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Essay / Research Paper Abstract
A 3 page paper that discusses the processes and steps in strategic planning and strategic management. Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: ME12_PG689845.rtf
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into account different aspects of the external environment, such as politics and technology. It focuses on achieving a good fit between the organization and its environment. It is a process
that is continuous and ongoing. Nickols (2011) writes that strategic planning includes confirming or updating the organizations mission as well as its basic strategy for operating, setting goals and objectives,
developing plans to achieve goals and objectives, allocating resources based on priorities, communicating the mission and the organizational strategies, monitoring progress and adjusting and reassessing the components of the plan.
The organizations Mission Statement explains why the organization exists (SLA, 2001). It is generally a broad statement. Objectives are statements about what the organization intends to achieve and may
be financial or non-financial (Nickols, 2011). Objectives are specific and measurable and address different aspects of the organization. Goals may be short-term and long-term (Nickols, 2011; SLA, 2001). Strategic plans
are intended to address the far future and therefore, include long-term goals, even as far out as ten years. Long-term goals may be written first with short-term goals being steps
towards the achievement of the longer-term goals (SLA, 2001). The action plan or implementation plan explains how each of the goals are to be achieved. What steps will be taken.
Who will do what and when will they do it. The action/implementation plan includes processes and procedures for measuring success. Strategic planners may also want to conduct different analyses
of the organization and the environment. An external analysis would consider the social, economic, political and technical environment in terms of driving forces (McNamara, 2011). An internal environment analysis could
be accomplished with a SWOT, which involves looking at strengths, weaknesses, opportunities and threats (McNamara, 2011). Strategic planning is part of the strategic management process. In fact, these two terms
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