From this topic you will develop the ideas for formulating an effective strategic plan. If you already have a strategic plan in your organisation that you can study, you will be able to analyse its purpose and presentation, and identify its strengths and weaknesses. Where such a plan does not exist you will have acquired the knowledge for developing a strategic plan for your organisation.
As we develop the concepts of strategic planning you will recognise the value and importance of the overall strategy planning process.
The primary aims are to:
- Define the organisations purpose.
- Analyse the current effectiveness of the organisation.
- Establish effective goals and objectives which are measurable and clearly set the direction for the organisation.
- Determine the changes required to the organisation in terms of the culture, resources, structures, and training in order to satisfy the particular internal and external environments that exist.
As an outcome of completing this topic you will be able to:
- Explain the strategic planning process.
- Determine the significance and value of strategic planning to your organisation.
- Effectively analyse the internal and external environments identifying opportunities, strengths, weaknesses and threats.
- Develop appropriate strategic objectives for your organisation
- Demonstrate how strategies can be derived from strategic objectives and a ‘Strength Weaknesses Opportunities and Threats (SWOT) analysis.