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Q: What are some tools used in strategic planning?
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Importance of strategic management in organization?

Strategic management used to play a different role in more predictable times after the Second Word War. Strategic plans of the past usually range 3 to 5 years. Some companies could even have plans for 10 good years. That's not possible today given rapid evolution of our society. What still matters in strategic management lies in the value of planning ahead. There's an old saying that if you fail to plan, you are planning to fail. By acting on this, strategic management actually gives the organization direction, a sense of identity and unity towards what the business goal. Therein lies the continued importance of strategic management towards business success


What is strategic management and planning cycle?

Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization's direction in response to a changing environment. It is a disciplined effort that produces fundamental decisions and actions that shape and guide what an organization is, who it serves, what it does, and why it does it, with a focus on the future. Effective strategic planning articulates not only where an organization is going and the actions needed to make progress, but also how it will know if it is successful. A strategic plan is a document used to communicate with the organization the organizations goals, the actions needed to achieve those goals and all of the other critical elements developed during the planning exercise.


What do you mean by strategic planning?

Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Various business analysis techniques can be used in strategic planning, including SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats ), PEST analysis (Political, Economic, Social, and Technological), STEER analysis (Socio-cultural, Technological, Economic, Ecological, and Regulatory factors), and EPISTEL (Environment, Political, Informatic, Social, Technological, Economic and Legal). (Wikipedia)For the source and more detailed information concerning your request, click on the related links section (Wikipedia) indicated directly below this answer section.


Strategic Project Management?

Strategic project management is used to grow the business. Project managers choose projects that align with the strategic objectives of the company.


What are the disadvantages of strategic planning?

it is time consuming it is costly if external consultants are used tends to be static may not take all aspects of a firm/company into account may not be implemented because of a lack of resources may not be hoilistic

Related questions

Is strategic planning used in education?

Absolutely. In fact strategic planning is done extensively in education. K-12 and higher education both use strategic planning. The links provided offer specific models for IT strategic planning in higher education.


Where and when porter's 5 forces model could used in strategic planning process?

Where and when porter's 5 forces model could used in strategic planning process?


What is market oriented strategic strategic planning?

stategic planning is an approach used by top management in an organisation to move foward in all areas of business or service.


The global strategic planning process?

The global strategic planning process is used by companies that trade across borders. This will entail formulating policies and strategies that will be used to synchronize all the activities in the different countries.


What are two most commonly used tools for planning a programs logic?

Flowcharts and pseudocode


What are some of the tools that the Hopi used?

They used metal tools


Types of strategies used in strategic planning for achieving global competitive advantage?

refer to michale portes five forces model


What is strategic business planning used for?

Strategic business planning is used by businesses to calculate the future consequences that may occur if X plan is taken ahead. This may include doing a SWOT analysis to see if the benefits outweigh the costs of any decision. Such a tool is vital for a business in helping it decide whether a decision is worthy.


Where to buy power tools that have good re-sale value?

I am planning on doing some home remodeling. I'm going to be adding a guest bedroom in the back of the house. Where can I buy some power tools used? I plan to use them only for a few months and then sell them.


What are some key strategic decisions of Stalingrad during the Stalingrad Battle?

they used the buildings snd ruble for sniper cover and strategic movements they used the buildings snd ruble for sniper cover and strategic movements


Importance of strategic management in organization?

Strategic management used to play a different role in more predictable times after the Second Word War. Strategic plans of the past usually range 3 to 5 years. Some companies could even have plans for 10 good years. That's not possible today given rapid evolution of our society. What still matters in strategic management lies in the value of planning ahead. There's an old saying that if you fail to plan, you are planning to fail. By acting on this, strategic management actually gives the organization direction, a sense of identity and unity towards what the business goal. Therein lies the continued importance of strategic management towards business success


What are some tools and devices used for space travel?

some space tools are hammers and scoops