Strategic Palnning

Strategic planning may be defined as a organize effort to produce good decisions

and actions that shape and guide what a business organization is, and how it operates. The

objective of strategic planning is to develop a blueprint by which to manage an organization's

status. Some would suggest that strategic planning has lost some of its necessity, but most

managers continue to recognize the need for effective strategic planning and implementation.

While strategic planning requires a great deal of time and can be really annoying, if done

properly, it can enable a company to recognize its most effective position within its industry.

There are a many perspectives, models and different approaches used in strategic planning. The

development and implementation of these different tools depend on a large number of factors,

such as size of the organization, nature and complexity of the organization's environment, and

the organization's leadership and culture.

The first step in the strategic planning process is to address the certain concerns like

where do the company stands, and the resources available to company. Evaluating the

history and changes both internal and external composition of the company. Analyzes what you

have to work with involves consideration of strengths and weaknesses and determination of how

to capitalize on strengths. The next step in the process is establish a vision for the company from

the values of those involved in the process, it is essential that this step involve all of those who

will have a stake in the achieving the vision. After forming a vision and determining goals,

planners must address means of reaching their goals. This step involves articulating strategies for

achieving results. Strategies should reflect the strengths and weaknesses of the organization

engaged in the planning. For example, a very small office should recognize that its size could be

both a weakness and strength. The size would limit it to strategies that do not require large

human resource commitments, but would allow it to use strategies requiring rapid dissemination

of information throughout the organization.

Recognition of relative strengths and weaknesses is helpful in identifying promising

Strategies. Convenience, Customer Service, Effectiveness, Location, Pricing, Quality,

Reliability, Reputation, Respect, Responsiveness, Speed, Thoroughness, Variety Many of these

strengths are generally considered intangible in that they are only measurable through the

opinion of the Customer. Some of these strengths appear obvious, but often as business entities

mature, they can lose sight of some of the fundamental strengths that aided them in their success.

Firms that recognize, enhance and appreciate their strengths generally experience long-term

success.