Question: Respond to the following using synthesizing: In chapter 1 , we discussed strategic planning. Strategic planning is an activity that is adopted by organizational management
Respond to the following using synthesizing:
In chapter we discussed strategic planning. Strategic planning is an activity that is adopted by organizational management that is used to set priorities, identify resources, strengthen operations, to make certain that employees and stakeholders work together to achieve the same goals, and adjust the direction of the organization when and if then organization's environment changes. We also discussed the five steps to the formal strategic planning process. These steps are:
Select the corporate mission and major corporate goals.Analyze the organization's external competitive environment to identify opportunities and threats.Analyze the organization's internal operating environment to identify the organization's strengths and weaknesses.Select strategies that build on the organization's strengths and correct its weaknesses in order to take advantage of external opportunities and counter external threats. These strategies should be consistent with the mission and major goals of the organization. They should be congruent and constitute a viable business model.Implement the strategies.
Strategic planning is very important to ensure that a company or organization is creating analytical and actionable plans. Let's think about an organization or business where you currently work. For those of you that do not currently work, think about a previous job you have had or an organization that you were apart of
If you were in charge of strategic planning for your organization, what changes would you make? Explain why you would make those changes.
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