Professional Documents
Culture Documents
Central Role of Strategic Planning
Central Role of Strategic Planning
Group B
Central role of strategic
planning
A strategy is a theory about how to gain competitive advantages.
A good strategy is a strategy that actually generates such
advantages.
Assesing,choosing,designing,delivering,communicating and
sustaining customer value is essential for successful marketing
ic
Analysis of marketing
opportunities
Tactica
Product features
Promotion
Merchandising
l
Pricing
Sales channels
Service
Corporate and Division strategic
Planning
Establishing SBU
ne
Provid
These mission touris
can be changed m
based
by a company servic
from time to es
time
Why Mission?
Shared sense of purpose,Direction and
Opportunity
Good Mission statements
Focus
Stress on major policies and values
Define major competitivr spheres within which
company will operate
Take a long term view
Short,memorable and meaningful as possible
Establishing Strategic business Units
Business Mission
Internal External
SWOT Analysis
Environment Environment
Goal Formulation
Strategy Formulation
Programme
Formulation and
Implementation
Feedback and
Control
The Business Mission
Each Business Unit needs to define
its specific mission within the
broader company mission.
SWOT Analysis
A successful business activity is built
on the companys core
competencies.
Market Firms
S W
O Applying
competencies to
Overcoming
weakness by using
take opportunities opportunities
T Applying
competencies to
Limiting own
weakness and
defend dangers defending dangers
Goal Formulation :-
Goal are objectives that are specific with
respect to magnitude and time. Goals are set
to define what is important to achieve. When
conducting management by objectives there
are four relevant criteria :-
Objectives must be arranged hierarchically,
from the most to the least important.
Objectives should be quantitative whenever
possible
Goals should be realistic.
Objectives must be consistent.
Strategy Formulation :-
A Strategy is a framework for action, it channels all programmes
and activities according to the defined goals. A well developed
strategy works as both a guide and an aid for the distribution of
resources, identification of needs, changes in the organization
etc.