Strategic Planning

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Summary

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).


Special Interest Group

Strategic Planning Special Interest Group.



Special Interest Group (1414 members)

Discuss

Forum about Strategic Planning.


 

Strategic Planning must be Dynamic
No doubt strategic planning is dynamic.
Strategic planning should monitor internal and external contexts on a regular basis and continue to change. A robust mechanism must exist in the organizati...
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25 comments
Factors in Strategic Decision Making
What are the factors affecting strategic decision making?...
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5 comments
🔥 NEW Wicked Problems and Strategy Approaches to Deal with Them
Major challenges / problems, which tend to be of strategic nature, are usually considered as a "wicked" type of problems. According to Hoerst Rittel and Melvin Webber, these wicked problems lack clari...
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12 comments
Strategy Means Directional Initiatives to Protect And/or Improve your Current Position
Today's leaders must be able to impose rapid changes within their organization in order to compete against worldwide competition, manoeuvre within the politic arenas and to face the current financial ...
9
 
Objectives of Organisation
Any long term planning should clearly relate to the organisation's stated (internal) objectives and values. Changes of the external environment, that is political, economical, social, technology, envi...
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1 comments
Why Strategic Planning is Essential
Unused planning is a wast of time. However, I have found strategic planning to be essential and vital to the success of any endeavor or undertaking. While it may be possible to reach a desired destina...
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2 comments
How Leaders See Strategy Reviews
Leaders often want to review their strategy annually by looking at vision, mission, values and identify projects to implement their strategy, or building scorecards and strategic maps (theoretical lev...
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4 comments
Classical Strategic Planning Process
Classical strategic planning was a deliberate process in which top executives periodically would formulate the firm's strategy, then communicate it down the organization for implementation. The follow...
4
 
The OGSM Framework
What is OGSM?
The OGSM Framework (Objectives - Goals - Strategies - Measures) is a strategic tool used for goals and strategy setting.
The term OGSM was first coined in the 1950s in Japan. S...
4
 
2 comments
New Strategic Planning Models
Please if one of you can mention and summarize any new model(s) about strategic planning, please reply.
Or maybe you can recommend a good book that reviews new models of strategic planning. Thank...
4
 
1 comments
Should Top Managers be Strategists?
The involvement of top managers in the strategic planning process is often too limited taking into account the increasing complexity of their multiple tasks and their limited time (Hunsicker, J.Q., 19...
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2 comments
Markets > Vision > Strategy + Execution
First, vision drives strategy and customers and markets drives vision. Know the customer well. Also, "vision" is "functional" - about the entire company or any part of it like it or sales etc.
Se...
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5 comments
3 Main Activities of Strategic Planning
Simply put, strategic planning determines where an organization is going over the next year or more and how it's going to get there. Typically, the process is organization-wide, or focused on a major ...
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3 comments
Continuous Planning and Control
Strategic planning is seen by many as a process that is performed every now and then. But beyond the formal process, the CEO needs to be thinking strategically all the time.
Line and functional ...
3
 
Strategic Plans Must be Used and Executed!
I know an organization were top management hired a consultant to design strategic plans for all departments. As such, SMART (specific, measurable, achievable, realistic, time bound) plans were drafted...
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4 comments
Strategic Planning and Power
Someone said a year ago that 8 of each 10 efforts fail in strategic planning. That´s true. Despite of new models and more sophisticated software, each time it´s more clear that the strategos have a cl...
2
 
Brand Strategy for a Start-up
How critical it is to include a Brand in the Strategy for a start-up Company?
How can this be carried out while the founders are focusing on grabbing a first business deal? What steps are to be c...
2
 
1 comments
Strategic Planning in an Opportunity for Involvement
SP is a great opportunity for the organization to live the strategy, using such exercises of what strategy means to everybody, and then write all the thoughts on the white board, trying to consolidate...
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From Traditional to Innovative Strategic Planning
It is high time we shift from the traditional strategic management to innovative strategic management. We need to rethink our thinking on strategies. The 21st century going forward requires innovative...
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5 comments
Strategic Planning Models in Airline Industry
We know every airline has a strategic plan.
Why do some achieve their goals but some don't? What are the causes of their failure?
Is there any suitable strategic planning model for the air...
2
 
4 comments
Shorten the Time Window of Strategic Plans
Setting goals is extremely important within the strategic framework. However, understanding that the business environment changes more and faster than before, it is advisable to formulate short term a...
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1 comments
How to Help a Team Carry Out Strategic Planning
How can we help a team carry out a strategic planning exercise? What are tools and tips that can be employed?...
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2 comments
Overseeing Strategy and Strategic Oversight
Companies find themselves in a fix in times of transformational change, when incremental changes in strategy fails to meet incremental changes in the environment. The only way to mitigate this problem...
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1 comments
Goals - Part of the Plan?
In practice in the strategic planning process I include not only "REACH the goals, purpose and objectives", but also SETTING goals, building a tree of objectives, identification of their priorities....
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3 comments

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 organizations face especially in technology including social media and the collapsing f...
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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
T = think
R = relook
A = act
T = target setting
E = evaluate...
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5 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 the enterprise and why?...
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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 not just a simple model that we should apply in any case. We should consider tha...
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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. Often, we confuse tactics for strategy.
Strategy, very briefly, requires the ...
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5 comments

Congruence Model Summary
A business must have a strategy, the strategy must necessarily have parts. A strategy has five elements, providing answers to five questions:
- ARENAS: where will we be active? The most fundament...
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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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Compare with: Five Forces  |  Core Competence  |  Deliberate Strategy  |  Emergent Strategy  |  Hoshin Kanri - Policy Deployment  |  Strategic Analysis

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