Strategic business planning processes and principles of business

Total Quality Management focuses the organization's goals on a system of quality and meeting the needs of the customer. Strategic planning is a tool that helps to prioritize the efforts of the organization in the implementation of a Total Quality Management approach. Total Quality Management Total Quality Management is an approach an organization takes to improve quality and meet customer requirements by controlling processes. The production approach requires participation from everyone in the organization.

Strategic business planning processes and principles of business

Strategic Planning Principles A few key strategic planning principles will improve the development and implementation of corporate strategic plans.

Below I will outline a few of the planning principles I have found most useful.

Role of Strategic Thinking in Business Planning | Business Improvement Architects

Strategic planning principles - Accountability The first of the principles of strategic planning is that strategic planning is a managerial accountability inherent to top management roles. Strategic planning is central to top management stewardship of the organization entrusted to them.

Responsibility and accountability for strategic planning is not an optional extra; it is a responsibility that top managers may seek support and assistance with.

No matter how prestigious or how high their fees the strategy consultant is not accountable to the governing body for the strategic plan of the organization.

strategic business planning processes and principles of business

This does not rule out using external assistance for aspects of the strategic planning process. In many situations, it is very helpful to have an independent person facilitating the process.

However, the ownership of the plan content, which means the decisions and commitments to action, belongs to the CEO and other managers. Corporate strategic planning principle The second of the planning principles relates to the scope and level of the organization for strategic planning.

When I refer to strategic planning in this context, it means corporate strategic planning. This planning principle asserts that corporate strategic planning is concerned primarily with the performance of the organization as a corporate whole, and not with planning for functions or parts of the organization.

However, I believe it is the planning for improving the long run performance of the organization as a whole that is the essence of this second of the strategic planning principles, and not the naming of the process that is our concern.

For a fuller explanation of what we mean by corporate strategic planning go to - What is strategic planning? Tracking corporate performance Because strategic planning is planning for the long run risk adjusted performance of the organization as a whole, strategic planning requires performance metrics that track the progress of the organization as a corporate whole.

Another of our key planning principles, which follows on from this, is the secret to unlocking appropriate overall organizational performance metric.

This principle is to define the purpose of the organization in terms of delivering a clearly defined benefit to a level satisfactory to the intended beneficiaries of the organization. This is the way to define the fundamental purpose of the organization. This is the third of our strategic planning principles.

This is part of the larger and crucially important subject of corporate objectives. Strategic planning principles relating to decision making In light of the two previous planning principles regarding corporate performance measurement and clarifying organizational purpose, we can say that corporate strategic planning involves deciding on strategies that have a high probability of achieving satisfactory performance at a very low risk of organizational failure.

Therefore, we see risk management as inherent in the strategy making process. Corporate strategic planning almost always requires that top managers make hard choices from among many apparently desirable options. The desirable opportunities available to many organizations appear almost without limit, and they seem to present themselves very frequently.

strategic business planning processes and principles of business

These other choices may be the making of hard decisions about what not to do as well as what to do. We regard this as another of our planning principles. Strategic decisions should make it clear what the organization is rejecting, as well as to what it is committing.Strategic planning is a process undertaken by an organization to develop a plan for achievement of its overall long-term organizational goals.

Model There is no one model of strategic planning. The Strategic Business and Operations Framework is a philosophy and decision-making model for how Georgia Tech will work towards achieving the goals of the institute and “ relentlessly pursue institutional effectiveness” (Strategic Plan - Goal 5).

Title: Strategic Planning Model Subject: Strategic Planning Author: Matt H. Evans Keywords: strategic planning, strategy Description: This is a formal strategic planning model that I developed with a team of professionals for the Department of Defense in Washington D.

C. Is your planning process a competitive weapon or a waste of time? The best companies at strategic planning treat it as a critical capability and are able to turn it into a competitive weapon by following five key principles. Strong strategic planning is critical to the success of every organization.

It is the process by which strategy is translated into concrete short-term actions. It can also be a vehicle for deciding which markets are important to your company’s future, and which capabilities you will need to reach.

Strategic Thinking is a planning process that applies innovation, strategic planning and operational planning to develop business strategies that have a greater chance for success. More and more organizations are learning that past experience is not always the best basis for developing future strategies.

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