, strategy formulation, implementation, and evaluation.
Lesson 7 Basic Elements of Planning and Decision MakingDR. RHEA SANTILLAN
This document discusses the basic elements of planning and decision making in organizations. It covers topics such as setting goals at different levels (mission, strategic, tactical, operational) and areas of the organization. The document also discusses managing multiple and conflicting goals, different types of plans (strategic, tactical, operational), time frames for plans, responsibilities for planning, contingency planning, crisis management, barriers to planning, and overcoming those barriers. The overall purpose is to provide guidance on goal setting and strategic, tactical, and operational planning processes in organizations.
This document discusses organisational goals and objectives. It defines goals as intermediate results to be achieved as part of a long-term plan, and objectives as specific, measurable end results of planned activities. The document outlines different types of goals, such as official goals for public image and operative goals reflecting actual intentions. It also discusses benefits of setting goals for areas like profitability, management, and social responsibility. Objectives are derived from organizational aims and should be SMART - specific, measurable, agreed upon, realistic, and time-bound. Objectives can be short-term vs long-term, tactical vs strategic, or focus on ethics and corporate social responsibility.
The document provides an overview of strategic management. It defines strategy and discusses the different levels of strategy - corporate, business, and functional. It then defines strategic management as setting long-term goals and implementing plans to achieve them. The document outlines the key components of strategic management, including environmental scanning, strategy formulation, implementation, and evaluation. For strategy formulation, it discusses analyzing the internal and external environment through SWOT analysis to identify the best course of action. It also explains the process of implementing, evaluating, and controlling strategies.
The document provides an overview of strategic management. It defines strategy and discusses the different levels of strategy - corporate, business, and functional. It then defines strategic management as setting long-term goals and implementing plans to achieve them. The document outlines the key components of strategic management, including environmental scanning, strategy formulation, implementation, and evaluation. For strategy formulation, it discusses analyzing the internal and external environment through SWOT analysis to identify the best course of action. It also explains the process of implementing, evaluating, and controlling strategies.
Role of Strategic Direction in Organization DesignPrasanth21
The document discusses strategic direction and its importance for organizational design. It explains that strategic direction refers to the actions an organization takes to achieve its strategic goals. It then discusses how different strategies like low-cost leadership, differentiation, and prospector strategies affect organizational design. Finally, it provides tips for developing an effective strategic direction, which includes involving stakeholders, setting broad goals and specific measurable objectives, tying objectives to performance measures, and regularly monitoring and updating the strategic plan.
This chapter introduces strategic management. It defines strategic management as the set of decisions and actions that result in plans to achieve a company's objectives. It describes the strategic management process as having 9 critical tasks including formulating the company's mission, conducting internal and external analyses, identifying options, selecting strategies, and evaluating results. The chapter outlines the different levels and types of strategic decisions for which managers are responsible. It also discusses the benefits of participative strategic decision making and emphasizes strategic management as an ongoing process of analysis, planning, implementation and evaluation.
Role of strategic direction in organization designJesvanthS
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2. 7-2
Learning Objectives
After studying this chapter, you will be able to:
1. Define planning and distinguish between formal and
functional plans.
2. Contrast strategic planning with operational planning.
3. Explain the differences between objectives, policies,
procedures, and rules.
4. Define the management by objectives (MBO) process.
5. Define strategy and explain the various levels of
strategies.
3. 7-3
Learning Objectives (cont’d)
After studying this chapter, you will be able to:
6. Define strategic management and explain the strategic
management process.
7. Define organizational mission and explain how
mission relates to long- and short-range objectives.
8. Discuss the components of a SWOT analysis.
9. Define a strategic business unit (SBU).
10. Discuss what organizational factors need to be
evaluated in implementing a strategic plan.
4. 7-4
The Planning Process
• Planning
• The process of deciding what objectives to pursue
during a future time period and what to do to achieve
those objectives.
• Why plan?
• Actively affect the future.
• Set objectives and “make it happen.”
• Involve personnel from across the organization.
• Positively effect managerial performance.
• Gain knowledge and experience from the planning
process.
5. 7-5
The Planning Process (cont’d)
• Formal Plans
• Written, documented plans developed
through an identifiable process.
• The environment, size and type of business
are factors that usually affect the planning
process.
• Functional Plans
• Originate from the functional areas of an
organization such as production, marketing,
finance, and personnel.
6. 7-6
The Planning Horizon
• Short-range plans
• Generally cover up to one year.
• Long-range plans
• Typically span at least three to five years.
• Some extend as far as 20 years into the future.
• Usually carried out at the top management levels.
• Intermediate plans
• Cover the term between short-range and long-range
plans.
