11. Strategy Planning Process

Question 1

What is the role of strategic planning?

Answer 1

Formulating strategy learning integration and communicating intended strategy and providing strategic milestones.

Question 2

What are the benefits of planning?

Answer 2

Opportunities for involvement leads to a sense of ownership provides security to managers re-assures managers and stakeholders that the strategy is ‘logical’.

Question 3

What are the dangers associated with planning?

Answer 3

Confusing managing strategy with planning detachment from reality paralysis by analysis over-complex planning processes and dampening of innovation.

Question 4

What elements should a strategic plan include?

Answer 4

Mission goals and objectives statement environmental analysis capability analysis proposed strategy resources required required changes in structures systems and culture.

Question 5

What is involved in the strategic planning process?

Answer 5

Strategic planning involves formulating the strategy, learning, integration and communicating. The process runs at business and corporate level and has to be interlinked. A strategic plan provides the data and argument in support of a strategy.

Question 6

What are the key takeaways for strategic planning?

Answer 6

Strategic planning involves formulating the strategy learning integration and communicating. A strategic plan should include mission goals and objectives statement environmental analysis capability analysis description of strategy resources required and required changes in structures systems and culture.