Quick Answer: What Are The Seven Steps In The Strategic Planning Process?

What are the 7 stages of the strategic planning process?

Step 1 – Review or develop Vision & Mission.

Step 2 – Business and operation analysis (SWOT Analysis etc) …

Step 3 – Develop and Select Strategic Options.

Step 4 – Establish Strategic Objectives.

Step 5 – Strategy Execution Plan.

Step 6 – Establish Resource Allocation.

Step 7 – Execution Review..

What is basic strategic planning?

Basic strategic planning typically consists of creating a mission statement that describes why a business or organization exists. Next, choose your business’ intermediate goals pertaining to what needs to be accomplished first to meet your mission.

What is the relationship between strategy and strategic intent?

Whereas the traditional view of strategy focuses on the degree of fit between existing resources and current opportunities, strategic intent creates an extreme misfit between resources and ambitions.

What are the steps in the strategic planning process?

The 5 Steps of the Strategic Planning ProcessDetermine your strategic position.Prioritize your objectives.Develop a strategic plan.Execute and manage your plan.Review and revise the plan.

What are the 6 steps in the strategic planning process?

What Is A Strategic Plan? 6 Essential StepsIdentify your core mission.Have a future-focused vision statement.Identify priorities.Build a communication or rollout plan.Hold people accountable.Review, review, review.

What is the first step in the planning process?

Establishing Objectives: Establishing the objectives is the first step in planning. Plans are prepared with a view to achieve certain goals. Hence, establishing the objectives is an important step in the process of planning. Plans should reflect the enterprise’s objectives.

What are the three types of strategic planning?

Real-time strategic planning involves three levels of strategy: organizational, programmatic, and operational. For the first level, you’ll define the organization’s mission, vision, market position, competitors, trends, etc.

What are the three steps in the planning process?

The planning processing has three essential steps – Determining missions and goals, Formulating the strategy, and finally Implementing the strategy.

What is the meaning of strategic intent?

Strategic intent is the term used to describe the aspirational plans, overarching purpose or intended direction of travel needed to reach an organisational vision. Beneficial change results from the strategic intent, ambitions and needs of an organisation.

What are the strategic planning models?

Models of strategic planning process1 – Basic strategic planning process model. … 2 – Issue-based strategic planning model. … 3 – Alignment strategic model. … 4 – Scenario strategic planning. … 5 – Organic strategic planning model.

What are the 5 Ps of strategy?

He calls them the 5 P’s of Strategy. They stand for Plan, Pattern, Position, Perspective and Ploy. These five components allow an organisation to implement a more effective strategy. A strategy is aimed at the future, concerns the long term and involves different facets of an organisation.

What makes a good strategic plan?

A strategic plan consists of five key components: a vision statement, a mission statement, goals and objectives, an action plan, and details on how often the strategic plan will be reviewed and updated. … When you’re creating goals and objectives for your business, make sure they’re realistic and measurable.

What is Apple’s strategic intent?

Strategic Intent behind iPhone • Develops, sells, and supports a series of personal computers, portable media players, computer software, and computer hardware accessories. • Apple is the early mover in the product category and its strategy is to cash in on market before competition creeps in.

What are the 5 steps in the planning process?

The Planning Process: Five Essential StepsStep 1 – Establish Your Objectives. To navigate the road to retirement, you must first map out your destination. … Step 2 – Determine Your Investment Style. … Step 3 – Evaluate Investments. … Step 4 – Choose an Appropriate Investment Plan. … Step 5 – Execute and Periodically Examine the Plan.

What is the starting point of strategic intent?

Vision is the starting point of strategic intent. The fundamental purpose of strategic planning is to align a company’s mission with its vision.

What are the 4 types of planning?

The 4 Types of PlansOperational Planning. “Operational plans are about how things need to happen,” motivational leadership speaker Mack Story said at LinkedIn. … Strategic Planning. “Strategic plans are all about why things need to happen,” Story said. … Tactical Planning. … Contingency Planning.

What is a good planning process?

Good Planning requires time bound actions. Planning needs to be flexible, Planning is the beginning and not an end, the plans must have modification feature. Planning must result in decision making.

How do you write a strategic plan?

Draft a planExecutive summary. You want the reader to quickly grasp the mission of your company, its values, issues and goals and key strategies to reach goals. … Signature page. … Company description. … Mission, vision and value statements. … Strategic analysis. … Strategies and tactics. … Action plan. … Budget and operating plans.More items…