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).

Forum New Topic Forum about Strategic Planning. 🔥 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 (...) 12   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 com (...) 9   Objectives of Organisation Any long term planning should clearly relate to the organisation's stated (internal) objectives and values. Changes of t (...) 6   1 comments Why SP is Essential Unused planning is a wast of time. However, I have found SP to be essential and vital to the success of (...) 6   2 comments Classical SP Process Classical SP was a deliberate process in which top executives periodically would formulate the firm's st (...) 4   How Leaders See Strategy Reviews Leaders often want to review their strategy annually by looking at vision, mission, values and identify projects to impl (...) 4   4 comments New SP Models Please if one of you can mention and summarize any new model(s) about SP, please reply. Or maybe yo (...) 4   1 comments Markets > Vision > Strategy + Execution First, vision drives strategy and customers and markets drives vision. Know the customer well. Also, "vision" is "functi (...) 3   5 comments Should Top Managers be Strategists? The involvement of top managers in the SP process is often too limited taking into account the increasin (...) 3   2 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 (...) 3   The OGSM Framework What is OGSM? The OGSM Framework (Objectives - Goals - Strategies - Measures) is a strategic tool used for goals an (...) 3   1 comments 3 Main Activities of SP Simply put, SP determines where an organization is going over the next year or more and how it's going t (...) 2   3 comments SP 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 ever (...) 2   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, SM (...) 2   4 comments SP and Power Someone said a year ago that 8 of each 10 efforts fail in SP. That´s true. Despite of new models and mor (...) 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 (...) 2   1 comments From Traditional to Innovative SP It is high time we shift from the traditional strategic management to innovative strategic management. We need to rethin (...) 2   5 comments SP 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 (...) 2   4 comments Shorten the Time Window of Strategic Plans Setting goals is extremely important within the strategic framework. However, understanding that the business environmen (...) 1   1 comments How to Help a Team Carry Out SP How can we help a team carry out a SP exercise? What are tools and tips that can be employed? (...) 1   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 me (...) 0   1 comments Goals - Part of the Plan? In practice in the SP process I include not only "REACH the goals, purpose and objectives", but also SET (...) -1   3 comments Start a new forum topic about Strategic Planning. More info. Share your opinion, knowledge and experience or ask a question (sign up for free first)

Best Practices Sign up The top-rated topics about Strategic Planning. Here you will find the most valuable ideas and practical suggestions. Is SP Passé? Is SP 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 SP must be Dynamic No doubt SP 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 Factors in Strategic Decision Making What are the factors affecting strategic decision making? (...) 13   4 comments Why do Most Strategic Plans Fail? According to what some people say, 8 of each 10 efforts fail in SP. I think SP is (...) 13   12 comments SP 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 Sign up Advanced insights about Strategic Planning. Here you will find professional advices by experts. SP versus Strategic Thinking (Mintzberg) SP, Strategic Thinking, Emergent Strategy, Deliberate Strategy According to Mintzberg (1994) many people wrongly consider SP (SP) to be a synonym for Strategic Thinkin (...)

Information Sources Sign up 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 SP and The ABCDE Model SP, ABCDE Model, SWOT Analysis, Corporate Mission, Strategic Vision Good overview presentation that also describes a 5-step SP model (ABCDE). Following the steps in this st (...) Top 5 Strategy Pitfalls Strategy Errors, Strategy Traps, Strategy Barriers, SP, 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 SP, Strategic Management, Business Planning, Business Plan Presentation about SP and business planning, including the following sections: 1. What is a business pl (...) Overview of a SP Process Initial Understanding of a SP Process Direct and easy-to-follow overview model and summary of a SP 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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