Phases Of Strategic Management

SEMINAR ON STRATEGIC PLANNING

Presenting By

Ashwini A, Chandargi ( M.Com-I Semister) Gogte college of commerce, Belgaum

CONTENT • • • • • •

Meaning of strategic planning Nature of strategic planning Limitations of strategic planning Importance of strategic planning Making strategic planning effective Steps in strategic planning

Meaning of Strategic Planning Strategic Planning is an organizations process of defining its strategy or direction and making decisions on allocation its resources to pursue this strategy. Various business analysis techniques can be used in strategic planning, including SWOT analysis and PEST analysis.

Nature of Strategic Planning • Beginning of the process of management • It is an intellectual process,requires managers to think. • Decision making integral part of planning • Planning is continuous process • Based on futurity • It is goal oriented • Planning involves choice

Limitations of strategic planning • • • • •

Rigidity Costly and time consuming Employee resistance Planning prevents innovations External limitations a] Difficult to predict b] Emergency situations

Importance of Strategic planning • • • • •

Minimizing risk and uncertainty Leads to success Focuses attention on the organizations goals Facilitates goals Facilitates decision making

Then 3 important questions raises 1) Where are we now? 2) Where do we need to be? 3) How will we close the GAP?

Making strategic planning effective • • • • • •

Proper planning Top management support Participation communication Integration Monitoring

Steps in strategic planning 1. 2. 3. 4. 5. 6. 7.

Establishing the objectives or set of goals to be achieved. Developing premises Deciding planning period Finding alternative courses of action Evaluating alternatives and selection Developing derivative plans Measuring and Controlling the progress.

Thank You