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Strategic Planning

Unit 4: Planning and Controlling. Strategic Planning. Strategy. Strategy  is a planned course of action undertaken to achieve the goals and objectives of an organization.  A  Strategic Plan  is a coordinated and systematic direction for an organization.  Essential to the success of a business.

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Strategic Planning

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  1. Unit 4: Planning and Controlling Strategic Planning

  2. Strategy • Strategy is a planned course of action undertaken to achieve the goals and objectives of an organization.  • A Strategic Plan is a coordinated and systematic direction for an organization.  • Essential to the success of a business

  3. Strategic Planning Process • (1) Identify Mission and Objectives • (2) Analyse Internal and External Environment • (3) Formulate Strategy • (4) Implement Strategy • (5) Evaluate Results and Control

  4. Management Tools for Analysis • SWOT Analysis • Strength, Weakness, Opportunities, Threats

  5. The Five Competitive Forces

  6. Levels of Strategic Planning • Many of today’s large corporations are conglomerates composed of several businesses or several product lines. • Large corporations have three levels of strategy: corporate, business, and functional.

  7. Types of Strategic Plans • Growth, Retrenchment, and E-business strategies • Growth Strategy • Expanding current operations • Diversification – In other industries

  8. Types of Strategic Plans • Retrenchment Strategy • Used in crisis • Correct weaknesses by changing practices • Restructuring and downsizing • E-business Strategy • Involves Internet technology to buy/sell

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