• Usually between three to five years.
• Derived from long-range plans; short-range plans
derived from intermediate plans.
7. 7-7
Types of Plans
• Strategic planning
• Analogous to top-level, long-range planning.
• Covers a relatively long period.
• Applied at the highest levels of the organization and
affecting many parts of the organization.
• Operations or tactical planning
• Short-range planning.
• Done primarily by middle- to lower-level managers.
• Concentrates on the formulation of functional plans.
• Contingency plans
• Address the what-ifs of the manager’s job.
• Gets the manager in the habit of being prepared and
knowing what to do if something does go wrong.
• Most needed in rapidly changing environments.
8. 7-8
Setting Objectives
• Objectives
• Statements outlining what the organization is trying to
achieve.
• Provide direction to an organization and its members.
• Long-range objectives
• Go beyond the current fiscal year.
• Must support and not conflict with the organizational
mission.
• Short-range objectives
• Generally tied to a specific time period of a year or less.
• Derived from an in-depth evaluation of long-range
objectives.
9. 7-9
Classifying Objectives
• Objectives should be dynamic.
• Four general categories objectives usually fall
into:
• Profit oriented
• Service to customers
• Employee needs and well-being
• Social responsibility
• Another scheme for classifying objectives:
• Primary: Relate directly to profit
• Secondary: Apply to specific units of the organization.
• Individual: Directly concern the organization’s
employees.
• Societal: Relate to the local, national, and global
communities.
10. 7-10
Establishing Objectives
• Areas for establishing objectives in most
organizations:
• Profitability
• Markets
• Productivity
• Product
• Financial resources
• Physical facilities
• Research and innovation
• Organization structure
• Human resources
• Social responsibility
11. 7-11
How to State/Write Objectives
• The SMART criteria offer helpful
guidelines for stating and writing
objectives.
• SMART stands for:
• Specific
• Measurable
• Achievable
• Relevant
• Time-based
12. 7-12
Management by Objectives
• A philosophy based on converting
organizational objectives into personal
objectives.
• It works best when the objectives of each
organizational unit are derived from the objectives of
the next higher unit in the organization.
• People at each level become more aware of
organizational objectives.
• Objectives for an individual are jointly set by the
person and the superior; there are give-and-take
negotiating sessions between them.
• Achieving self-formulated objectives can improve
motivation and, thus, job performance.
13. 7-13
Other Approaches to Setting
Objectives
• Policies
• Broad, general guides to action that constrain or
direct the attainment of objectives.
• Create an understanding among members of a group
that makes the actions of each member more
predictable to other members.
• Procedure
• Series of related steps or tasks expressed in
chronological order for a specific purpose.
• They define in a step-by-step fashion, methods
through which policies are achieved.
• Rules
• Require specific and definite actions to be taken or
not to be taken in a given situation.
14. 7-14
Strategy
• Strategy
• Outlines the basic steps management plans
to take to reach an objective or a set of
objectives.
• Outlines how management intends to
achieve its objectives.
• Levels of Strategy:
• Corporate Strategies
• Business Strategies
• Functional Strategies
16. 7-16
Corporate Strategies
• Corporate (grand) strategies
• Address which businesses an organization
will be in and how resources will be
allocated among these businesses.
• Established at the highest level of the
organization’s management involving long-
range time horizon.
• Concerned with the overall direction of the
company and tied to the mission statements.
18. 7-18
Business Strategies
• Business strategies (competitive
strategies)
• Focus on how to compete in a given
business.
• Generally applies to a single business unit.
• Usually situational in nature.
19. 7-19
Types of Business Strategies
• Overall cost leadership
• Usually attained through a combination of
experience and efficiency.
• Usually requires that the company develop some
unique advantages over competitors.
• Requires attention to production methods, overhead,
marginal customers and overall cost reduction in
sales and R&D.
• Differentiation
• Making product(s) unique to allow company to
charge higher-than-average prices.
• Aimed to build brand loyalty and lower sensitivity to
prices by making it the company’s competitive
advantage.
20. 7-20
Types of Business Strategies
(cont’d)
• Focus
• Company directs its attention to a narrow market
segment.
• Allows company to serve this narrow market better
than competitors.
21. 7-21
Functional Strategies
• Functional strategies
• Concerned with the activities of different
functional areas of the business.
• Narrower in scope than business strategies.
• Primarily concerned with how-to issues.
• Usually in effect for a relatively short
period, often one year or less.
22. 7-22
Strategic Management
• The application of the basic planning
process at the highest levels of the
organization.
• Formulation, proper implementation, and
continuous evaluation of strategic plans.
• Determines the long run directions and
performance of an organization.
