Strategies in Planning

Topics: Strategic management, Strategic planning, Strategy Pages: 5 (1057 words) Published: June 10, 2013
Sharyn A. Quelitano
Topic: Strategies in Planning

I. Introduction:
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action. Generally, strategic planning deals with at least one of three key questions: "What do we do?", "For whom do we do it?", "How do we excel?"

In many organizations, this is viewed as a process for determining where an organization is going over the next year or—more typically—3 to 5 years (long term), although some extend their vision to 20 years.

II. Objectives:

1. Give the key components of strategies in planning.
2. What are the processes in strategic planning?
3. Give the approaches to strategic planning.
4. Give the techniques in Business Analysis Techniques.
5. Enumerate the factors that asses the external situation in strategic planning. III. Definition of Terms:
·Strategy- is a plan[->0] of action designed to achieve a vision. Strategy is all about gaining (or being prepared to gain) a position of advantage over adversaries or best exploiting emerging possibilities. ·Hierarchy- is an arrangement of items (objects, names, values, categories, etc.) in which the items are represented as being "above," "below," or "at the same level as" one another. ·Big Hairy Audacious Goals- is a strategic business statement which is created to focus an organization on a single medium-long term organization-wide goal which is audacious, likely to be externally questionable, but not internally regarded as impossible. ·Stakeholder Analysis- is the process of identifying the individuals or groups that are likely to affect or be affected by a proposed action, and sorting them according to their impact on the action and the impact the action will have on them. ·Strategic scope- is a demand-side dimension and looks at the size and composition of the market you intend to target[->1]. · Strategic strength- is a supply-side dimension and looks at the strength or core competency[->2] of the firm. In particular he identified two competencies that he felt were most important: product differentiation[->3] and product cost (efficiency[->4]).

IV. Summary:
1.Give the key components of strategies in planning.

2. What are the processes in strategic planning
2.1Mission and Objectives
2.2Environmental Objectives
2.3Strategy Formulation
2.4Strategy Implementation
2.5Evaluation and Control

3.Give the approaches to strategic planning.

4. Give the techniques in the Business Analysis Techniques. 4.1SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) 4.2PEST analysis (Political, Economic, Social, and Technological) 4.3STEER analysis (Socio-cultural, Technological, Economic, Ecological and Regulatory factors) 4.4EPISTEL analysis (Environment, Political, Informatics, Social. Technological, Economic and Leagal) 4.5ATM approches (Antecedent Conditions, Target Strategies, Measure Progress and Impact)

5. Enumerate the factor that asses the external situation in strategic planning. 5.1 Marketers (customers)
5.2 Competition
5.3 Technology
5.4 Supplier markets
5.5 The Economy
5.6 The Regulatory Environment

V. Assessments:

Strategic planning is a very important business activity. It is also important in the public sector areas such as education. It is practiced widely informally and formally. Strategic...
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