Suppose we know that all organization has always strategic planning were process to establish priorities on what you will accomplish in the future. Forces you to make choices on what you will do and what you will not do. Pulls the entire organization together around a single game plan for execution. Broad outline on where resources will get allocated. If you fail to plan, then you plan to fail – be proactive about the future
. Strategic planning improves performance. We counter excessive inward and short-term thinking and to solve major. Communicate to everyone what is most important.
Address critical performance issues. Create the right balance between what the organization is capable of doing vs. what the organization would like to do. Cover a sufficient time period to close the performance gap. Visionary convey a desired future end state. Flexible allow and accommodate change. Guide decision making at lower levels – operational, tactical, and individual.
Strength’s – Those things that you do well, the high value or performance points.
• Strengths can be intangible: Good leadership, strategic insights, customer intelligence, solid reputation, high skilled workforce
• Often considered “Core Competencies” – Best leverage points for growth without draining your resources.
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Weaknesses – Those things that prevent you from doing what you really need to do
• Since weaknesses are internal, they are within your control
• Weaknesses include: Bad leadership, unskilled workforce, insufficient resources, poor product quality, slow distribution and delivery channels, outdated technologies, lack of planning,
Opportunities – Potential areas for growth and higher performance
External in nature – marketplace, unhappy customers with competitor’s, better economic conditions, more open trading policies, .
• Internal opportunities should be classified as Strength’s.
• Timing may be important for capitalizing on opportunities.
Threats – Challenges confronting the organization, external in nature. Threats can take a wide range – bad press coverage, shifts in consumer behavior, substitute
products, new regulations, . . .
• May be useful to classify or assign probabilities to threats
• The more accurate you are in identifying threats, the better position you are for dealing with the “sudden ripples” of change.
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