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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.
Here is the restructuring plan failed, but dominant members within the company and the environment still believe that a repositioning is possible. In this case, they need to restart at stage four and look for a new strategy. Should an outcome of the new strategy turns out to be good, a turnaround (7c) is called successful. This is achieved when ...
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.
The sum total of the activities and choices required for the execution of a strategic plan [1] Operationalisation of a clearly articulated strategic plan [2] All the processes and outcomes which accrue to a strategic decision once authorisation has been to go ahead and put the decision into practice [3]
The business needs analysis contributes tremendously to the re-engineering effort by helping the BPR team to prioritize and determine where it should focus its improvements efforts. [21] The business needs analysis also helps in relating the BPR project goals back to key business objectives and the overall strategic direction for the organization.
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 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.
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 .
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