Strategic planning includes the first four strategic management tasks. Thus, this research investigates the current state of the practice of strategic planning and management in u. The influences on, and elements of, strategic management discussed above are summarised in the figure above. Strategic planning is a part of the firms strategic management process. Elements of strategic planning and management in municipal. This chapter on the strategic management and strategic planning process provide an insight on the basic knowledge on what is strategy and strategic management. A practical guide to strategic planning in higher education. Strategic planning defined strategic planning is a process of looking into the future and identifying trends and issues against which to align organizational priorities of the department or office. May 02, 2012 strategic management is extremely critical in the survival of the organization. It should be done prior to, during the creation of the strategic plan, continue on through the implementation, and in the monitoring process of the strategic plan. Increase the innovation quotient of you management team. Pdf this chapter on the strategic management and strategic planning process. Strategic planning is a process of looking into the future and identifying trends and issues against. Kaufman and steven walleck, strategic management has four basic elements.
There are different kinds of planning and different ways of planning. The edison, new jersey, pipeline explosion revisited planning and strategic thinking attracting a market for tickle me elmo attracting an audience of potential breast cancer victims responding to a public concerned about ridley turtles planning. On the next few pages is a brief example of the strategic planning process that illus trates which key elements are needed for implementation and offers you a guide to follow in your own locality. What are the key elements of the strategic management process.
The elements include an uploaded strategic plan, current mission statement, and priority outcomes. It spells out the logical steps you will take to lead you from the start to the finish of your endeavor. Elements of a successful strategic planning process. The process of gathering data in strategic planning abstract a major part in strategic planning is the process of gathering data. Strategic planning tools and strategic planning template or blog posts focused on strategic planning. Eight elements of strategic planning from success to. Gluck and his mckinsey consulting firm colleagues stephen p. The word strategy originated on the literal battlefield. The process of gathering data in strategic planning.
Local government management guide strategic planning. About me adjunct lecturer at hks two decades experience in the nonprofit and philanthropic sector, designing and leading large global and national initiatives and organizations. The process by which leaders of an organization determine what it. Planning is a complex process that can take many forms. A solid strategic plan should become both a key management tool for the staff and a performance contract between the board and management. Strategic management has three major elements, which include strategic analysis, strategic choice, and strategy implementation.
Elements of an organization planning process considerations. Organizations are supposed to select the directions in which it will move towards. Each member should represent a key function andor interest group to ensure the plan has. The components of direction are purpose, values, mission and vision. Components of an effective strategic planning system. Any reasonable project manager certainly understands importance of planning a project well. Strategic management process meaning, its steps and components. Examination of the external and internal environments of the nonprofit. Planning nature, elements, process, approach, importance.
Strategic management is extremely critical in the survival of the organization. These state agency planning elements are in additi on to the strategic planning requirements for state agencies set forth in the texas government code, chapter 2056. The annual planning cycle section provide a space to enter assessment measures for each priority outcome plus related targets, findings and use of findings for a given year. The process of strategic management involves considering how resources such as money, personnel and time impact the environment in which the organization operates. Most often, the strategic planning process has 4 common phases. Gathering of input from staff, committees, and constituents.
The first step of the strategic planning process is to clearly articulate our direction. Most managers can benefit from having a strategic plan. People having the right people means that all the key stakeholders are represented in some way. A thorough strategic planning exercise outlines the companys main direction while at the same time defining its needs in terms of leadership quality and in terms of financing. Whether this exercise is performed by the ownermanager, the successor, the board of directors, or a management committee, the exercise comprises eight elements.
The process of developing a plan helps the manager and the team step back and examine where they. Eight elements of strategic planning from success to succession. Describe the strategic planning process and swot analysis. Planning is an important aspect of strategic thinking and management. It includes evaluating the firms internal and external situation, defining the business and developing a mission, translating the mission into strategic goals, and drafting the strategy or the. What is strategic management process steps, stages and phases. Data can be secondary or primary data and gathered. Present businesses that have already created a strategic management plan will revert to these steps as per the situations requirement, so as to make essential changes. It defines the boundaries within which the business should operate. When strategic planning works, it is both a creative and a participatory process that builds new insights into helping a group pursue its mission. If you are interested in learning more, here are suggested resources on our site library articles.
Understand grand strategies for domestic and international operations define corporatelevel strategies and explain the. The basics of project planning introduction before commencement of any project, the first thing that we need to do is project planning. Key elements of strategic management mba knowledge base. There are four key elements of the strategic management process. Strategic planning is a disciplined process for making key decisions and agreeing on actions that will shape and guide what an organisation is, what it does, and why it does it. The basics types of objectives program management documents budgets. Center for simplified strategic planning has prepared a new book about how to handle the issues of innovation. Elements of a successful strategic planning process five ingredients are essential for an effective strategic planning process the right people, good data, preparation, a structured process, and adequate resources of time and dollars. Therefore, it must be realized that each component interacts with the other components. It can be general, sweeping and vague, but at least it tells you that you the strategic planning process 1.
The figure is intended not as a prescription of what strategic management should be, but as a framework which readers can use to think through strategic problems. This is why the process should engage the successor in the continuation of the company, which is to say the process should take into consideration the past, the. Four basic elements of strategic management bizfluent. Elements of strategic planning and management in municipal government 47 unless they drive it through their budgeting, measurement, and performance management processes. This enables the businessman to concentrate upon those matters which are actually relevant and vital to business success. Second in a twopart series elements of a strategic plan. There are many components of the process which are spread throughout strategic planning stages. This training contains general information only and deloitte is not, by means of this training session, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. Preparation steps to get the most out of the strategic planning process a solid strategic plan can provide a road map for the organizations future. Review your organizations strengths and weaknesses. A practical guide to strategic planning in higher education 5 about this book undergoing a strategic planning process can be a monumental task, especially for higher education.
The process of planning generates the purposeful and orderly setting up of activities to be carried on. Planning nature, elements, process, approach, importance planning is the conscious, systematic process of making decisions about goals and activities that an organization will pursue in the future. Pdf strategic management and strategic planning process. But without the right input and preparation, an organization can end up with just another expensive binder of good ideas gathering dust on the shelf. Strategic management is itself the fourth and culminating element.
855 969 770 957 498 865 613 977 1260 310 1305 1241 921 1502 70 506 362 1028 129 20 182 263 1409 366 483 672 620 52 1183 753 693 169 509 1124 217 1182 1223 1072 1412 633 835 83 452 1388 937 1432 1332