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Strategic planning is an organization's process of defining its strategy or direction, ... Long Range Planning, 27, 5 (October 1994), pp. 85–97;
This involves crafting vision statements (long term), mission statements (medium term), overall corporate objectives (both financial and strategic), strategic business unit objectives (both financial and strategic), and tactical objectives. These objectives should, in the light of the situation analysis, suggest a strategic plan.
Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic ...
Long-range Planning Date: From the 1950s Key Thinkers: Herbert A. Simon Key Ideas: The managerial focus was to anticipate growth and manage operations in an increasingly complex business world. [11] Strategic Planning (also known as corporate planning) Date: From the 1960s Key Thinkers: Michael Porter
Mintzberg argued that strategic thinking cannot be systematized and is the critical part of strategy formation, as opposed to strategic planning exercises. In his view, strategic planning happens around the strategy formation or strategic thinking activity, by providing inputs for the strategist to consider and providing plans for controlling ...
It involves activities such as strategic planning and strategic thinking. [ 6 ] Henry Mintzberg from McGill University defined strategy as a pattern in a stream of decisions to contrast with a view of strategy as planning, [ 7 ] . while Max McKeown (2011) argues that "strategy is about shaping the future " and is the human attempt to get to ...
The part of the overall process which is radically different from most other forms of long-range planning is the central section, the actual production of the scenarios. Even this, though, is relatively simple, at its most basic level. As derived from the approach most commonly used by Shell, [29] it follows six steps: [30]
Leadership is about innovators and change agents; seeing the big picture, thinking strategically about how to attain goals, and working (with the help of others) to achieve the goals (Kouzes and Posner, 2009, p. 20). Strategic orientation is the ability to be innovative in connecting long-range visions and concepts to daily work.