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Your step-by-step guide — add strategic plan byline
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- Open the document and make edits using the Tools menu.
- Drag & drop fillable fields, add text and sign it.
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- Use Advanced Options to limit access to the record and set an expiration date.
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Add Strategic Plan byline
hi there let's spend a few minutes taking a look at an overview of the strategic planning process in a business how a business comes up with its strategy now don't forget as a level business students you just need to have an awareness of the main features and benefits of strategic planning there's a whole industry out there a global industry of consultants and models and firms and people who help businesses do this you just need to have an awareness and the first part of that awareness is to understand that strategic planning is very long term in nature and it is focused on the business as a whole the direction and the strategy of the whole business not just business units or the different functional areas this is the business as a whole and it really aims to provide answers to questions around business strategy which boiled down come to these where do we want to go to you know where does a business want to get to how does it get there and once that journey has begun how is it doing how is the business performing against its strategic objectives the strategic planning process has a number typically has a number of stages and it starts with setting the corporate or business objectives these are influenced by what the mission is the purpose of the business having set the objectives the targets the strategic planning process then tries to work out how to achieve the objectives what resources does it need what's the timetable that in turn leads to an action plan to help implement the plan and off you go and then a key part of the process is then to monitor performance against the plan to evaluate the results comparing actual results against the objectives and to feed that back into the plan to see what changes are required so see strategic planning as a process that the business goes through well clearly if done effectively strategic planning provides some potential benefits to a business and i've listed four of the main benefits of strategic planning on the slide there you may want to pause the video and add those down to your notes really strategic planning is all about giving us the business a sense of direction and a means by which you can achieve its objectives objectives so clearly setting direction is going to be motivating for management as well as employees hopefully if the plan is well thought through it leads to an efficient selection of and use of the resources available to the business and crucially it gives away not just of measuring progress of course that's important but also helping management make decisions because decisions should be consistent with the objectives of the strategy before we finish just a quick word on some of the potential models that can be used to help a business undertake strategic planning you may be aware of some of these i'll just...
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