Strategic Planning May 2010, P. Essay

Excerpt from Essay :

This component of planning functions on the basis of the drive to protect the company, as far as possible, from damage by means of external disaster or internal weakness. Contingency planning, then, allows a company to resume operations as soon as possible after a disaster or crisis. It ensures that the company has components in place that promotes its core health and resiliency. In contrast to the others, this type of planning focuses on possible realities rather than concrete factors or reactions to existing factors.

According to Kurtz, MacKenzie and Snow (2009, p. 51), marketing planning focuses on implementing strategic planning activities in terms of presenting the product to the customer in a way that would generate sales. Like tactical planning, this is also a short-range planning system that will necessarily change as the environment and result reveals its strengths and weaknesses. This component also includes the communication strategy the company implements to stimulate the maintenance and growth of its customer base. This is a longer-term goal than the marketing strategy that is focused upon promoting new products to new customers. Relationship building has the long-term goals of retaining existing customers for the benefit of possible future sales. This type of planning is therefore highly integrated with the strategic plan, as it functions as a focus upon long-term success that is based upon projected customer preferences.

Administrative planning, according to Wallace and Webber (2010, p. 116), might be said to be the practical component of strategic planning. It concerns the business continuity program in terms of description and documentation. In other words, administrative planning provides a single document that contains planning information such as initial program development, BIA, and risk assessment. Lon-term contingency planning and strategy are also included in the document. Administrative planning also has a more general focus than the other types of planning, in that it provides an all-encompassing vision of the planning process. It is both a long- and short-range glance of the company's planning strategies, from the strategic planning component, to the briefest of implementations and marketing. The administrative plan, then, contains highly detailed information of all the other types of plans that have been created.

In addition, the administrative planning document contains useful information such as vender lists, service contract information, and other types of lists that the business might find useful in its day-to-day and longer term activities. Furthermore, the administrative plan also provides a schedule for the regular testing of existing plans. As the business progresses through its life cycle, testing is required periodically and at varying depths to ensure that the business caters to an ever changing market and the ever changing needs of the customer.

In conclusion, no business can afford to be without a clearly laid out strategic plan. It is also, however, important to note that this plan should be supported by other planning types in order to successfully implement the business strategy. Tactical planning provides the platform for practical, short-term implementation, while marketing planning focuses primarily upon the customer base. Contingency planning creates a basis of safety from potential disasters, and operates on a long-term, hypothetical basis. All these types of planning are included in the administrative planning document, which is available for scrutiny and modification whenever this is deemed necessary. In any business, planning is one of the most vital components. Without planning, and without identifying a company's strong and weak points within this process, no company can succeed. It is therefore vitally important that all employees be aware of the importance of planning, and how this will work towards the growth and longevity of the company that provides them with a livelihood.

References

Boone, L.E. And Kurtz, D.L., 2010. Contemporary Business. John Wiley and Sons.

Kurtz, D.L., MacKenzie, H.F. And Snow, K. (2009). Contemporary Marketing. Cengage Learning.

May, G. (2010). Strategic Planning. New York: Business Expert Press.

Wallace, M. And Webber, L. (2010). The Disaster Recovery Handbook: A step-by-step plan to ensure business…

Sources Used in Document:

References

Boone, L.E. And Kurtz, D.L., 2010. Contemporary Business. John Wiley and Sons.

Kurtz, D.L., MacKenzie, H.F. And Snow, K. (2009). Contemporary Marketing. Cengage Learning.

May, G. (2010). Strategic Planning. New York: Business Expert Press.

Wallace, M. And Webber, L. (2010). The Disaster Recovery Handbook: A step-by-step plan to ensure business continuity and protect vital operations, facilities, and assets. Amacom Div American Management Association.

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