Strategic Planning Process Essay

6903 Words28 Pages
Contents 1.0 INTRODUCTION 2 1.1 Abstract 2 2.0 DEFINITION OF TERMS 2 2.1 Plan 2 2.2 Business 3 2.3 Strategy 3 2.4 Strategic plan 3 3.0 COMPONENTS OF STRATEGIC PLAN AND THEIR IMPORTANCE 4 3.1 VISION STATEMENT 4 3.1.1 IMPORTANCE OF VISION STATEMENT 4 3.2 MISSION STATEMENT 5 3.2.1 IMPORTANCE OF MISSION STATEMENT TO SUCCESS OF BUSINESS 5 3.3 VALUE STATEMENT 6 3.4 STRATEGIC GOALS 6 3.5 THE PROGRAMS 7 3.6 INDICATORS 7 3.7 BENCHMARKING 7 3.7.1 IMPORTANCE OF BENCHMARKING TO THE SUCCESS OF A BUSINESS 7 3.8 OBJECTIVE 8 3. 8. 1 IMPORTANCE OF OBJECTIVES TO THE SUCCESS OF A BUSINESS 8 4. 0 ENVIRONMENTAL SCANNING 9 4.1 INTERNAL ENVIRONMENTAL ANALYSIS 10 4.1.1STRUCTURE 10 4.1.2 CULTURE 10 4.1.3 RESOURCES 11 4.1.4 IMPORTANCE OF INTERNAL ENVIRONMENTAL ANALYSIS TO THE PERFORMANCE OF A BUSINESS 11 4.2 EXTERNAL ENVIRONMENTAL ANALYSIS 11 4.2.1Task environment 11 4.2.3 SOCIETAL ENVIRONMENT 12 4.2.4 IMPORTANCE OF EXTERNAL ENVIRONMENTAL ANALYSIS TO THE PERFORMANCE OF A BUSINESS 12 5.0 SWOT ANALYSIS 14 5.1 IMPORTANCE OF SWOT ANALYSIS TO SUCCESS OF BUSINESS 16 6.0 STRATEGIC OBJECTIVES 16 6.1 IMPORTANCE OF STRATEGIC OBJECTIVES TO SUCCESS OF BUSINESS 17 7.0 CORPORATE STRATEGIES 18 7.1 STABILITY STRATEGIES 18 7.1.1 NO-CHANGE STABILITY 18 7.1.2 PROFIT STABILITY STRATEGY 19 7.1.3 PAUSE STABILITY STRATEGY 19 7.2 GROWTH STRATEGIES 19 7.2.1CONCENTRATION 19 7.2.2 DIVERSIFICATION 20 7.3 RETRENCHMENT STRATEGIES 20 7.3.1 TURN AROUND STRATEGY 20 7.3.2 DIVESTMENT STRATEGY 20 7.3.3 CAPTIVE COMPANY STRATEGY 20 7.3.4 LIQUIDATION STRATEGY 20 8.0 ACTION PLAN 21 8.1 IMPORTANCE OF ACTION PLAN TO THE SUCCESS OF A BUSINESS. 22 9.0 FINANCIAL PLAN 22 9.1 IMPORTANCE OF FINANCIAL PLAN TO SUCCESS OF A BUSINESS 23
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