What Is Strategic Planning?
Strategic planning is the process of developing a formal strategy for long-term survival and development. The process usually involves identifying the company's purpose and setting goals for strategic, long-term, and annual plans. Some companies have no formal plans, and many are not good at using plans. However, formal plans do provide a lot of convenience. It encourages management to systematically consider and formulate more realistic goals and policies, better coordinate work, and provide a clearer code of conduct. [1]
Strategic Plan
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- Chinese name
- Strategic Plan
- Foreign name
- Strategic Plan
- Strategic planning is the process of developing a formal strategy for long-term survival and development. The process usually involves identifying the company's purpose and setting goals for strategic, long-term, and annual plans. Some companies have no formal plans, and many are not good at using plans. However, formal plans do provide a lot of convenience. It encourages management to systematically consider and formulate more realistic goals and policies, better coordinate work, and provide a clearer code of conduct. [1]
- A strategic plan, also known as a long-term plan, is a broad-based plan formulated to achieve the organization's long-term goals. It is usually a three-year or five-year development plan. [2]
- The process of presenting the strategic plan: Proposing the company's strategic outlook and organizational mission, establishing the company's target system, and formulating the company's strategy are the tasks that fundamentally establish the company's development direction. These work of the company determine the company's whereabouts, the company's long-term and short-term operating performance goals, as well as the competitive actions and internal business methods used to achieve the set goals. In short, all of this actually establishes the company's strategic plan. In some companies, especially those that regularly evaluate strategies and develop clear strategic plans, strategic plans are often clearly expressed in the form of documents and distributed to company-wide managers and employees. In some companies, the strategy often does not appeal to words and is not widely distributed, but exists verbally among the company's managers, as long as the company's managers pay attention to and make the due commitments on : The company's development direction, the company's development goals, and the company's operating methods.
- The organization's goal system is usually the part of the strategy that is clearly expressed and communicates extensively with the company's managers and employees. Some companies clearly write the key elements of the strategic plan in the company's annual report submitted to shareholders or in the materials department to the news media, while others often intentionally avoid the company's strategy because of the sensitivity to competition Open discussion.
- However, strategic plans rarely anticipate all strategically significant events that occur in later years. Unforeseen events, unforeseen opportunities and threats, and a variety of helpful suggestions that are constantly emerging will often prompt the company's managers to change planned actions and respond to things not in the plan. Postponing the re-development of the strategy to the next year of strategic planning is not only foolish but unnecessary at all. If the company's managers narrowly define the company's strategic work as a planned period with a fixed schedule, then their responsibility for the company's managers' strategy formulation is a complete misunderstanding. "Having" the annual strategy formulation under the circumstances does not guarantee management success.