Search results
Results from the WOW.Com Content Network
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.
Deciding the specific course of the plan; In organizations, planning can become a management process, concerned with defining goals for a future direction and determining on the missions and resources to achieve those targets. To meet the goals, managers may develop plans such as a business plan or a marketing plan. Planning always has a purpose.
A plan is typically any diagram or list of steps with details of timing and resources, used to achieve an objective to do something. It is commonly understood as a temporal set of intended actions through which one expects to achieve a goal. For spatial or planar topologic or topographic sets see map. Plans can be formal or informal:
Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans. [7] Operational plans describe the goals of an internal organization, working group or department. [8] Project plans, sometimes known as project frameworks, describe the goals of a particular project.
A goal or objective is an idea of the future or desired result that a person or a group of people envision, plan, and commit to achieve. [1] People endeavour to reach goals within a finite time by setting deadlines.
This plan allocates future income to various types of expenses, such as rent or utilities, and also reserves some income for short-term and long-term savings. A financial plan is sometimes referred to as an investment plan, but in personal finance , a financial plan can focus on other specific areas such as risk management, estates, college, or ...
While different in definition, all of these constructs are thought to tap into and impact how people think and plan for the future. Despite the many different ways that future orientation is investigated and measured, there is evidence that a hopeful and purposeful sense of the future is associated with positive outcomes. [4] [5] [6]
Strategy is a high level plan to achieve one or more goals under conditions of uncertainty. [3] Strategic foresight happens when any planner uses scanned inputs, forecasts, alternative futures exploration, analysis and feedback to produce or alter plans and actions of the organization. [4] [5] Scenario planning plays a prominent role in ...