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Strategy,Strategic planning and the tradtional steps to build an organizational strategic plan,Strategic management and Competititve Strategy - Essay Example

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A strategy comes to place due to the limitations in the availability of the resource a business entity has in a specific period. A strategy is a way of shaping up the…
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Strategy,Strategic planning and the tradtional steps to build an organizational strategic plan,Strategic management and Competititve Strategy
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Extract of sample "Strategy,Strategic planning and the tradtional steps to build an organizational strategic plan,Strategic management and Competititve Strategy"

Download file to see previous pages On the other hand, strategic planning is the process through which an organization defines the strategy to achieve major, as well as minor goals. In other words, strategic planning is the directing and the making of crucial decisions that concern the allocation of the available resource as per the institutions strategy. The strategic plan also involves the control process of management as a way of implementing the decisions that encompass the strategic plan.
The traditional planning method of building an organizations strategy comprises several steps. However, the tradition style of strategy planning omits the step of innovative thinking which to some works of research is the most important aspect of strategic planning is innovative thinking. It is significant also to state that the approach to strategic planning varies given the unique features of every organization. The unique features may include the purpose of every institution, the culture of each organization, the environment and immediate surroundings and the history of other plans; whether they were successful or not.
The first step in strategic planning is the identification of the purpose of the planning process. The procedure makes up the mission statement. The step tends to put forward the reason behind the existence of the firm. The needs of the client makeup the basic purpose of the organization and thus are an outline in the first step.
The second step enumerates the vision of the organization. The step’s main focus is the description of the future state of the business entity and the state of the clients of the organization in the future.
The third step is the establishment of mandatory goals that the institution must reach in an attempt to achieve the set down goals as per the organization’s mission and vision. The step also tries to give answers for the prevailing challenges that the organization is undergoing through in its operations.
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