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Strategic Planning

Strategic Planning. “A strategy is a pattern or plan that integrates an organization’s major goals, policies, and action sequences into a cohesive whole.” James Quinn.

dustin-hardy
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Strategic Planning

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  1. Strategic Planning “A strategy is a pattern or plan that integrates an organization’s major goals, policies, and action sequences into a cohesive whole.”James Quinn Strategic planning is a process to provide direction and meaning to day-to-day activities. It examines an organization's values, current status, and environment, and relates those factors to the organization's desired future state, usually expressed in five- to ten-year time periods.

  2. Why Do It? • In the simplest terms, a strategic plan can help improve performance. • Its purpose is to help the institution capitalize on its strengths while minimizing its weaknesses, and to take advantage of opportunities and defend against threats. • In long-range planning, goals and projections are based on the assumption of organizational stability, while in strategic planning, the role of the organization is examined within the context of its environment.

  3. Before Implementation The question of whether or not to develop a strategic plan may be based on answers to the following questions: • What purpose will the strategic plan serve? • How will it help the organization? • Will it be better than the system we use now? • Are those in leadership positions committed to strategic planning? • How much will it cost in terms of time and personnel effort? • Who should be on the planning team? • Does anyone have experience with strategic planning? • Do we think we can do it? • Are we willing to make decisions about our future? • Will we actually use the plan? • What overriding crises would inhibit our ability to plan?

  4. What Does It Involve? 1.Assessing the external environment. 2. Assessing internal capacity.3. Developing a vision or mission for the future.4. Developing goals and objectives to reach that future.5. Implementing the plan. 6. Measuring progress and revising the plan.

  5. Strategic Planning Process Reason for existence Future intent Attitudes and policies Mission Vision Guiding Principles Environmental assessment Capabilities and risks Broad statements of direction Strategies Strategic Objectives Things to change or improve Action Plans Implementation

  6. Step 1. Assessing the external environment. Define Opportunities and Threats(they come from external environment) External environmental dimensions • General environment – Indirect effect on firms • Economic, technological, political, legal, social, demographic environment, etc. • Industry environment – Direct effect on firms • Competitors, suppliers, customers, labor union, shareholders, etc. Typical questions posed during an external assessment include: • What is my community like today? • Are the demographics changing? How? • What are the implications of today's trends for the future of my community? • What other agencies currently serve my community? • What services do they provide? To whom? • What needs exist today? • What needs are anticipated for tomorrow?

  7. Step 2. Assessing internal capacity. Define Strengths and Weaknesses Reference questions: • What purpose do we serve? • What do we believe in? • What resources are available to us? • What internal issues must be addressed? • How do we interact with the community? • Whom do we serve? • What needs do we meet?

  8. Step 3. VISION • What the organization will be like in the future. • Brief and memorable - grab attention • Inspiring, exciting and challenging - creates excitement • Descriptive of an ideal state - provides guidance • Appealing to all stakeholders - employees can identify with • Compaq computer: To be leading supplier of PCs and PC servers in all customer segment. • KODAK: To be the world’s best in chemical and electronic imaging.

  9. Vision (continue) Questions for defining future: • How will our organization look in the future? • What will our community be like five or ten years from now? • What role will we play? • What needs will exist? • What resources will be available? • Who will we serve? • How will we serve them?

  10. Step 4. MISSION • Who are we? What we do? Why we exist? What our business is ? • What is the company trying to accomplish for its customer? Mission provides guidelines of how a firm will achieve its strategic vision. • The factors to consider: • Customer groups (who is being satisfied) • Customer needs (what is being satisfied) • Technology or skills ( how customer needs are satisfied) Olis Elevator: Our mission is to provide any customer a means of moving people and things up, down and sideways over short distances with higher reliability than any similar enterprise in the world.

  11. Step 5. GOALSAND OBJECTIVES Goals give answer to the question of WHAT to do for reaching desired MISSION. Mission: To provide user-friendly, cost effective campus-wide access to statistical data for faculty, staff and student research purposes. Goals: • Identify and acquire file server to support campus-wide access. • Identify and acquire software to support campus-wide access. • Design menu structure to support system.

  12. Objectives Objectives gives answer to the questions of • WHO will be responsible, XYZ team • WHEN it will be completed, till 2006 Jan • WHERE and, Campus office • HOW it will be done. Using required tech’s.

  13. Step 5 & 6 Step 5. Implementing the plan. Step 6. Evaluating progress and revising plans.

  14. Strategic Planning Strength Weakness Opportunities Threats Strengths Internal Assisment SWOT) Weakness MISSION Culture and Values VISION GOALS OBJECTIVES Opportunities External Assistment (SWOT) Threats

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