ACTIVITY # 2

(Midterm)

Interview a manager in your area and ask about his company’s planning process.

In this day’s situation, it is complicated because of the pandemic is not yet over
but so I can't interview with a manager but I'll do my best to find some example by
searching on the Internet what are their planning processes or how steps that managers
should follow to complete and implement a strategy within a company. So Strategic
Planning can be a vital tool for a business as it provides companies with measurable
objectives that aid in daily decision-making. This planning process helps prevent
companies from aimlessly performing business tasks without set priorities or a real
purpose. Without a clear vision in mind for the future, employers may make wrong
decisions for their business and employees may be confused about their position in the
company. A strategic planning process is designed to drive businesses in the right
direction and promote the exchange of useful ideas between people with similar goals.
So several key components make up the strategic planning process, including common
phases like strategic analysis and strategy formulation, along with implementation and
monitoring. Although the strategic planning process requires great patience and can be
a challenging undertaking, most businesses can agree that the process can yield highly
rewarding results. Here is a closer look at the individual stages of the strategic planning
process and how they affect your business.

The first thing that manger should do is Identify Your Strategic Position this
means that it is the first stage that prepares you for the rest of the strategic planning
process. To achieve your goals, you must first have a clear vision. Here Start by
defining both your short-term and long-term objectives. In short, what do you hope to
achieve? Next, determine what steps you will take to accomplish these objectives.
When identifying your strategic position, remember that your goals should be realistic
and measurable. For help with this step, look back to your mission statement, corporate
values, and work culture. The second which is Gather People and Information here,
once you have established your strategic position, you will want to bring in the people
who will be involved in the planning process. You will also want to bring in as much up-
to-date information to the table as possible. Ensure that any data you use is accurate so
that you make informed decisions backed up by facts. Once you have people and
information to draw from, examine any internal or external issues that could affect your
objectives. It may be useful to ask other people in your business for their input, such as
employees, customers, or partners. The third is a manager should be Perform a SWOT
Analysis which is an acronym for strengths, weaknesses, opportunities, and threats
acts as a powerful tool during the strategic planning process. A SWOT analysis is often
performed to help identify the strengths and weaknesses of a business, as well as
identify any opportunities and threats that could arise. Once the team has identified all
strengths, weaknesses, opportunities, and threats, you can work together to develop
new goals that will help your business face these possibilities in a more positive way. A
SWOT analysis can also lead you in the right direction and towards your goals. The
fourth is Formulate a Strategic Plan which means, once you have successfully
identified your strategic position and have a set of goals that align with your company’s
mission, you can begin working on your strategic plan. When developing your plan,
consider which initiatives will have the greatest impact on your business and which will
help improve your position the most. Also, consider which initiatives are most urgent
and put these at the front of the line. To ensure that your strategic plan is working, you
will need to determine the best way to measure your progress. With measurable goals,
you can visibly see improvements as they happen. The fifth is to Execute Your Strategic
Plan which is once you have your strategic plan in place, you are ready to implement it.
This step is the action phase of the strategic planning process. Start by making
everyone involved in the plan aware of your strategy. Ideally, you want to distribute
tasks among different individuals or departments to prevent one person or group of
people from becoming overwhelmed. Also, take the time to check back with these
individuals or groups to ensure that you are staying on track. If you find that you are not
meeting your objectives, make any necessary changes. The last is Constantly Monitor
Performance which means your strategic planning process will not be effective unless
everyone is doing their part. This requires you to constantly monitor and manage
performance and tweak any components that are not leading to satisfactory results. It is
also important to hold those involved in the strategic planning process accountable for
their assigned tasks. Know that it may be necessary to repeat the strategic
management process if any corrective actions you take are not successful. Continue to
collect new and relevant data to help with any future strategic planning that may occur.

This shows that one of every manager performs this kind of strategic planning
that leads to their goals in the company. Because the strategic planning process is
specifically designed to layout your company’s goals and define why they are important,
this can also help you uncover ways to improve performance in the workplace and meet
your unique objectives. So that is the reason why a manager should have/has this kind
of strategic planning because it leads you to all your goal with the business/company.