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Strategic planning [1] is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
Strategy planning systems are supposed to produce the best approaches to concretize long-term objectives. However, since strategy deals with the upcoming future, the strategic context of an organization will always be uncertain, therefore the first choice an organisation has to make is when to act; acting now or when the uncertainty has been ...
All strategic plans should be built upon a grounded, validated and accepted set of strategic assumptions. Any strategic plan or decision is only as good as the strategic assumptions upon which it is based. Strategic assumptions surface and are usually identified when scenario planning is undertaken during a strategic planning process. The ...
Strategic planning is a means of administering the formulation and implementation of strategy. 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 ...
The rational planning model is used in planning and designing neighborhoods, cities, and regions. It has been central in the development of modern urban planning and transportation planning . The model has many limitations, particularly the lack of guidance on involving stakeholders and the community affected by planning, and other models of ...
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Business plans can help decision-makers see how specific projects relate to the organization's strategic plan.
Assumption-based planning in project management is a post-planning method that helps companies to deal with uncertainty. It is used to identify the most important assumptions in a company's business plans , to test these assumptions, and to accommodate unexpected outcomes.
During the 1990s, the resource-based view (also known as the resource-advantage theory) of the firm became the dominant paradigm in strategic planning.RBV can be seen as a reaction against the positioning school and its somewhat prescriptive approach which focused managerial attention on external considerations, notably industry structure.