Planing Strategy

The Basics of Strategic Planning and Strategic Management

What is Strategic Planning?Strategic planning is an organizational management activity that is used to set priorities, focus energy andresources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust theorganization'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 itdoes, 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 willknow if it is successful.What is a Strategic Plan?A strategic plan is a document used to communicate with the organization the organizations goals, the actions needed to achieve those goals and all ofthe other critical elements developed during the planning exercise. What is Strategic Management?Strategic management is the comprehensive collection of ongoing activities and processes thatorganizations use to systematically coordinate and align resources and actions with mission, vision and strategy throughout an organization. Strategic management activities transform the static plan intoa system that provides strategic performance feedback to decision making and enables the plan to evolve and grow as requirements and other circumstances change.What Are the Steps in Strategic Planning &Management?There are many different frameworks and methodologies for strategic planning and management. While there is no absolute rules regarding the right framework, most follow a similar pattern andhave common attributes. Many frameworks cycle through some variation on some very basic phases: 1) analysis or assessment, where an understanding of the current internal and external environments...