Strategic Planning Process

Good Essays
Strategic Planning – Week 1
Keyla (Bolin, Niu)
Keiser University
MKT531
Marketing Management
Dr. Jeff Ritter
03/09/13

Strategic Planning Process Strategic planning is refers to the development of the organization’s long- term goals and put forward into practice (Peter, 2013). Strategic planning system is the strategy, objectives, environmental factors, it is a process about the internal conditions and various elements integration and used to guide the rational allocation of limited resources enterprise for a certain period of time, in order to reach the goal of the management activities Some big enterprise have particular plan for next fifth years. Strategic planning can be separate to three steps, the first step is to determine the objective goals, during the enterprise development, it should be meet all kinds of challenges that successful achieve the goal. The second step is to formulate the planning, after manger determine the goal, manager should consider what measures can be successfully to process the project, this is what I understannd about strategic planning. According to the requirements of the strategic planning, the characteristic about strategic planning can be summarizing by these points (Aldehayyat, & Twaissi, 2011): 1. Strategic planning system set broke through the traditional thinking mode which is not planning at present project, but the goals are for enterprise future direction of planning and financial. It pays much more attention to how to adjust business environment and innovation. 2. The settings of strategic planning are often led by very few top management leader directly control. It doesn’t like short-term business plan by a wide range of many people to participate in. 3. The strategic planning system is focus on the changing the external environment and innovation about enterprise, it involved the possibility of market opportunity which is hard to control and requires the enterprise have random



References: Robinson, R. B. & Pearce, j. A. (1988). Planned Patterns of Strategic Behavior and Their Relationship to Busi- ness-Unit Performance. Strategic Management Journal, 9, 43-60. Peter, J., & Donnelly, J. (2013). Marketing Management Knowledge and Skills. New York, NY: McGraw-Hill. Aldehayyat, j.S. & Twaissi, N. (2011). Strategic Planning and Corporate Performance Relationship in Small Business Firms: Evidence from a Middle East Country Context. International Journal of Business and Management, 6 (8), 255-263. Kraus, S., Harms, R., & Schwarz, E.j. (2006). Strategic Planning in Smaller Enterprises: New Empirical Findings. Management Research News, 29 (6), 334-344.

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