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Strategic Planning Process

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For a business to understand their goals and provide them a direction in which the organization wants to go, they must use methods to guide them. Analyzing their objectives, markets they operate in, and their strengths/weaknesses, helps the organization respond to changes that affect their business, allowing them to react or prepare to those changes. Leadership within an organization has a responsibility to lead the company to success by having a clear understanding of the business goals in order to achieve their competitive advantage. Strategic management is a method used by top management to analyze the environment in which an organization operates prior to formulating a strategy, as well as a plan for implementation and control of a strategy (Parnell, 2014).
The strategic planning process can be an effective way for an organization to build their competitive edge within their markets. But some will argue that strategic planning is fruitless because of the length of time it takes to implement the plan, the time it take to get approval on the strategy from leadership, or because of the budget costs associated with the …show more content…

The economy is constantly evolving and businesses must understand what their strengths or weaknesses are compared to their markets. They must plan for their future and create a strategy on how they will use their business goals, strengths/weaknesses, and environment to gain a competitive edge within their fields. Without a strategic plan, an organization becomes reactive instead of proactive and can cause potential issues in the future of their business. These days, markets are so competitive that unless your strategy enables you to deliver some unique value to customers, you will ultimately fail so you must have a good strategy to continuously improve and reinvent your business to stay competitive (Tobak,

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Rekashua Leonard STR 581: Strategic Planning & Implementation Michael Wells April 18, 2024. Strategic Plan Research: Starbucks is one of the world’s largest American coffeehouse chains. Their comprehensive strategic plan covers various aspects of its operations, showcasing their strengths, but there is always space for improvement in some areas. Clear Vision & Strategy: Starbuck’s strategic plan clearly outlines its vision and the strategies required to achieve it. The company’s focus is on establishing themselves as the “premier purveyor of the finest coffee in the world, while maintaining our uncompromising principles while we grow.”

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Planning a head A business plan that worked for you 10 years ago might not be effective today. The market conditions keep changing after some time, so you need to set aside some time to come back to review and update your business plan. As your business expands, your strategy has to change to fulfil the new conditions in the market. For instance, your goal might change from winning new customers to building a sustainable and profitable relationship which will maximize on the growth with the existing shoppers.

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451 Words | 2 Pages

Strategic planning is matching the strengths of an organization to its available opportunities (textbook). To effectively plan strategically the organization must first analyze and collect information about the industry, in which the organization operates. Strategic planning focuses on the interaction with environmental forces, which include competitors, government, and suppliers (textbook). One organization may be able to get more from a supplier than a competitor based on the established relationship. The ability to implement strategic planning is critical for the survival of any organization.

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1302 Words | 6 Pages

No matter the organization, they all have a few things in common. One similarity is each and every one of them exists to provide goods and/or services. Another commonality shared by all organizations is the need to ensure current and future success. To accomplish this task, an organization must plan, adapt, and review strategic plans for growth. Strategic planning requires all levels of an organization, leaders, followers, and stakeholders, to think about where the organization is today and how they can positively influence the organization to move forward and prepare for adversity.

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According to DuBrin (2016 p. 422), "strategic leaders rely heavily on intuition as to what direction the organization should take. " It's important than the leader applies his/her devised vision to see if the vision will work in the long term while, at the same time, addressing pressing concerns. I believe that although strategy problems can require more time in solving, the leader should not just forget or dismiss operational progress since, over time, these can

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457 Words | 2 Pages

Is Strategic Planning Still Relevant? According to me, healthcare is a booming and ever-growing Business (that’s what it has become now) and just like any other business to be successful and progressive; Strategy is a must! So, is Strategic Planning Still Relevant? Yes, it is.

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Strategic Planning: Communication Plan In the previous paper, the action plan on how to implement the strategic goal of BayCare Health System to have an increased satisfaction rate for employees by 25% at the end of 2018 through strategic management and tactics, managerial decision-making, and leadership strategies were identified. In this paper, the communication plan on how to disseminate the action plan to the stakeholder will be revealed. It will also include the communication strategies utilized, the use of formal and informal communication channels, and the leadership skills that will be utilized during this process. Communication Strategies Communication is important in ensuring that the action plan has been implemented as it helps

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Goals Outlined based on the Strategic Plan 1. Demonstrate continuous improvement through the use of data. • Analyze state and local assessment (ie. NWEA MAP, Explore, Plan) to align and articulate local curricula with State guidelines. • Provide opportunities for teachers and others to use relevant research and best practices to inform their practice.

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In developing stellar policy the Board can eliminate confusion and close the gap for interpretation and opposition. Although de facto policy is often rooted in school culture, a clearly written public policy can alleviate the need to justify exceptions (Kowalski, 2013). The purpose of a strategic plan as defined in the York Suburban Strategic Plan Policy reads, “The Board recognizes the importance of comprehensive planning in developing and guiding the District's goals, and the educational programs and operation of the schools. Participation by educational stakeholders is a critical element of such planning.” Further purpose (http://blog.envisio.com/7-reasons-schools-need-strategic-planning) is served in communicating and articulating the

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Strategic Planning Another area that was quite apparent during my interview with Tina was her use of strategic planning in both a managerial aspect, but also in a client based aspect. When asked about one of the most important things that she has learned in her position, Tina said, “Everything is subject to change” (personal communication, April 9, 2018). As Tina continued to describe her use of strategic planning, I was able to connect it with two important elements in the general definition of strategy, plan and perspective (Tschirhart & Bielefeld, 2012). Tina talked about the importance of having a course of action that can be discussed with the clients when they come to her for help. Tina expressed the importance that “There is not a textbook

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1852 Words | 8 Pages

Essentially a strategic plan is an extensive inspection at where the organization is, where it wants to be, and how it can get there. The

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986 Words | 4 Pages

INTRODUCTION: The summation of activities that a business expects to carry out in order to attain longstanding objectives can be defined as organizational strategy. Combined, these activities forms a business’s strategic plan. Strategic plans are developed by various level of management.

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He emphasized that businesses should strive to achieve one of the generic strategies in order to achieve a competitive advantage but Henry Mintzberg disagreed with this idea and in 1994, came up with the concept of Emergent Strategy. He argued that the organisations with constantly changing business environments need to be flexible in order to benefit from various opportunities. In his article “The fall and rise of strategic planning” Mintzberg argues that strategic planning often spoils strategic thinking, causing managers to confuse real vision with the manipulation of numbers (Mintzberg, 1994). He adds “Strategic planning, as it has been practiced, has really been strategic programming, the articulation and elaboration of strategies, or visions, that already exists”.

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3.1 Personal context Strategic planning is an important planning process that is of great help to the organization. Strategic planning involves developing a great future or vision for an organization then turning the visions to

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1486 Words | 6 Pages

It is the planning before the action. In includes many activities like making decisions, making strategy for organization etc. At this time strategic planning is an important part of strategic management. Strategy describes how the goal achieves by using the available resources or what kind of resources they need to achieve the goals. This strategy is used when the organization wants to set the goals and wants to make the planning to achieve these goals by available resources.

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