Strategic planning and implementation in ensuring success

Essay add: 28-10-2015, 19:17   /   Views: 150

The preparatory phase of starting any new business both for profit making and not for profit organization relies greatly on setting strategies and making appropriate strategic planning. In order to do so, an organization analyses its current situation, objectives and marketing plans. Analysis of current situation mostly deals with the previous year's Business Trend analysis, Market analysis, Competitive analysis, Market segmentation, Marketing mix, SWOT analysis, Positioning-analyzing perceptions and analyzing Sources of information.

A company's Objectives and Marketing plans deal with the future Marketing strategies, Desired market segmentation, Desired marketing-mix, TOWS-based objectives as a result of the SWOT, Positions and perceptual gaps and Yearly sales forecasts.

APPROACHES TO STRATEGIC PLANNING

Among numerous approaches of making strategic planning, most organizations typically follow a three step process called 'Situation-Target-Path' technique, where an organization evaluates the current situation of the business and how it came about, defines its goals and objectives, and maps a possible route to implement those goals and objectives.

There is an alternative to this approach called 'Draw-See-Think' approach, where the company draws the ideal image or the desired end-states, sees today's situation and persisting gaps from the ideal and its possible reason, thinks what specific actions must be taken to close the gap between today's situation and ideal state.

FOR PROFIT AND NON-PROFIT STRATEGIC PLANNING

Different organization carries out the strategic planning process differently. This variation in strategic planning process depends more on the size and nature of the organization rather the profit/non-profit status of the entities. Small size organizations whether profit or not for profit carry out their strategic planning almost similarly that differs from large organizations. On the other hand, large for profit or large non-profit organizations tend to conduct similar planning activities that are different from those conducted in small organizations.

However, there are some differences in strategic planning process in terms of profit or non-profit status of the organization by the following criteria:

Non profit organizations give more emphasize on board development, fundraising and volunteer management, where in profit making organizations, emphasize is placed on activities to maximize profits more.

ROLES OF STRATEGIC PLANNING

Strategic planning plays an important role in the business area and also in the public areas such as education, healthcare or government. It is practiced and implemented widely everywhere both informally and formally.

In any business organization the roles of strategic planning depend on the nature of the organization's leadership, culture of the organization, complexity of the organization's environment, size of the organization, expertise of the planners etc. According to the diverse goals or objectives of different business entity, various technique of strategic planning is used, for example, goal-based strategic planning, issue-based, organic or scenario-based strategic planning, etc.

But in general, strategic planning serves the following purposes in almost every organization:

â-º Clearly defines the purpose of the organizations and set the objectives or goals

``




Article name: Strategic planning and implementation in ensuring success essay, research paper, dissertation