Strategic planning can-t get any easier!




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Strategic planning can-t get any easier!Strategic Planning Cant Get Any Easier!

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Building a strategic plan or engaging in strategic planning can make a difference, particularly when it has a long-term focus and is used as a management tool, rather than simply being an exercise in forms completion. Traditional strategic planning can be broken down into four sequential steps:

market research strategy formulation and planning strategy implementation results measurement and control

Market research to determine customer needs and identify future market trends is usually the initial step in strategic planning. Managers use the market research to define company mission, goals, and strategic plans for one, three, and five years. Company mission statements become refined by specifying financial, market share, and product mix goals. Implementation generally occurs through official directives and control systems that flow through divisions, departments, sections, and eventually to individuals. Each individual receive a set of objectives that, if achieved, allow the company to attain its mission and goals. Control systems focus on individual outputs or behaviors in the organization. Controlling outputs emphasizes results through management by objectives.