planning and strategic management Essay

Submitted By issahadd
Words: 414
Pages: 2
Open Document
Topic: Planning and Strategic Management
1.
Situational Analysis
A process planners use to gather, interpret, summarize information in time and resource constraints.
Alternative goals and plans
Alternative Goals and Plans configured during the situational analysis that may be used to achieve the goals
Goal and Plan Evaluation
They now asses the advantages disadvantages and effects of each of the alternative goals
Goal and Plan Selection
Then they choose one that is affordable and appropriate and identify the priorities and tradeoffs among the goals and plans.
Implementation
Managers have to educate employees about the goals and implement the plans designed to achieve the goals.
Monitor and Control
Managers must monitor actual performance of their work units against

2. Strategic planning consists of long term goals and plans that have strong external orientation and cover major portions of the organization.
Tactical planning is for translating broad, strategic goals and plans into specific goals and plans and are relevant to a certain portion of the organization.
Operational planning is the process of identifying specific procedures and processes at lower level management, such as production runs and delivery schedules.

3. Planning provides individuals and work units with a clear map to their future goals and plans. Goals are targets or ends the manager wants to reach. Even the best plans are useless if they are not implemented properly. It helps clear a pathway to achieving organizational goals by making them attainable.

4. A SWOT analysis is a comparison of strengths, Weaknesses, Opportunities and Threats that help executives formulate strategy. The SWOT analysis would reveal what strengths the newspaper company has and assess those
Show More

Related Documents: planning and strategic management Essay

Strategic Planning In Strategic Management

According to (Atow-Zahir, 2012) strategic planning lays down the expectations of stakeholders such as government, customers, shareholders and employees and also examines the impact the environmental factors has on its expansion and growth strategies in a highly competitive environment. It sets the basis for performance measurement and the methodologies to be used when change is necessary in an effort to achieve the organization’s objectives and goals. This creates an organizational culture that encourages…

Words 1178 - Pages 5

Too Much Formality and Emphasis on Planning Processes Will Slow Down and Stifle the Ability of an Organization to Respond to Change. in Light of This Statement, You Are Required to Answer, in a Practical Way, the Essay

Matsika - Best Assignment (M. Comm. Strategic Mgt. & Corp. Gov) Midlands State University 2013 Introduction Formality refers to the degree to which participation, responsibility, authority, and discretion in decision-making are specified in strategic management. Formality is an important consideration in the pursuit of strategic management, because greater formality is usually positively correlated with the cost, comprehensiveness, accuracy, and success of planning. A number of forces determine how…

Words 3112 - Pages 13

Strategic Management Case Study

1. Introduction: VanBaren (no date) believe that the purpose of strategic management is given distinct direction to satisfy the customers’ needs to employees by planning the steps to the goals. Strategic management are often use by companies to evaluate and analysis of their strengths, weaknesses, opportunities and threats to set put the goals and try to achieve them. This analysis assist companies to understand current conditions in their field industry and environment, the purpose is to turn weaknesses…

Words 995 - Pages 4

Ind: Strategic Management Process Essay

Strategic Planning Report Angelia Pino March 23, 2015 HCS 589 Dianne Nelson Strategic Planning Report Organizations establish priorities to determine the importance of the organization while combining available resources and energy. Strategic planning educates supervisors, staff and stakeholders the importance of directing their attention to the common goal. Strategic management provides the necessary tools for an organization to determine their mission and future success. Once the organization…

Words 909 - Pages 4

Strategic Managment Essay

Principles of Management Research Paper Strategic Management Keisha Barnes Instructor: Mike Ammons North Carolina Wesleyan College Spring 2011 What is strategic management? Strategic management has many workable definitions. Some of them are as follows. The process of managing the pursuit of organizational mission while managing the relationship of the organization environment (Higgins). It could also be defined as the set of decisions and actions resulting in the formulation and implementation…

Words 1042 - Pages 5

Essay about Andrea Marandino Introduction United Parcel Service

Express, and large government supported agencies such as Deutche Post. Senior management become concerned that UPS’s execution mentality was hindering management’s ability to foresee changes in their business environment in the future. To address these concerns, senior management decided to establish a Strategic Advisory Group and a Corporate Strategy Group to develop strategic processes for planning for the future. Management viewed the challenge at UPS as being able to come up with creative ideas about…

Words 2714 - Pages 11

Strategic Management Essay

Strategic Management Process Paper Sophia Carballo MGT/498 August 12, 2013 Richard Wheeler Strategic Management Process Paper Introduction In Chapter 1 of Concepts in Strategic Management and Business Policy, strategic management is defined as a set of managerial decisions and actions that determines the long-run performance of a corporation. The primary components of a strategic management process include internal and external environment scanning, strategy formulation, strategy implementation,…

Words 528 - Pages 3

Strategic Management Essay

today it is critical to have strategic management in place in order to assure that objectives are being met. When examining strategic management and the concepts it implies organizations must look at both internal and external factors. A SWOT analysis is a valuable tool in which companies are able to dive deeper into their strengths, weaknesses, opportunities, and threats. In order to find success a strategic process must be in place as a guideline to steer management in the correct direction.…

Words 414 - Pages 2

Essay on Charetered Managament Institute Level 7 Diploma - Course Details

Strategic Management and Leadership Level 7 Strategic Management and Leadership Contents Page Qualification structures Unit 7001 Unit 7002 Unit 7003 Unit 7004 Unit 7005 Unit 7006 Unit 7007 Unit 7008 Unit 7009 Unit 7010 Unit 7011 Unit 7012 Unit 7013 Unit 7014 Personal development as a strategic manager Strategic performance management Financial management Strategic information management Conducting a strategic management project Organisational direction Financial planning Strategic marketing…

Words 3591 - Pages 15

Strategic Management Process

PREFACE Strategic management is the management of change involving the system of corporate values, the corporate culture, and all managerial process of change, such as leadership, planning, control, and human resources management. The strategic management process represents a logical, systematic, and objective approach for determining an enterprise's future direction. Researchers usually distinguish three stages in the process of strategic management: strategy formulation, strategy implementation…

Words 1677 - Pages 7