Asked by: Itziar Ranadhirasked in category: General Last Updated: 11th June, 2020
What is the purpose of the strategic planning concept quizlet?
Likewise, what is the purpose of the strategic planning concept?
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy.
Also Know, what is an accurate definition of strategic planning? Strategic Planning defined. the art and science of formulating, developing, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives. It's a complete look at how to position an organization for the future.
Subsequently, question is, what is strategic planning quizlet?
Strategic Planning. A long term process that helps an organization allocate its resources to capitalize on opportunities in the marketplace. The Strategic Planning Process. Includes conducting a situation analysis and developing the organization's mission statement, objectives, value proposition, and strategies.
What does a company do to start the strategic planning process?
- Identify Your Strategic Position. The first stage prepares you for the rest of the strategic planning process.
- Gather People and Information.
- Perform a SWOT Analysis.
- Formulate a Strategic Plan.
- Execute Your Strategic Plan.
- Constantly Monitor Performance.