Strategic planning and management pdf

Strategic management tools and techniques and organizational. A sequence of developing plans that move from general to specific and intent to action would create several levels of planning, which could be illustrated in the. So, strategic planning is the overall planning that facilitates the good management of a process. Pdf this chapter on the strategic management and strategic planning process provide an insight on the basic knowledge on what is strategy and. For our purposes, we will define planning as the activity of preparing a plan and we will define a plan as. By working on a strategic plan together a team can. A strategic facility plan sfp is defined as a twotofive year facilities plan encompass. Strategic planning is the process of formulating a direction for an organization, while strategic management is the process of determining how this direction can be achieved. It provides you with the big picture of what you are doing and where you are going. This lesson will explain the four types of planning used by managers, including strategic, tactical, operational and contingency planning. Strategic planning process the planning phase of the strategic management plan process consists of establishing a set of general but clear strategic goals, that when attained through the follow on plan, achieve our mission.

Pdf strategic management and strategic planning process. Strategic planning gives you clarity about what you. According to david, 1 strategic planning is sometimes confused with strategy formulation, because strategic plan is constructed in this stage. An ms strategic planning process is conceptualized.

A strategy or general plan of action might be formulated for broad, longterm, corporate goals and objectives, for more specific business unit goals and objec. Strategy refers to a general plan of action for achieving ones goals and objectives. Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomesresults, and assess and adjust the organizations direction in response to a. Planning is an important aspect of strategic thinking and management. Managers need to create broad objectives and mission statements as well as look after the day to day running of the company. An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry. Strategic planning is a part of the firms strategic management process. Difference between strategic planning and strategic. Strategic planning and management are so consistently used together that they are often referred to simply as strategic management. Mba strategic management lecture notes pdf download mba 3rd.

This chapter on the strategic management and strategic planning process provide an insight on the basic knowledge on what is strategy and strategic management. May 26, 2017 the main difference between strategic planning and strategic management is that while strategic planning focuses on making optimal strategic decisions, strategic management is all about producing strategic results, new markets, new products, new technologies etc. Strategic management is adaptive and keeps an organization relevant. What is strategic management, and why is it important. Planning helps assure that an organization remains relevant and responsive to the needs of its. Strategic management is a broader term than strategy and is a process that includes top managements analysis of the environment in which the organization operates prior to formulat ing a strategy, as well as the plan for implementation and control of the strategy. Like the organic model, realtime strategic planning is a continuous process and works best for rapidly changing organizations that might not have the need for set, detailed, or traditional strategic planning. Strategic planning in universities is frequently positioned as vital for clarifying future directions. Planning is carried out at both the macro and micro level. King abstract planning for the information systems in an organization generally has not been closely related to the overall strategic planning processes through which the organization prepares for its future. Strategic planning frameworks and models smartsheet. Ltasks of strategic management lstrategic management is an ongoing process lwho performs the tasks of strategy lbenefits of managing strategically strategic management the art and science of formulating, implementing, and evaluating crossfunctional decisions that. It includes evaluating the firms internal and external situation, defining the business and developing a mission, translating the mission into strategic goals, and drafting the strategy or the. These suggestions derive from lessons learned during extensive work with client organizations in developing, deploying, and implementing strategic plans.

A strategic plan is an overall defined course of organizational action for a set period of time that guides daytoday decisionmaking and activity. Strategic planning takes you outside the daytoday activities of your organisation or project. Strategic planning and strategic management are both important for the organization as they help in formulating the goals to be achieved and help in a more concentrated approach towards the fulfillment of that goal. Strategic planning in an educational development centre. It results into financial benefits to the organizations in the form of increased profit even in the face of environmental threats. Terms, such as singleuse plans, continuing plans, policy. A handbook for implementation has been developed as a companion volume to a handbook for strategic planning department of the navy total quality leadership office publication no. Strategic management meaning and important concepts. Strategic planning defined strategic planning is a process of looking into the future and identifying trends and issues against which to align organizational priorities of the department or office. How do we explain some consistent growth and profitability of some businesses. Strategic planning for management information systems by. These strategic goals define the destination, changes the current organizational direction and the mind set of the personnel. Strategic planning for management information systems. Ifma, in its project management benchmarks survey 2002, defines the strategic facility plan.

This has been a guide that strategic planning vs strategic management is a retrospective planning process. Pdf corporate planning and strategic management pravin. Strategy, strategic management, strategic planning. The process of evaluation is concerned with assessment of the external and internal environments. The next steps are to complete the planning work, publish, deploy, implement, measure, and evaluate the plan. Could it be that there are strategists whose business executives are following and which have a significant impact on their performance relative to their competitors. Strategic planning in public organisations promotes timely decisions, enhances the management of limited resources in a more rational manner, improves service delivery and induces greater. Strategic management is defined as the process of evaluation, planning, and implementation designed to maintain or improve competitive advantage. This training contains general information only and deloitte is not, by means of this training session, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. Both strategic management and strategic planning terms mean the same. Realtime strategic planning often involves presenting lists to board members or management for further discussion.

A handbook for implementation continues this process, offering suggestions on these steps. Strategic planning basics balanced scorecard institute. Strategic management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization. Learn about the activities and choices required for effective implementation and evaluation of a strategic plan by studying the course strategic management implementing and evaluating strategy. Strategic management is a management field focusing on longterm planning and direction of the organization. Defining strategic management, planning outline l why strategic management. This is because, at the mba level, it is not sufficient to know about the subject it is necessary to be able to apply ideas in order to carry out strategic analysis of real problems. Strategic planning includes the first four strategic management tasks. Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives. Strategic planning is a disciplined process for making key decisions and agreeing on actions that will shape and guide what an organisation is, what it does, and why it does it. What is strategic management process steps, stages and phases.

A handbook for implementation lil foreword strategic management for senior leaders. Strategic planning edinburgh business school v using the course package it is widely accepted that strategic planning is extremely difficult to teach effectively. Planning is the part of management concerned with creating procedures, rules and guidelines for achieving a stated objective. Strategic planning vs strategic management which one is. Within the departments and offices, it means aligning a division, section, unit or team to a higherlevel strategy. In these dynamic times, this approach is more likely to succeed than assuming everything. Strategic management and planning free course online alison. Strategic management in an organization ensures that things do not happen randomly but according to preplanned, longterm plans. Planning is one of the four functions of management that allows a manager to develop and implement strategic action steps aimed at reaching an organizational goal. The distinction between strategic thinking, strategic management and strategic planning 45 strategy in actionquick strategic thinking in unfavourable circumstances45 strategy in actionsony the disruptive innovator 50 principles for the successful use of strategy 61 finding the right strategic mix of entrepreneurial creativity and. The difference is that the latter one is more used in the business world while the former is used in the academic environment.