Strategic Planning Process

Anonymous
timer Asked: Jul 3rd, 2019
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Question Description

In a four- to five-page paper (excluding the title and references pages), discuss the strategic planning process. In your paper:

  • Explain the basic steps in the planning process.
  • Describe the steps in the decision-making process, and predict how the personal attributes of the manager influence decision making.
  • Predict how the steps of the strategic planning process and the environmental factors that influence decision making impact the quality-productivity-profitability link.
Your paper must include in-text citations and references from at least three scholarly sources, in addition to the text, and be formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.).

Tutor Answer

shellyt
School: UIUC

Attached.

Strategic planning outline
Introduction


Overview of strategic planning

Strategic planning process


Getting ready



Articulation of corporate mission and vision



Situation assessment



Developing strategies



Writing a plan

Decision making process


Establishing requirement for a decision



Generating alternatives



Evaluating alternatives



Selecting an alternative



Implementing an alternative



Evaluating effectiveness of the decision

Personal attributes affecting decision making process


Past experiences



Cognitive biases



Belief



Socioeconomic status



Age

Quality-productivity-profitability link


Strategic planning process



Environmental factors affecting decision making process

Conclusion
References
Bierman, L., Ferrell, O., & Ferrell, E. (2014). Management: Principles and Application.
Academic Media Solutions. Retrieved from
https://media.thuze.com/MediaService/MediaService.svc/constellation/book
/Bierman.1318.16.1/Bierman.1318.16.1.epub?download=true
Haines, S. (2016). The systems thinking approach to strategic planning and management.
CRC Press.
Morden, T. (2016). Principles of strategic management. Routledge.
Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic
management and business policy (p. 55). Boston: pearson.


Running head: STRATEGIC PLANNING

1

Strategic planning
Name
Institutional Affiliation

STRATEGIC PLANNING

2

Strategic planning
Strategic planning is an indispensable part of strategic management. It involves the
development of viable connections among an organization’s resources, environmental
conditions, and objectives by using a specific approach. It is, therefore, a strategic management
activity used to set the organization’s priority, ensure stakeholders are working towards a
common objective, strengthen a firm’s operations, and align the organization’s strategy with
changing the environment. Today, the success of an organization depends on its ability to
respond to the globalization and constantly changing environment in order to meet its business
needs. To achieve this, organizations need a strategic plan that strengthens its vision and mission.
A strategic plan is an organization’s roadmap that communicates an organization’s goals, tactical
plan, and business strategy designed during the planning exercise. A well-designed strategic plan
is a core component for organization success since it gives the management an opportunity to
measure the firm’s success rudimentary to long-term, operational, and tactical goals. Corporate
vision and mission guide the organizatio...

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Review

Anonymous
Excellent job

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