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Strategic planning 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.
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 ...
SWOT has been described as a "tried-and-true" tool of strategic analysis, [3] but has also been criticized for limitations such as the static nature of the analysis, the influence of personal biases in identifying key factors, and the overemphasis on external factors, leading to reactive strategies. Consequently, alternative approaches to SWOT ...
Strategy and uncertainty intertwine between strategic planning and unknown events in a realistic framework where companies and organizations are bounded to develop and compete in a world dominated by complexity, ambiguity, and uncertainty in which unpredictable, unstoppable and, sometimes, meaningless circumstances may have a direct impact on the expected outcomes.
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 ...
Scenario planning is as much art as science, and prone to a variety of traps (both in process and content) as enumerated by Paul J. H. Schoemaker. [14] More recently scenario planning has been discussed as a tool to improve the strategic agility, by cognitively preparing not only multiple scenarios but also multiple consistent strategies. [10]
Mckeown argues that a strategic gap may be transformed into a strategic stretch. [ 2 ] Often unseen, the strategy gap is a threat to the future performance—and even survival—of an organisation and is guaranteed to impact upon the efficiency and effectiveness of senior executives and their management teams .
Strategic implementation is a very well thought out plan of implementation that is the opposite to incrementalism. Although the plan involved with the strategic implementation might work incrementally it has set objectives at set times with little to no intention of muddling through the process.