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STRATEGIC PLANNING

INTRODUCTION
Strategy is a unified, comprehensive and integrated plan designed to ensure that the basic
objectives of the enterprise are achieved.
-Glueck and Jauch

A strategy is a comprehensive plan of action that sets a critical direction and guides the
allocation of resources to achieve long term organisational objectives.

STRATEGIC PLANNING

Strategic planning means to analyse the current and expected future situation, determine the
direction of the firm, and develop means(resources) for achieving the mission.
-Koontz & Weihrich
Strategic planning is a process undertaken by an organization to develop strategies for
achievement of its overall long-term organizational goals. The purpose of strategic planning is to
help organisations to achieve competitive advantage.
Strategic planning is a tool for organizing the present on the basis of the projections of
the desired future. That is, a strategic plan is a road map to lead an organization from where it is
now to where it would like to be in five or ten years. It is necessary to have a strategic plan for
your organization. In order to develop a comprehensive plan for your organization which would
include both long- range and strategic elements, we suggest the methods and mechanisms
outlined in this manual. The plan must be: simple, written, clear, based on the real current
situation, and have enough time allowed to give it a time to settle. It should not be rushed.
Rushing the plan will cause problems.
Strategic Planning seeks the answer for four basic questions:
Q. Where are we?

A. Stuaton analyss

Q. Where would we want to be?

A. Vson,msson, goals

Q. How would we reach ?

A. Strateges & actvtes

Q. How would we follow and evaluate our success ?

A. Performance evaluaton

Strategic planning is done for internal as well as external environment of the organisation.
INTERNAL ENVIRONMENT:

Philosophical environment: consisting of mission, values, and long term goals of


organisation.

Managerial environment: consisting of managerial hierarchy, quality of managerial


talents etc.

Structural environment: consisting of rules, policies and procedure of organisation,


communication network etc.

Production environment: consisting of availability of resources, techniques of production


etc.

Financial planning: consisting of working capital management, capital budgeting etc.

Marketing environment: consisting of advertisement and sales promotion techniques,


marketing research procedures etc.

Personnel environment: consisting of type and nature of manpower planning, quantity


and quality of manpower, system of training, promotion etc.

Human relation environment: consisting of industrial relations, public relations etc.

EXTERNAL ENVIRONMENT

Socio-cultural factors

Competitive factors

Political factors

Technological factors

Legal factors

FEATURES OF STRATEGIC PLANNING

It is the function of top level management.


It is based on long-term future premises.
It is a broad or comprehensive programme concerned with the entire organisation.
It determines companys survival and growth.
It is prepared on the basis of resource ability of the organisation.

STRATEGIC PLANNING PROCESS

STEP I
Analysis of the current state
STEP II
Defining the future state.
STEP III
Create strategic plans to accomplish purpose and objectives.
STEP IV
Implement the strategic plans.
STEP V
Evaluate results and renew the strategic planning process as necessary.

STEP I- Analysis of current state

Identification of current objectives and strategies.

Environment analysis.

Resource analysis.

Step II- Defining the future state

Defining vision, mission, goals.

Determination of extent of required strategic change.

Step III Create strategic plans to accomplish purpose and objectives.

Identification of strategic alternatives.

Evaluation of strategic alternatives.

Selection of strategic alternatives.

Step IV Implement the strategic plans.

Putting strategy into operations.

Formulating operating plans.

Implementation of plans.

Monitoring and periodical review of strategy.

STEP V Evaluate results and renew the strategic planning process as necessary.

LEVELS OF STRATEGIES

Corporate strategy sets long term direction for the total enterprise. The question, What
business are we in? concerns corporate-level strategy. Corporate-level strategy pertains to
the organization as a whole and the combination of business units and product lines that
make up the corporate entity. Strategic actions at this level usually relate to the acquisition
of new businesses; additions or divestments of business units, plants, or product lines; and
joint ventures with other corporations in new areas.

Business strategy identifies how a division or strategic business unit will compete in its
product or service domain. The question, How do we compete? concerns business-level

strategy. Business-level strategy pertains to each business unit or product line. It focuses on
how the business unit competes within its industry for customers. Strategic decisions at the
business level concern amount of advertising, direction and extent of research and
development, product changes, new-product development, equipment and facilities, and
expansion or contraction of product lines.

Functional strategy guides activities within a specific functional area of operations. The
question, How do we support the business-level competitive strategy? concerns
functional-level strategy. It pertains to the major functional departments within the business
unit. Functional strategies involve all of the major functions, including finance, research
and development, marketing, and manufacturing.

CONCLUSION

Strategic planning involves a structure or framework, a set of procedures, and of course


content. Strategic Planning simply introduces a formal discipline for conducting long-term
thinking about an institution and for recognizing opportunities in and for minimizing risks from
the external and internal environments.
In today's highly competitive business environment, budget-oriented planning or
forecast-based planning methods are insufficient for a large corporation to survive and prosper.
The firm must engage in strategic planning that clearly defines objectives and assesses both the
internal and external situation to formulate strategy, implement the strategy, evaluate the
progress, and make adjustments as necessary to stay on track.

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