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Strategic Planing Essay

2153 words - 9 pages

Planning is the process of outlining the activities that are necessary to achieve the goals of the organization. Planning is important to the organization because it ensures that the organization is running their activities in both an effective and efficient way. Planning help managers to determine how organizational resources are to be allocated and how the activities of the organization will be assigned to individuals and work groups. Planning gives guidance and direction to the members of the organization.Strategic planning is a process by which an organization makes decisions and takes actions that affect it s long-run performance. Strategic planning also focuses on enhancing the ...view middle of the document...

The objective of the corporate strategy is to develop a mix of business units that meets the long-term growth and profitability goals of the organization The corporate strategy describes the nature of the organization that is why it is formulated by the organization's board of directors and top-level executives. The top-level management see the corporate planning as a process consisting of the following components·Setting strategic objectives that define the desirable corporate aims to be achieved·Selecting the best tactical mechanisms through which the strategic objectives are to be optimized.·Developing operational plans that ensure the best use of the organizational resources within the desired time frame.·Structuring the management process that provides for the most effective decision-making and execution.·Developing the communications systems, including the formalized management information that provides necessary support to the management process.·Defining the operational tasks and associated staffing requirements.The nature of the corporate planning process is dynamic, governed by continuing changes in the environment within which the corporate entity operates. An important support to corporate planning therefore is monitoring the corporate environment. Such monitoring facilitates the continuous updating of corporate plans in response to changes in the environment.Business strategic planning produce a business strategy, which defines how each business unit in the organization's corporate portfolio, will operate in its market arena. The strategy that is formulated at this level concentrate on the question how do we compete in our existing lines of business? The main focus of strategic planning at the business level is to develop and maintain a distinct competitive advantage that will lead to organizational success. The individual who are most familiar with the operations of the business unit formulates business strategic planning. Unlike corporate strategic planning the board of directors and corporate executives are typically are not involved in the strategy formation.The last level within the organization is the Functional Strategic Planning, which identifies the production, research and development, financial, human resource management, and marketing activities necessary to implement the organization's corporate and business strategies. The strategy helps to answer the question "how do we implement our corporate and business strategies?". An example of the functional strategies necessary to implement Kraft business-level strategy to penetrate the energy/ nutrition food segment. The addition of newly acquired or developed products in this category will affect multiple departments within the company. The production department will have to prepare to manufacture the new products; the marketing department must develop appropriate pricing, promotion, and advertising plans; and the sales department...

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