• The essence is developing strategic plans
and keeping them current.
• Guided by top management, successful
strategic management involves many levels
of the organization.
23. 7-23
Phases of Strategic
Management Process
• Formulation phase
• Developing the initial strategic plan.
• Implementation phase
• Implementation of the strategic plan that
has been formulated.
• Evaluation phase
• Continuous evaluation and updation of the
strategic plan.
24. 7-24
Formulation Phase
• Corporate and business level strategies are
chosen based on:
• Organization’s strengths and weaknesses
• Threats and opportunities the environment presents.
• The first step is obtaining a clear perspective of
current position and status of the organization.
• Identifying mission
• Identifying past and present strategies
• Diagnosing organizations past and present
performance
• Setting objectives for company’s operation.
25. 7-25
Objectives of the Company
Mission
Source: Adapted from William R. King and David I. Cleland, Strategic Planning and Policy (New York: Van
Nostrand Reinhold, 1978), p. 124.
Figure 7.3
27. 7-27
Organizational Purpose
• Drucker’s approach to defining an
organization’s present business:
• Identify the customers
• Where are they?
• How do they buy?
• How can they be reached?
• What is the customer buying?
• What is the customer looking for in the
product?
28. 7-28
Strategic Investigation
• Peter Drucker recommends four areas to
investigate:
• What is the long-term market potential?
• What changes in market structure might occur due to
economic developments, changes in lifestyle or
styles, or competition?
• What possible changes will alter customers’ buying
habits?
• What customer needs are not being adequately
served by available products and services?
29. 7-29
Mission Statement
Components
Source: From John A. Pearce II and F. R. David, “Corporate Mission Statements: The Bottom Line,”
Academy of Management Executive, May 1987. Reprinted with permission.
Figure 7.5
30. 7-30
Identifying Past and Present
Strategies
• A strategy or a series of strategies, as
reflected by the organization’s past
actions and intentions, can usually be
identified.
• The following questions can be
addressed:
• Has past strategy been consciously
developed?
• If not, can past history be analyzed to
identify what implicit strategy has
evolved?
• If so, has the strategy been recorded in
written form?
31. 7-31
Diagnosing Performance and
Setting Objectives
• Evaluating an organization’s performance
usually involves some type of in-depth
financial analysis and diagnosis of past and
present performance. The following questions
can be addressed:
• How is the organization currently performing?
• How has the organization performed over the last
several years?
• Is the performance trend moving up or down?
• The next step in formulating strategy is to
decide the long-, intermediate-, and short-range
objectives should be in light of the current
mission.
32. 7-32
SWOT Analysis
• Technique for evaluating an organization’s
internal strengths and weaknesses and its
external opportunities and threats.
• An organization’s strengths and weaknesses
are usually identified by conducting an
internal analysis of the organization.
• What things does the organization do well?
• What things does the organization do poorly?
From a resource perspective?
• What are the organization’s strengths and
weaknesses?
34. 7-34
External Environment
• Consists of everything outside the
organization.
• General economic conditions and social,
political, and technological trends
represent major factors in the broad
environment.
• Factors in the competitive environment
are close to the organization and come
in regular contact with it.
35. 7-35
Forecasting of Environmental
Trends
• Qualitative techniques are based
primarily on opinions and judgments.
• Quantitative techniques are based
primarily on the analysis of data and the
use of statistical techniques.
• Five forces model of competition
• A tool developed by Michael Porter.
• Suggests that the competitive environment
can be assessed by analyzing the import of,
and interactions among five major forces in
the competitive or industry environment.
37. 7-37
Comparing Strategic
Alternatives
• Goal is to identify feasible strategic
alternatives and select the best alternative.
• the results of the SWOT analysis can be used to
narrow down the feasible strategic alternatives.
• Evaluation and final choice of an appropriate
strategic alternative involves the integration of the
mission, objectives, internal analysis, and external
analysis.
• Once the corporate strategy has been identified,
additional sub-strategies must be selected to support
it.
• Strategic business unit (SBU)
• Distinct business that has its own set of competitors
and can be managed reasonably independently of
other businesses within the organization.
• In a small organization, the entire company may be a
SBU.
39. 7-39
Implementing Strategy
• Include determining and implementing the most
appropriate organizational structure, developing
short- range objectives, and establishing functional
strategies.
• Organizational Factors
• An organization’s current structure places restrictions on
strategy implementation.
• Strategy must fit with current organizational policies, or
conflicting policies must be modified.
• Organizational systems currently in place can affect how
the strategy might best be implemented.
• Functional Strategies
• Development of functional strategies generally requires
active participation of many levels of management.