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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.
Although strategic control is a general management topic rather than a prescriptive tool, its reliance on feedback on organisational performance has resulted in a long association with performance management tools such as the balanced scorecard and its derivatives such as the Performance Prism, and with related strategy implementation / execution frameworks such as the ACME framework, [15] the ...
Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic planning happens around the strategic thinking or strategy making activity. [15] Strategic management is often described as involving two major processes: formulation and implementation of strategy.
The direction for organizational control comes from the goals and strategic plans of the organization. General plans are translated into specific performance measures such as share of the market, earnings, return on investment, and budgets. The process of organizational control is to review and evaluate the performance of the system against ...
For example, a best practice for strategy implementation monitoring and control is to meet regularly in structured and time-limited sessions (Allio, 2005). As mentioned previously, a slow implementation with small steps usually has a positive influence on engaging the management resulting in a better implementation performance.
The term strategic direction may refer to: strategic management; strategic direction in the Soviet Army ...
Strategic planning's role is "to realise and to support strategies developed through the strategic thinking process and to integrate these back into the business". [14] Henry Mintzberg wrote in 1994 that strategic thinking is more about synthesis (i.e., "connecting the dots") than analysis (i.e., "finding the dots"). It is about "capturing what ...
Articles relating to strategic management, the formulation and implementation of the major goals and initiatives taken by an organization's top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.