importance of strategic planning ppt

Unit objective: Unit 1 will discuss some of the key concepts, characteristics and main stages of education sector planning. Strategic planning is a business process that many companies employ to identify critical success factors that set the course for future growth and profits. It states why the organization is in existence. Some goals will be short-term, some – intermediate, and some long-term. Strategic planning is a coordinated and systematic process for developing a plan for the overall course or direction of the endeavour in order to optimizing the future potential. However, it wasn’t until the advent of smartphones that people began to recognize and widely use […], Did you know that displaying consistent branding across different sales platforms can increase revenue by up to 33%? The benefit of strategic planning is that no re-planning is required in the process, and there are contingency plans for … most managers regularly engage in strategic planning (short and long term). Is there an activity in place to evaluate progress and success? This Strategic Planning PPT template has a green background and a marketing plan with a chart. A model is a structure that you design for your plan, while the strategic planning frameworks are the details that you place within that model to achieve and evaluate progress toward the goals of your plan – for example, specific objectives, action plans, resources, and evaluative process. A strategic plan allows organizations to foresee their future and to prepare accordingly. What better way to describe the importance of planning in our day to day lives. strategic planning exercise. The context of strategic planning involves the needs of the business organization, including the need for the organization to ensure that its operations properly match the conditions of the market. There are plenty of OPSP templates that a manager can use to develop this type of plan, and here are a few tips as one is completed: Note: Full action plans will obviously include much more detail than space will allow on the OPSP. Now that you have some tools and templates at your disposal, let’s take a closer look at the key strategic planning steps. What is Brand Management? They are identified and plans then made to respond to each factor. Planning levels:Strategic planning Tactical planningis the preparation of long-term plans by top management aimed at achieving organizational goals and objectives. A standard SWOT analysis accounts for both internal and external factors. What gap in your niche/industry are you filling? A lot of things can happen in-between – the project can get side-tracked, the timeline may change and new threats may emerge. How are we going to get there? A business plan is a document that is developed when launching a business describing the business model and its components, explaining the business potential and attempting to raise capital (loans or investment). These may not necessarily be included in your current strategic plan, but you must have those in mind as you develop annual goals/objectives. Questions• What is strategic planning?• Why is others understanding the vision so important?• How can the bank best utilize the information presented today.• Are you committed to product quality? Planning is an important aspect of strategic thinking and management. Is full customer satisfaction an abiding focus? However, you can also settle for a shorter, more agile version – a one-page strategic plan. Strategic management and strategic planning are both incredibly important aspects of organizational management. Include mission/vision statement(s) and goals (targets) – include long-term goals and from those the focus goals for the next years. Because it focuses on an entire organization on long-term goals and allows managers and supervisors to develop plans that will work toward meeting them. Who is responsible for the activities that will take place? What activities will occur to bring about the change? Duration: 30 minutes Materials • Flip Chart • Markers • LCD projector Power point: Strategic Planning Workshop STEPS Step 1: Introduction to the concept of strategic planning Introduce participants to the concept of strategic planning. Focus and accountability will just not happen. Check our separate post about how to perform a gap analysis for more insights. Strategic Planning defines the procedure in which strategies are formulated to overcome any specific target or set of targets within a specific time frame. If the company itself is contemplating a new initiative. What do we want to achieve? To get a better sense of what needs to be accomplished and how? Blue Ocean: Organizations often live in a red ocean – an environment in which there is lots of competition, and strategic goals must relate to competing in an existing marketplace, beating that competition, and working to gain more of an existing customer base. There are many benefits to strategic planning: Strategic plans should not be confused with business plans. A strategic plan also includes all the steps an organization needs to take in order to get where it needs to be. PEST is an acronym for Political, Economic, Socio-cultural, and Technological. Free Strategic Planning PPT Template. The Basic Plan: Open up with a mission statement, formulate the mid-range goals, and specify strategies for achieving these. The US Post office• Where were they 30 years ago?15 years ago?5 years ago?Today? Why is strategic planning important? LITERATURE REVIEW The Importance of Strategic Management in Education Through the education system, strategic planning provides potential and opportunity for planners to act proactively to the future, technology, and the environment as a whole. The model includes lists of KPI’s and how those will be measured. Looks inwardly at what we want/where we want to be For instance, the market situation changes over time, such that the dynamism of the market condition can significantly impact the demand for the products and services of the organization of interest. All strategic plans sit atop of a model and a framework. Long Range Planning. Departmental or divisional plans areformulated at the middle level ofmanagement and approved by the topmanagement. Such planning includes the plansformulated for various departments ordivision of an enterprise.it determines thescope and activities of a particulardepartment. If you are doing your planning, it is worth remembering a very cool saying that there are five types of companies: those who do not know what happened those who are surprised when things happen It is based on a mission/vision statement, stated core values, and goals. 