Strategic planning - Admission/Application Essay Example

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They are created for the attainment of particular and specific purposes, whether for profit or not. They do not exist for the sake of existing. It exists to achieve a goal.
Since corporations are, in the strictest sense, incorporeal and…
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Strategic planning
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Download file to see previous pages Strategic planning is that activity undertaken by an organization’s leaders in order to determine “where an organization is going over the next year or more, how it’s going to get there, and how it’ll know if it got there or not.” (McNamara, 2008 Strategic Planning) Strategic planning is essentially long-term, and focuses on the entire breadth of the organization. This is in contrast to a business plan, which usually centers on a particular product, service or program. A strategic plan directly embodies the raison d’etre of the organization, its reason for being.
1. Strategic Analysis – involves a scan, or review, of the organization’s environment and the various driving forces that influence it. In this review, attention is given in articulating the strengths, weaknesses, opportunities and threats (acronym SWOT) regarding the organization.
2. Setting Strategic Direction – planners come to conclusions about what the organization must do as a result of strategic analysis. These conclusions include the strategic goals (overall accomplishments) the organization should achieve, and the strategies (overall methods) in order to achieve the goals. The goals should be worded to be specific, measurable, acceptable to those working to achieve the goals, realistic and timely (acronym SMART); also, they may be said to be extending the capabilities of those working to achieve the goals, and rewarding to them, as well. (another acronym SMARTER). During this process, the planners should formulate the organizations’ mission statements (brief written descriptions of the purpose of the organization), vision statements (a compelling description of how the organization will or should operate at some point in the future and the benefits to the stakeholders), and value statements (overall priorities in how the organization will operate).
3. Action Planning ...Download file to see next pagesRead More
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