Strategic Planning : Strategic Management

There is a need for strategic planning on a continuous basis, not only for organizations, but also for departments or sections within organizations. The Michigan Veterans Affairs Agency went through very thorough strategic planning upon its inception and continues to update that plan on an annual basis. The strategy section, by extension engages in strategic planning in order to meet the goals set by the

Strategic planning is used for an organization’s mission statement, goals and objectives. Strategic planning defines how the organization will meet these goals and objectives. The organization usually has a time frame of about 5-10 years to meet these objectives. These objective and goals are evidenced based to use those resources available. There are three questions that the book states that should be used when defining strategic planning and they are 1) where do we want to be? 2) where are we now? and 3) what’s the best way of getting from where we are to where we wat

E TRADE is a great option for the active trader. The active trader is someone who makes 150 plus trades per quarter. If you make less than that, E TRADE is not cost effective. The trader would be best serviced going to Ameritrade or Schwab. E TRADE should look at Schwab and how they have maintained their customer base.

Communication is key in sharing information, promoting strategic thinking, and foster relationships by working in teams within the organization. Executives could have managers start by participating in strategic thinking with community groups and local businesses (Goldman, 2007). Organization strategic thinking should urge employees to look ahead for opportunities as to avoid being in constant reactive mode. It is essential to communicate that strategic thinking is goal oriented, planned over a length of time, and tied to the mission and goals of the organization. It is significant to match employees with mentors when you can to aid in developing and fostering strategic thinking skills in addition to rewarding employees when possible (Goldman, 2007).

1. Compare and contrast the characteristics of the operational, managerial, and executive levels of an organization.

An organization begins to establish and implement its goals through the process of Strategic planning. Strategic Planning gives an organization a clear picture of how to accomplish the goals it has set to achieve. Organizations are successful when there is a precise vision of what the mission is, and the steps needed to complete it. The steps an organization takes clarify its vision will determine how effective it will be. Many organization have a more basic process while others have more complex and detailed strategies. An organizations strategy will show how the organization has progressed and how successful it will be in the future.

The organizational hierarchy and economic conditions directly impacts the roles and functions of business leaders. Therefore, it is imperative that one reviews organizational structure in order to understand leadership traits and characteristics. Due to the constantly evolving economy, companies are aiming to adopt a more elastic strategic management configuration so as to assist the maximization of the employee satisfaction and to get rid of any inflexibility in the organizational structures that obstruct communication. Project-based (or task-based) organizational compositions (PBO) facilitate the companies to be more elastic as this employee structure comprises of transitory project teams and responsibilities which are softened after the necessary aims have been attained (DeFillippi & Arthur.1998: Hobday, 2000; Turner & Keegan, 2001).

The term strategic planning refers to a coordinated and systematic process for developing a plan for the overall direction of your endeavor for the purpose of optimizing future potential. For a profit-making business, this process involves many questions:

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October Book/Article 1. John Ward and Joe Peppard, Strategic Planning for Information Systems, Third Edition , John Wiley & Sons, 2002, Chapters 4-6 2. Henderson and Venkatraman, Strategic alignment :Leveraging information technology for transforming organisations, IBM Systems Journal, Vol.36, Nos. 2&3, 1999 3. Claudio Ciborra, De Profundis? Deconstructing the concept of strategic alignment, Scandinavian Journal of information systems, Vol. 9, No. 1, 1997. 4. Michael Earl, Experiences in strategic information systems planning, MIS Quarterly, Vol. 17, No. 1, 1993 A Strategy formulation contra strategy realisation, which is the most important and how should they

Portfolio analysis is a technique, similar in some respects to capital budgeting but usually at the business rather than project level, used to examine the relative value of the various businesses, subsidiaries, or other units within a company, and to determine if a balanced "mix" has been achieved. This helps corporate-level planners reach a better understanding of the competitive position of the overall portfolio of businesses, to suggest strategic alternatives for the businesses, to understand the value of acquiring new businesses, and, overall, to develop priorities for resource allocation. Often, this is done through use of portfolio matrices, a set of graphic displays that help managers visualize the portfolio along two dimensions: usually an external dimension related to the overall attractiveness of the industry, and an internal one that relates to the strength of the business within that industry.

What lead to the success of Galanz company? Please analyse the company form the perspectives of competitive strategy and operations strategy?

Strategic marketing planning was formally introduced in 1950s with its all reviving attributes. The big organisations helped to grown the strategic planning orderly, it called comprehensive structure, later it adopted by numerous big and small organisations, George A. Steiner describes in his book “Strategic Planning”.

We must continue to grow responsibly- protecting our natural resources and practicing sustainability in all its form and improve the communities where we live and work through our financial and volunteer efforts.

The business I’m going to talk about it’s a car showroom we sell used cars. The name of the organisation is Rosamond Street Car Experts. We are running this business for last 2 years. In the present time most of the rich persons and the famous personalities are really fond of buying new and sports cars they buy new cars after sometime their taste get changed then they buy new one and those used cars they never use after that. So we buy those used cars and sell on genuine price to the customers including 3 years warranty. We always try to make our customers happy. The best thing is that the location of this showroom is near the Highpoint shopping centre. It is very crowded and famous place. On the weekend most of the people they come and have a look on these cars. If they indeed like then they definitely buy. Instead of warranty we provide first two services free of cost. For running a successful business we have to make a strong strategic plan, with the help of these plans we can create good image in front of the customers. For making the new strategic plan we take the help of experts and professionals because they have been working in this industry for a long time they know very well what sort of strategic plan we really need in our business.