Strategic Management Strategic Planning - 1460 Words

When it comes to strategic management many defined it as the management that link strategic planning decision-making. It is sometimes over looked unless it is specifically brought up when it comes up in strategic planning. With this management in place an organization can achieve its long-term goals. As well as plan out its future goals and endeavors for the organization to be successful. Strategy itself has many forms and levels as well; it is broken down into smaller parts of planning. For strategy there are usually four parts to it. Having the overall Idea is the first step, it consist of everything what you are trying to accomplish and what is trying to get done. After that you go into how to do it and break down the procedure of what you are trying to do as well. After you have the planning and operational level, when you plan and let the operation of the plan go into effect. Implementation is the last step when you actually put all of your planning into affect and see the re sults of it as well. Strategic management consists of six key elements, using these tools can assure a successful strategic plan. These tools are; Vision, Mission, Core Value, Strategic areas of Focus, Strategic Goals, and Action Plan. When creating a successful strategic management plan you must include these elements. Each is necessary in creating a blueprint that will not crumble. Having the correct vision of a strategic plan can help you plan out and create a mental picture for theShow MoreRelatedStrategic Planning : Strategic Management1707 Words   |  7 Pages1. How do you conduct your strategic planning? Strategic planning is a joint endeavor that involves field operations, headquarters and mission support. The agency’s strategic planning practices entail brainstorming new ideas, implementing innovations and reflecting on past practices in developing action plans to improve daily functions, upcoming operations and immediate response actions to crisis situations. T he operational plan or warning order provides mission critical information regarding equipmentRead MoreStrategic Management : Strategic Planning986 Words   |  4 Pagesit comes to strategic management many defined it as the management that link strategic planning decision-making. It is sometimes over looked unless it is specifically brought up when it comes up in strategic planning. With this management in place an organization can achieve its long-term goals. As well as plan out its future goals and endeavors for the organization to be successful. Strategy itself has many forms and levels as well; it is broken down into smaller parts of planning. For strategyRead MoreStrategic Management : Strategic Planning847 Words   |  4 PagesHunger and Wheelen (2011) noted that strategic management has been defined as the set of managerial decisions and actions for determining the long run future of the organization. Here, the set of decisions and actions includes internal and external environmental scanning, strategic formulation (strategic planning), strategy implementation, and evaluation control at all three levels. However, it has learned that origin of business strategy or, strategic management discipline was started after the secondRead MoreStrategic Management : Strategic Planning1929 Words   |  8 PagesStrategic management is the process of selecting the organization s goals, mossion and ways to achieve them. It is vital for any business venture to establish and implement strategy for its prosperous development, efficient functioning and success in the future. Strategic planning provides the basis for all management decisions. Otherwise, without a clear strategy, an organisation could face difficulties in achieving its mission, as every business venture requires an elaborate approach, skilfulRead MoreStrategic Management : Strategic Planning3081 Words   |  13 PagesIntroduction Strategic planning in business management is a highly important portion of management as it involves development of plans to ensure growth, success, and above all else, profit. If not analysed correctly a poorly formed strategic plan can result in reduced profit margins. When analysing strategic planning as a discipline, there theorists which develop frameworks to assist managers in how to develop a strategic plan. Of these, Porter’s Five Forces Framework (5FM) is among the most influentialRead MoreStrategic Planning And Strategic Management Essay2359 Words   |  10 Pagesthe overall strategic management process. According to Abraham (2012), â€Å"Strategic management is nothing less than steering and managing a company to be successful over time—not just for the next quarter or year, but for the long term.† (sec. 1.1). Many questions will be answered during this process. â€Å"What direction should the company go in, what industry will it compete in, and w hat products or services will be featured?† (Abraham, 2012, sec. 1.1). Strategic planning and strategic implementationRead MoreStrategic Planning And It Management1424 Words   |  6 PagesStrategic planning is the process of determining a companys long-term goals and then identifying the best approach for achieving those goals (Wikipedia). This process aligns strategic planning with overall organization planning by assessing organizational objectives and strategies, setting the organizational mission and mandate, assessing the external environment and setting policies, objectives and strategies (Wikipedia). A study completed in 1999 revealed that less than 40% of US businesses includedRead MoreStrategic Planning As An Effective Tool Of Strategic Management1486 Words   |  6 Pageslook at the processes of strategic planning as an effective tool of strategic management in business organizations. It finds for effective strategic planning it requires top level managersâ€℠¢ to take an active role in defining the strategic direction of the organization. It requires good working relationships between the planning staff, managers, and the top level management team. In creating an environment which recognizes strategic planning as a tool of strategic management, we will review one of theRead MoreStrategic Management and Planning3167 Words   |  13 PagesStrategic Planning and Management Development Throughout the business industry the people who are most associated with the business process has found strategic planning and management development requires constant shifting back and forth between long-run and short-run thinking (Dess and Miller, 5). Planning is a business process that involves one or more people (depending on the type business) whom decide where the business s objectives lie and how to initially accomplish them over a periodRead MoreStrategic Business Management And Planning1532 Words   |  7 PagesStrategic business management and planning Chapter 1 –understanding the role of strategic planning in organisations 1.2 Strategic management is a way of formulating, implementing and evaluating, cross – functional decisions that enable an organisation to achieve its objective. It ensures that employees and other stakeholders are working towards common goals, establishes agreement around intended outcomes/results, and assesses and adjusts the organization s direction in response to a changing