Strategic planning is the overall planning that facilitates the good management of a process by taking employees outside the everyday activities of their organization and provides them actual representation of what they are doing and where they are going. A Strategic planning process includes mission statement, goals for accomplishing mission, approaches for implementing goals, action plans and monitoring and updating of plan. Various models/techniques such as iconic, analog and quantitative are used for different phases of decision-making (Intelligence, design, choice, implementation and monitoring). In addition, for decision making in strategic planning process various types of information and decision support systems are used. Some of them are Decision Support Systems (DSS), Executive Information Systems (EIS), and Business Intelligence Systems (BIS).
Keywords: Strategic Planning, Decision Support Systems (DSS), Executive Information Systems (EIS), Business Intelligence Systems (BIS), Decision Support Tools (DST), Executives Information Systems (EIS), Business Intelligence Systems (BIS), OLAP, Group support Systems (GSS), Management Information Systems (MIS), Expert Systems (ES), Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Supply Chain Management (SCM), Knowledge Management Systems (KMS) and CASE tools.
Table of Contents
III.Strategic Planning Process
IV.Techniques/Models Used for Decision Making
V.Decision Making Phases
VI.Decision Support Systems
VII.Executive Information Systems
VIII.Business Intelligence (Systems)
Decision-making at various levels and stages of organization is an important task. For this, in present days various tools and techniques are available to employees of the organization that helps in good planning and management and accomplish organization mission, goals and objectives. These tools and techniques help in knowing market/future trends, customer behaviour and forecasting, therefore organization can come with innovative product and services so as to gain competitive advantages from other organizations. In this paper, initially strategic planning and strategic planning process will be outlined. In the next section, various tools and techniques and different phases of decision making will be discussed that helps in decision making in strategic planning process. After which, Decision Support Systems that facilitates in decision-making will be discussed in details along with other systems/tools that are used for DSS. In the next section, Executives Information Systems (EIS), which is a computer based system that serves the information needs of top executives in organization for decision making will be discussed. In the last section, Business Intelligence Systems will be discussed, which is an umbrella/business management term that combines architectures, tools, databases, applications, and methodologies, which are used together .
A strategy is said as an overall approach and plan for accomplishing a specific goal. However, strategic planning is the overall planning that facilitates the good management of a process. It takes employees outside the everyday activities of their organization and provides them actual representation of what they are doing and where they are going. Moreover, Strategic planning gives clarity about what actually to achieve and how to go about achieving it, rather than a plan of action for everyday operations (Shapiro n.d.). Strategic planning focuses on entire organization. According to McNamara (2003), “Strategic planning determines where an organization is...