1 / 9

Strategic Planning

Strategic Planning. In a Competitive Marketplace. Strategic Planning Process. Necessary for large corporations to survive & prosper Budget/Forecast oriented planning is no longer enough Strategic Planning Defines objectives Assesses internal & external situation

makya
Download Presentation

Strategic Planning

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Strategic Planning In a Competitive Marketplace

  2. Strategic Planning Process • Necessary for large corporations to survive & prosper • Budget/Forecast oriented planning is no longer enough • Strategic Planning • Defines objectives • Assesses internal & external situation • Strategies formulated & implemented based on actual situation • Evaluation leads to adjustments to stay on track

  3. The Planning Process Mission & Objectives Environmental Scanning Strategy Formulation Strategy Implementation Evaluation & Control

  4. The Sigmoid Curve Typical Life Cycle The Secret to Constant Growth: (Start a New Life Cycle)

  5. The Mission & Objectives • Mission Statement - Describes the Company’s Business Vision • Unchanging values • Purpose of company • Visionary goals that guide the pursuit of future opportunities • Objectives – guided by company’s vision • Measurable financial & strategic objectives • Ex: Sales targets, market share, reputation

  6. Environmental Scan • Includes the following: • SWOT Analysis • Strengths/Weaknesses • Industry Analysis • PESTAnalysis (Political, Economic, Social, Technological) • Competitive Analysis • Rivalry • Threat of Substitutes • Buyer Power • Supplier Power • Barriers to Entry/Threats to Entry

  7. Strategy Formulation • Given environmental conditions, • Match strengths to opportunities identified • Address weakness and external threats • Competitive Advantage - How will you gain an advantage over your competition? • Cost Leadership Strategy – low cost producer • Differentiation Strategies • Focus Strategies - segmenting

  8. Strategy Implementation • Implementation - programs, budgets, and procedures to be used • Implementation involves: • Organization of company resources • Motivation of staff to achieve objectives • Usually different people than those who formulate the strategies • How strategies are implemented can have a significant impact on success • Executives must communicate strategies effectively & reasons behind them

  9. Evaluation & Control • Implementation of strategies must be monitored and adjusted if needed • Evaluation & Control Process • Define parameters to be measured • Define target values for those parameters • Perform measurements • Compare measured results to the pre-defined standard • Make necessary changes

More Related