STRATEGIC PLANNING PROCESS

-Purpose or reason for the organization exist

- Should be in writing and formal statement

- Every mission should describe 3 primary aspects of the organization : - Target markets (who) ,Its primary products and services(what), How to satisfy customers in the target markets

External and internal factors that can affect management plan and decision such as changes in technology, economy, political and sociocultural.
-industry and competitor
-particular situation
-competitive advantage

Conduct analyzing using SWOT analysis, it used to assess strengths and weaknesses
-it provides a general overview of an organization’s strategic situation.
-managers are prepared to identified and assess the strategic alternatives

• Goals- General targets to be accomplished
• Objectives – State what is to be accomplished in specific and measurable terms by a certain date.

Compare current strategy against current information
-Formulate new strategic if needed
-Strategies such as new product development, new
market development etc
-Develop policies, procedures, programs to accompany
new strategy

• It’s to ensure the organization’s mission and objectives are achieved
• Successful implementation will deliver excellent end result
• Controlling is an establish mechanism to ensure that objectives are achieved in a timely and cost-efficient manner and takes corrective action when needed.