1. This is your “big” statement, taking into account what the ultimate goal for your business is. When a new team or unit is to be established, it is imperative to develop a strategic plan at the very outset. With a strong strategic plan, organizations can be proactive rather than merely reacting to situations as they arise. But strategic management isn't all theoretical; it is a practical way to implement a company's decisions, vision and goals. You can change your ad preferences anytime. Looking beyond just the next year is critical for a business that intends to grow. Can this even be done, given all that must-go into a strategic plan? A good strategic plan can improve student outcomes, keep great teachers and enhance the reputation of district leadership. A SWOT analysis should be conducted (strengths, weaknesses, opportunities and threats) to optimize the company's strengths … Now it is a requirement just to survive. Toms Shoes: The responsibility of providing for the comfort of children in impoverished regions worldwide. If the process is conducted well (inclusion of all stakeholders in the strategic planning process), there is. The Cascade Strategy Planning Model: The model begins with a vision statement, much like the mission statement in the model above. Strategic planning is a complex process. Is the plan clear, and do all participants understand exactly what their roles are? #1 provider of premium presentation templates for PowerPoint & Google Slides. Brand management is a multi-facet process of presenting and supervising the promotion of a […]. Overcoming Barriers to Goal Setting. The Scenario Model: The idea behind this model is to construct a variety of scenarios that could occur due to external events or changes – regulations, demographics, etc. A must have for business administration students. When you get a sense of direction through strategic planning, it becomes easier for you to follow the path and take the business to an extraordinary level. The first step would be to choose the right model or framework. What value does your product or service bring to your target customers? It’s what you want when you finally can say, this organization is a great success. Looks like you’ve clipped this slide to already. This model also includes monitoring and assessment of progress at stated intervals. Enter brand management. Before Google Search, Facebook or responsive UI designs taking the Internet by storm, the QR code was being used for high-speed component scanning during vehicle manufacturing. Next, for each goal you’ll have to develop an action plan that accounts for the following: Once you’ve developed a draft, ask the following questions: These 7 elements are sufficient for creating a detailed 3- to 5-year strategic plan. Involve as many stakeholders as possible, especially those who will be responsible for managing the implementation and the action plans. This report explores the role of strategic planning in Turkey’s successful transformation of its health sector since 2002. Sit down with your team and come up with values to which everyone should commit – three or four that will guide everyone’s behaviors. List action plans and responsibilities, as well as time frames. According to the Principles of Marketing, by Kotler and Armstrong (which I highly recommend everyone to read), strategic marketing planning describes how a company will adapt to take advantage of opportunities in its constantly changing environment. Involve representatives from top to bottom of an organization, so that there is much buy-in and sense of ownership as possible. Importance of Strategic Planning Precisely, strategic planning is the formalized road map determining how the company will execute any particular strategy. The template is suitable for marketing implementation as well as direct marketing presentations to be used by a marketing company or marketing firm, but it can also be used for presentations on Strategic Thinking or Strategy … Blue Ocean Strategy PowerPoint Template by SlideModel. What is the timeline for the completion of the activities? Strategic Planning . A strategic pla… It determines the allocation of resources in a way that promotes the plan. At the time of product launch, if the products/services are fully developed, as part of the go-to-market strategy. Gap Planning: As the name implies, the gap planning framework allows an organization to identify where it is now and where it would like to be at some point in the future. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. And you may want to develop a three or five-year strategic plan and then strategic sub-plans on an annual basis. Strategic planning enables delegation of decision making Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.. Have any outside participants been included (e.g., are there regulatory agencies that must be involved or communicated with)? 17. There was a time when strategic planning was done by the biggest companies, and those who lead change. Does the plan anticipate potential events that could have positive or negative progress? The structure is created after goals a prioritized and followed by action plans for achievement. See our User Agreement and Privacy Policy. Strategy development and planning are complex tasks and it’s easy to approach them from the wrong angle. Are environmental sustainability and social responsibility a part of your company’s actions and behaviors? This framework is generally used when internal, not external, conditions can be changed/improved. The key of the planning session is that it forces all the participants to focus on what will have a real strategic … (Mission) 2. The goal of this framework is to determine how an organization can move into a blue ocean of new marketplaces and new customer bases. Human Resource Planning is and is an important process for the business strategy and operation of its operations. What resources (money, staff, etc.) BENEFITS OF STRATEGIC PLANNING PROCESS An important advantage of the strategic planning process is that it involves all “stakeholders,” is highly visual and it can be done quickly. If a business is new to this process, it may be wise to bring in a strategic planning consultant for the initial plan development. For strategic management to be successful, the organization's leaders must have a thorough understanding and analysis of their company. But there are certain times when it’s worth to think about it: So, how does a manager go about designing a strategic plan? Gap Analysis PowerPoint Template by SlideModel. Once a company is established (up and running), it is time for a detailed strategic plan that would outline growth and perhaps digital transformations. is the preparation of medium- term plans by middle management aimed at supporting the strategic plan by achieving functional goals and tactical objectives. Through strategic planning, companies can anticipate certain unfavourable scenarios before they happen and take necessary precautions to avoid them. Regardless of the these factors, a good thesis statement is essential to ensure that your thesis can stand its ground and enable you to actively pursue your academic endeavors without any hiccups. These should usually be annual in nature, and they may relate to various parts of an organization, depending on its needs. Strategic planning helps in knowing where we are and where we want to go so that environmental threats and opportunities can be exploited, given the strengths and weaknesses of the organisation. 11. Leaders of business must be looking ahead, anticipating change, and developing a strategy to proactively and successfully navigate through the turbulence created by change. These identify the core values. 4 Types of Plan - Definition, Practice, Explained with Examples. Why? If the industry is evolving quickly and competition is becoming brisk. An excellent summary of how a strategic plan is done. Teach for America: One day, all children in this nation will have the opportunity to attain an excellent education. Now customize the name of a clipboard to store your clips. The primary purpose of strategic planning is to connect the organization’s mission and vision by addressing these three questions: 1. The Goal-Based Model: As the title implies, organizations establish prioritized goals/objectives, and then align them with respective action plans. PEST Analysis Template for PowerPoint by SlideModel. Core Values. Unit content: • traditional vs. strategic planning; • key stages of strategic planning; However, there’s a long way between formulating those goals and seeing the results of their successful accomplishment. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. It lets us think about the important rather than the urgent. More consideration of the external environment. It may also extend to control mechanisms for guiding the implementation of the strategy.

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