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Strategic planning is an organization's process of defining its strategy or direction, ... Long Range Planning, 27, 5 (October 1994), pp. 85–97;
The part of the overall process which is radically different from most other forms of long-range planning is the central section, the actual production of the scenarios. Even this, though, is relatively simple, at its most basic level. As derived from the approach most commonly used by Shell, [29] it follows six steps: [30]
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 ...
It includes such activities as strategic planning and strategic thinking. Implementation refers to the action plans taken to achieve the goals established by the guiding policy. [6] [35] Bruce Henderson wrote in 1981 that: "Strategy depends upon the ability to foresee future consequences of present initiatives." He wrote that the basic ...
Mintzberg argued that strategic thinking cannot be systematized and is the critical part of strategy formation, as opposed to strategic planning exercises. In his view, strategic planning happens around the strategy formation or strategic thinking activity, by providing inputs for the strategist to consider and providing plans for controlling ...
Long-range Planning Date: From the 1950s Key Thinkers: Herbert A. Simon Key Ideas: The managerial focus was to anticipate growth and manage operations in an increasingly complex business world. [11] Strategic Planning (also known as corporate planning) Date: From the 1960s Key Thinkers: Michael Porter
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.
Evaluating or crafting an organizational strategy requires analysis of the relationship between mission, value and resources. Strategy allows managers to focus on an organization's long-term plan and ensure that mission objectives are met. Organizational strategy explores the relationship between unit and the environment.