Professional Documents
Culture Documents
STRATEGY-plans
& activities developed by an organization in pursuit of its goals & objectives, particularly in regard to positioning itself to meet external environmental demands relative to its competition.
PLANNING-management process leads to the establishment of objectives & help to the organization a direction that can exist in the external environment.
a step-by- step process with definite objective and products that can be implemented and evaluated -a process by w/c one look into the future, a picture of what a future based on current trends & influences the forces that will affect as.
STRATEGIC PLANNING-
-focus on a decision of what type of business the organization should be in and how it should allocate resources.
Corporate strategy
-may
on a decision about how each of these business will compete in the market as a provider of an specific service or products.
Business strategy-focuses
Functional level of strategydetermines how an organization will operationalize the corporate & business strategy.
Strategic Formulation
Consensus Of Mission & Vision Environmental Assessment Setting Goals & Objectives
Environmental assessmentan environmental factors using macro environmental analysis or trend assessment.
Macro environmental
formulation process -this analysis involves number of areas : political , economic , legal , social , & technological Successful implementation of these strategies is a crucial part of the planning process.
Organizational structure Division Of Labor Resource Allocation Leadership Control Information System Incentives Standards Measurements.
A number of characteristics of the strategy itself can influence the Implementation process which includes:
Complexity Divisibility Reversibility Diversity, or Consistency
Complexity
- refers to number of different parts to the strategy & the difficulty in achieving them.
Performance
- final step in the strategic process evaluating performance & effectiveness of the plan towards achieving its objectives