Purposes and Benefits of Strategic Planning Essay

Purposes and Benefits of Strategic Planning - taste ExampleAnother purpose is that it doesnt eitherow the firm to get distracted by the prevailing conditions whether respectable or bad, it is a job of Manager who has done strategical planning of the firm to ensure that all the necessary activities atomic number 18 carried out in a planned way so that no stop occurs.Strategic objectives are normally ones to be achieved over the medium to long term. They may be monetary such as a certain increase in earnings per share or non financial such as a percentage increase in market share. In theory they should be capable of being quantifiable and hence susceptible to measurement (p. 11)In military control strategy involves forming a path for the organization to follow that allow lead to products or services that customer will want. This will usually mean some kind of new de surgical incisionure for the business, requiring the leader to implement various manoeuvre or sub-strategies. These tactics are usually set out in the component parts of the business plan (Hoddler, Stoughton, 2003 20).The strategic planning process consists of two phases, the first one is strategy formulation level, and the minute one is strategy implementation stage, in the first phase we have to identify mission and strategic goals of business, of course when someone wouldnt know where someone is going, how could someone will get courage of moving forward, the foster thing we have to care about is conducting competitive analysis, here we have to analyze the companys strengths, weaknesses, opportunities and threats (SWOT Analysis), than the last part of first phase appears in which there is a need of developing particular strategies, the three of them are corporate, business and functional levels of strategies. In the corporate level of strategy, which tells about what businesses the organization will operate and how resources would be allocated, the uphold one is business level strat egy that tries to define the best means of competing within a business, it also supports the corporate level strategy, the third one is the functional level strategy which focuses on the particular action plans for managing a specific functional area within a business, it supports the business level strategy. The second phase of planning process is strategy implementation stage in which all that is planned antecedently is implemented on actual situations, it means exactly to evaluate the plans and control afterwards where required.Difference mingled with Strategic and short- term planningAs mentioned earlier, the Strategic Planning is a long term planning, it consists of period that is longer than one year, more formally such planning is done while considering all the erstwhile(prenominal) records and resources that the company or organization has, the strategic planning is basically coping with the companys strategy Formulation stage in which the company has more concerns on it s mission and goal statement, its SWOT analysis and other specific