Random Notes

Formal Planning situational analysis
A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration. studies past events, examines current conditions, and attempts to forecast future trends internal forces at work in the organization consistent with the open-systems approach
Levels of Planning types of managers: top-level (strategic managers), middle-level (tactical managers), and frontline (operational managers) managers at all three levels use it
Strategic planning involves making decisions about the organization’s long-term goals and strategies strong external orientation and cover major portions of the organization Senior executives are responsible senior executives and specialized planning units developed goals and plans for the entire organization

Strategic goals are major targets or end results that relate to the long-term survival, value, and growth of the organization
Strategic managers—top-level managers— usually establish goals that reflect both effectiveness and efficiency include growth, increasing market share, improving profitability, boosting return on investment, fostering both quantity and quality of outputs, increasing productivity, improving customer service, and contributing to society.

ORG Structure
Strategy – primary determinant of what products and services an org will offer and what markets it will serve. Strategy formulation develops goals and plans to ensure the org can adapt and thrive

Formal strategy process
Org focus – measures comp advantage, provides indicators of key capabilities to unify the corp. strategy gives focus by providing goal that everyone works toward.
Managerial criteria – decision making for new growth and getting rid of products and markets. Guidance on scope of products and markets. Mangers can align their decision with strategic vision.

Strategic planning
Focuses on future – what