Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
"A strategic plan is not a wish list, a report card or a marketing tool. It is certainly not a magic bullet or a quick cure for everything that ails an organization -- especially if the plan winds up on the shelf. What a strategic plan can do is shed light on an organization's unique strengths and relevant weaknesses, enabling it to pinpoint new opportunities or the causes of current or projected problems"(Ten keys, 2010, TCC).
Simply the process of creating a strategic plan can be useful: "No matter how relevant its original mission, no organization can afford to shackle itself to the same goals, programs and operating methods year after year" (Ten keys, 2010, TCC). Strategic planning demands the continual reevaluation of methods and methodology. It provides standards of accountability for people, programs, and resources to ensure that no aspect of the organization becomes irrelevant.
The best planning process is participative in nature. The needs, vision, and objectives cannot be dictated in a top-down fashion. All elements of the organization...
"Input, feedback, and understanding are crucial at every step. A key concept to remember is that strategic planning is a cooperative and participatory process. Everyone should have input and, ideally, everyone should feel a sense of ownership over the final plan. Such personal commitment will facilitate the implementation process" (Ten keys, 2010, TCC). This participation must continue over the execution of the plan, as employees can provide important information regarding needed changes: a strategic plan does not seek to control employees; ideally it should empower them to make changes.
References
Strategic planning. (2009). FP&M. Retrieved March 26, 2010 at http://www.fpm.iastate.edu/worldclass/strategic_planning.asp
Ten keys to strategic planning. (2010). TCC Group. Retrieved March 26, 2010 at http://www.tccgrp.com/pdfs/per_brief_tenkeys.pdf
Strategic Planning & Strategy Formulation Case: Strategic Planning & Strategy Formulation Case Assignment -- Comcast Comcast's Current Strategy Current Event Blog Discussion Question: Strategy Planning and Formulation Case Strategy Implementation & Evaluation Current Event Blog 4 -- Strategy Implementation & Evaluation Discussion Question: Strategy Implementation and Evaluation Reflective Discussion Case: Strategic Planning & Strategy Formulation Case Assignment -- Comcast Comcast's Current Strategy Comcast has developed a current business strategy that is completely focused on the customer. The company has positioned itself at the "intersection
Here we can clearly see a shift in the company's philosophy of just offering lower quality products for a significant lower price. The company is trying to develop into new markets and to succeed. There have been some set-backs of course, such as the failure in Germany, and yet the company is persistent and keeps growing into new markets. Wal-mart is seeking to increase the market share for present
FedEx Applying Strategic Market Planning to FedEx Marketing Foundations FedEx (NYSE: FDX) is one of the leading providers of global logistics services to the Business-to-Business (B2B) and Business-to-Consumer (B2C) marketplaces globally. FedEx is particularly strong in the U.S. where 73% of total revenues in their latest fiscal year were generated (FedEx, 2010). FedEx's approach to marketing is to accentuate the role of trusted advisor in shipping, 3rd party logistics (3PL), and supply chain
Strategic Planning for Companies Strategic Planning for Cincom Systems Creating transformational change in companies by automating their most challenging processes, strategies and systems is what Cincom Systems excels at today. The company has five different product divisions, each selling enterprise software into various segments of the Customer Relationship Management (CRM) marketplace. Privately held with 700 employees employed across five continents, Cincom is also profitable and has had many customers on maintenance contracts
Strategic Leadership and Management The link between Strategic Direction and Leadership Leadership can be described as "a process in which a number of people work together for a common task. It also covers accomplishment and eventually getting the task done." Chemers M. (1997) has defined the strategic direction (henceforth referred to as strategic management) as the process whereby one can "identify the needs and wants of an organization and achieving that particular goal
Business- Management Strategic Management Process/Vision, Goals, Objectives Criteria for Mission Statement Expresses the core competency of the business Include the organization's strengths, values, and purpose State the organization's overall strategy for determining long-term success. Explains why the organization exists Explains what the organization is trying to accomplish Criteria for Vision Statement What the business wants to accomplish Time from for accomplishing the goal Inspires creativity Energizes growth Motivates employees Strategic planning establishes where a company is going over the next year or so, how