TUESDAY “sperate Parsing Tg tho Process - Lohich | bosiness Quatre —S te, aa for. oa a os oun’ ~Gchbeutog ue unwolves Stearegyt alg Pinon n Steokeqy nn decfsi snctyaking Nan HO ie BwOunces AlUocahon: a fxc e358. 0] Casper ab 2 15 Envionmental Analysts 2 Petmeuninabon of object:The four main plans of business are strategic, tactical, operational and contingency. e Strategic planning looks at the long-term issues of the organization, and helps develop a plan for growth or change of business function. Goals developed at the strategic planning-level are often increased by dividing them into tactical and operational levels. e Operations planning focuses on day-to-day issues, such as staffing levels or inventory quantities. Operational-level planning includes more detailed objectives with concrete deadlines and task assignments.e Tactical planning is used to reach the goals set out by strategic and operational planning. Tactical planning includes short-term objectives and tasks designed to create specific results within a limited time span. Tactical plans often include operational level plans, and make way for the development of contingency level plans. e Contingency-level planning includes more detailed action items with specified responses in case of unexpected events or emergencies, such as natural disasters or extreme weather events that disrupt business operations.What Is A Vision Statement? A vision statement is a statement of what the future looks like if the organization is successful. It’s a statement of where you as a company are headed. A vision statement describes what the world will look like if you achieve the mission that serves your purpose (more on those in a little bit). And the thing about vision statements is that they are by nature aspirational. They are meant to inspire by painting a picture of a future worth working towards. All leadership involves change to some extent and your vision statement is a picture of what the world looks like when you have finished that change.What Is A Mission Statement? So if the vision statement answers what the world is going to look like in the future, your mission on the other hand answers the question “how?” as in “how are we going to make that vision a reality?” How are we going to behave?” How are we going to win? How do we define the objectives to measure whether we’re making progress?What Is A Purpose Statement? A purpose statement explains your organization’s reason for existence. It explains why your organization began, and why it’s on that journey. It explains what injustice in the world it is seeking to right or what opportunity it is seeking to leverage. A purpose statement can be answered with that sort of founding story, but often it’s a declarative statement that offers the same explanation of values and how the organization’s existence is upholding those values.ay < OuUL¢ 3- nove c 4 Meuts 5 > U1 OU 6> “Imon Company Valu | peep 42 Enhance he t J Guality o QF business prddy | re Graf ting Risin ery Objectives. Os, 2 (s UVE, fotoxtt and imple mandi, "4 The _eaction ond Coram # rund of the Compe +t" foun ne ed 4 be? Considered1. Competitive Strategy 2. Corporate Strategy 3. Business Strategy 4. Functional Strategy, and 5. Operating Strategy 1. Competitive Strategy: Firstly, competitive strategy is the first of the kinds of strategies in strategic management. It refers to a plan that combines the clout of the external situation. Along with the integrative concerns of the personal status of an organization. The competitive strategy aims at gaining a competitive advantage in the marketplace against competitors.2. Corporate Strategy: Secondly, corporate strategy is a type of strategy in strategic management. It draws up at the top level by the senior management of a diversified company. In our country, a diversified company is known as a ‘group of companies, such as Bashundhara, Partex, Beximco, and Square Group. Such a_ strategy describes the company’s overall corporate strategy. As well, corporate strategy defines the long- term objectives and generally affects all the business-nits under its umbrella. A corporate strategy (Bashundhara) may be acquiring the major tissue paper companies in Bangladesh to become _ the unauestionable market leader.3. Business Strategy: Thirdly, the different types of strategies in marketing (strategic management)’s third one is a business strategy. Business strategy formulates at the business-unit level. It is popularly known as_ the ‘business-unit strategy.’ This strategy emphasizes the building up of the company’s competitive position of products or services. Business strategies are compos of a competitive and cooperative approach.4. Functional Strategy: Fourthly, the functional strategy is a type of strategy in strategic management. A functional strategy refers to an approach that points up a particular functional area of an organization. It sets down to achieve some objectives of a business unit by maximizing resource productivity. Once in a blue moon, functional strategy names departmental strategy since each business function frequently devolves with a section. Examples of functional strategy comprise production strategy, marketing strategy, human resource strategy, and financial strategy.5. Operating Strategy: Finally, the operating strategy is the fifth type of strategy in strategic management. It gives form to the operating units of an organization. A company may develop an operating strategy. For an instance, for its sales zones. An operating strategy is put across at the field level, usually to achieve on-hand objectives. In some companies, managers develop an operating strategy for each set of annual goals in the divisions.