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  • Strategic Planning and Formulation Techniques for Businesses

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    Pawan Deep Singh
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    This document outlines the key components of strategic planning and formulation for an organization. It discusses establishing a mission and vision, conducting environmental scans using tools like SWOT and Porter's Five Forces, determining goals and objectives, selecting strategies at the corporate and business unit levels, and implementing strategies. It also covers evaluating performance, managing cultural conflicts, and ensuring strategic control through indicators and benchmarks. The overall process involves assessing opportunities and threats, choosing strategies, implementing plans, and monitoring results.

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    stretegic management review

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    This document outlines the key components of strategic planning and formulation for an organization. It discusses establishing a mission and vision, conducting environmental scans using tools like SWOT and Porter's Five Forces, determining goals and objectives, selecting strategies at the corporate and business unit levels, and implementing strategies. It also covers evaluating performance, managing cultural conflicts, and ensuring strategic control through indicators and benchmarks. The overall process involves assessing opportunities and threats, choosing strategies, implementing plans, and monitoring results.

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    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    14 views3 pages

    Strategic Planning and Formulation Techniques for Businesses

    Uploaded by

    Pawan Deep Singh
    This document outlines the key components of strategic planning and formulation for an organization. It discusses establishing a mission and vision, conducting environmental scans using tools like SWOT and Porter's Five Forces, determining goals and objectives, selecting strategies at the corporate and business unit levels, and implementing strategies. It also covers evaluating performance, managing cultural conflicts, and ensuring strategic control through indicators and benchmarks. The overall process involves assessing opportunities and threats, choosing strategies, implementing plans, and monitoring results.

    Copyright:

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    of 3

    SMP

    Strategic planning + formulation

    - Corporate governance/ board of directors


    - Mission versus vision statement
    o Stakeholders vs stockholder vs stateholders
    - Goals and objectives
    - Macro environment scanning (pest plus )
    - SWOT - TOWS - select strategies
    - Porters five plus forces
    - Industry life cycle and product life cycle ( BCG Matrix, GE 9 Grid Matrix)

    SBUs (strategic business units)

    (Divisional structure)

    Strategic level (Corporate level)

    - Growth, stability, retrenchment ( cut back on operations)


    o Vertical integration, diversification
     (Related) concentrate
     (Non related) conglomerate
    - Restructuring, reengeering (detailed and transparence)
    (organization structure,
    Downsizing , rightsizing)
    - Foreign entry modes
    o Exporting
    o Franchising
    o Outsourcing
    o Joint venture
    o Turnkey
    o FDI
    o Management contract
    Business level

    How do we compete?
    Porters competitive strategies plus more

    Strategic implementation

    - Issues involved?
    - Leadership?
    - Corporate culture?

    Motivating
    Policies, budgets, programs
    Innovation
    HRM
    Production management, etc (porters value chain, functional level), efficiency supply
    chain

    Evaluation and control

    - Control indicators ( behavioral, input, output)


    - ISO series
    - Balance score card
    - Bench marking
    Corporate culture conflicts--- ---professional cultural conflicts
    Manage cultural conflicts

    Cultural competence

    Organizational cultural conflicts--- ---national cultural conflicts

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