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 basics types of objectives program management documents budgets. Most often, the strategic planning process has 4 common phases. Reflect on the community and broader environment in which your organization operates to identify the opportunities and threats that it faces. Strategic planning is a part of the firms strategic management process.
If you are interested in learning more, here are suggested resources on our site library articles. This enables the businessman to concentrate upon those matters which are actually relevant and vital to business success. Strategic management has three major elements, which include strategic analysis, strategic choice, and strategy implementation. 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.
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. Strategic management is itself the fourth and culminating element. Eight elements of strategic planning from success to. 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. The components of direction are purpose, values, mission and vision. Components of an effective strategic planning system. Pdf strategic management and strategic planning process. Within the departments and offices, it means aligning a division, section, unit or team to a higherlevel strategy.
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. Pdf this chapter on the strategic management and strategic planning process. Whether this exercise is performed by the ownermanager, the successor, the board of directors, or a management committee, the exercise comprises eight elements. Elements of strategic planning and management in municipal government 47 unless they drive it through their budgeting, measurement, and performance management processes. There are many components of the process which are spread throughout strategic planning stages.
The process of gathering data in strategic planning. A practical guide to strategic planning in higher education. It defines the boundaries within which the business should operate. Gathering of input from staff, committees, and constituents. Elements of strategic planning and management in municipal. A solid strategic plan should become both a key management tool for the staff and a performance contract between the board and management. The word strategy originated on the literal battlefield. It can be general, sweeping and vague, but at least it tells you that you the strategic planning process 1. Planning nature, elements, process, approach, importance. Gluck and his mckinsey consulting firm colleagues stephen p. Center for simplified strategic planning has prepared a new book about how to handle the issues of innovation. 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. Overview of planning toolkit on overview of planning by janet shapiro email.
Describe the strategic planning process and swot analysis. It spells out the logical steps you will take to lead you from the start to the finish of your endeavor. The process of planning generates the purposeful and orderly setting up of activities to be carried on. 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. Strategic planning tools and strategic planning template or blog posts focused on strategic planning. Any reasonable project manager certainly understands importance of planning a project well. Each member should represent a key function andor interest group to ensure the plan has. When strategic planning works, it is both a creative and a participatory process that builds new insights into helping a group pursue its mission. Four basic elements of strategic management bizfluent.
People having the right people means that all the key stakeholders are represented in some way. 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. Key elements of strategic management mba knowledge base. Second in a twopart series elements of a strategic plan. This chapter on the strategic management and strategic planning process provide an insight on the basic knowledge on what is strategy and strategic management. What is strategic management process steps, stages and phases. The elements include an uploaded strategic plan, current mission statement, and priority outcomes. 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.
The first step of the strategic planning process is to clearly articulate our direction. 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. Examination of the external and internal environments of the nonprofit. 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. 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. Review your organizations strengths and weaknesses. Local government management guide strategic planning.
Elements of an organization planning process considerations. Organizations are supposed to select the directions in which it will move towards. 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. 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. By working on a strategic plan together a team can. Therefore, it must be realized that each component interacts with the other components. There are different kinds of planning and different ways of planning. The process of developing a plan helps the manager and the team step back and examine where they. Elements of a successful strategic planning process. Thus, this research investigates the current state of the practice of strategic planning and management in u. The basics of project planning introduction before commencement of any project, the first thing that we need to do is project planning. Data can be secondary or primary data and gathered. 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.
The influences on, and elements of, strategic management discussed above are summarised in the figure above. Most managers can benefit from having a strategic plan. Kaufman and steven walleck, strategic management has four basic elements. Understand grand strategies for domestic and international operations define corporatelevel strategies and explain the. 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. 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. The process of strategic management involves considering how resources such as money, personnel and time impact the environment in which the organization operates. Strategic planning includes the first four strategic management tasks. There are four key elements of the strategic management process.
Planning is an important aspect of strategic thinking and management. Increase the innovation quotient of you management team. Strategic management is extremely critical in the survival of the organization. The process by which leaders of an organization determine what it. 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. Planning is a complex process that can take many forms. Strategic management process meaning, its steps and components. The process of gathering data in strategic planning abstract a major part in strategic planning is the process of gathering data. What are the key elements of the strategic management process.
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