Strategic Planning

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What is Strategic Planning? Meaning.

Strategic Planning consists of the process of systematically developing and implementing activities and plans to reach the goals, purpose and objectives of the organization within the strategic context (environment).

SP is a continuous process of making present entrepreneurial (risk-taking) decisions systematically and with the greatest knowledge of their futurity; systematically organizing the efforts needed to carry out these decisions. It may or may not also include measuring the results of these decisions against the expectations through organized systematic feedback.

SP involves the application of thought, analysis, imagination and judgment. It is a responsibility rather than a technique. It is the analytic thinking and commitment of resources to action. It deals with the futurity of present decisions.

Strategic Planning versus Strategy

SP is more or less a synonym for Strategy, but the term "planning" has a deliberate meaning attached to it, while "Strategy" can accommodate both the emergent, flexible, dynamic vision to strategy formation as well as the traditional deliberate, intended, military, planned form. In other words, SP is one of the Ten Schools of Thought (The Planning School) as described by Mintzberg. However, In everyday parlance, SP is considered and used as a synonym of strategy.

Types of Strategic Planning

There are quite a few strategic planning types, depending on their:

• LEVEL: Corporate, Division, Strategic Business Unit, Department.
• TIME HORIZON: Long-term, Medium-term, Short-term.
• LEVEL OF DETAIL: Strategic, Tactical, Operational.
• FUNCTIONAL AREA: Marketing, Sales, Purchasing, Production, Logistics, Transportation, HR, Finance, etc.
• SPECIAL TOPIC: Internet, Mobile.

Steps in a Strategic Planning Process

A strategic planning process can take many forms. For the classical steps see Armstrong's Five Strategic Planning Steps.

A strategy process can be more or less deliberate (planned) or emergent (flexible).

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Best Practices The top-rated topics about Strategic Planning. Here you will find the most valuable ideas and practical suggestions. Is Strategic Planning Passé? Is strategic planning in the traditional sense passé? It may very well be given the rapidly changing environment organiz... 38   68 comments S T R A T E G Y Acronym The word STRATEGY if you view it as an acronym is in itself is the answer. It can mean: S = status at present ... 23   5 comments Strategic Planning must be Dynamic No doubt strategic planning is dynamic. Strategic planning should monitor internal and external contexts on a regul... 20   19 comments Strategic Thinking versus Operational Thinking? What is the difference between strategic and operational thinking? Which one has the greater impact on the success of th... 15   8 comments Why do Most Strategic Plans Fail? According to what some people say, 8 of each 10 efforts fail in strategic planning. I think strategic planning is ... 13   12 comments Strategic Planning is about Elimination Strategy is about knowing what to sacrifice. It is through a process of elimination that we arrive at the right path. Of... 9   5 comments Congruence Model Summary A business must have a strategy, the strategy must necessarily have parts. A strategy has five elements, providing answe... 6   5 comments

Expert Tips Advanced insights about Strategic Planning. Here you will find professional advices by experts. Strategic Planning versus Strategic Thinking (Mintzberg) Strategic Planning, Strategic Thinking, Emergent Strategy, Deliberate Strategy According to Mintzberg (1994) many people wrongly consider Strategic Planning (SP) to be a synonym for Strategic Thinkin...

Information Sources Various sources of information regarding Strategic Planning. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops. Introduction to Strategic Planning and The ABCDE Model Strategic Planning, ABCDE Model, SWOT Analysis, Corporate Mission, Strategic Vision Good overview presentation that also describes a 5-step strategic planning model (ABCDE). Following the steps in this st... Top 5 Strategy Pitfalls Strategy Errors, Strategy Traps, Strategy Barriers, Strategic Planning, Strategy Process Strategy is complex and companies are making many mistakes while working on it. Stuart Cross identified 5 frequent strat... 7 Steps for Creating a Strategic Business Plan Strategic Planning, Strategic Management, Business Planning, Business Plan Presentation about strategic planning and business planning, including the following sections: 1. What is a business pl... Overview of a Strategic Planning Process Initial Understanding of a Strategic Planning Process Direct and easy-to-follow overview model and summary of a strategic planning process for a firm: 1. Mission Statement: ... Conducting a Strategy Review (Strategic Review). Types and Tips Strategy Review, Strategic Management, Strategy Process Erica Olsen explains how to run a strategy review, she considers to be the heartbeat of any strategic management process...

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