Answering that question will enhance your contributions, our job performance, and your career. Historically, planning described a top-down approach in which top executives establish business plans and tell others to implement them. Now and in the future, delivering strategic value is a continual process in which people throughout the organization use their brains and the brains of customers, suppliers, and other stakeholders to identify opportunities to create, seize, strengthen, and sustain competitive advantage. This dynamic process swirls around the objective of creating more and more value for the customer. Effectively creating value requires fully considering a newand changing set of stakeholders and issues, including the government, the naturalenvironment, globalization, and the dynamic economy in which ideas are king and entrepreneurs are both formidable competitors and potential collaborators Planning is the conscious, systematic process of making decisions about goals and activities that an individual, group, work unit, or organization will pursue in the future. Planning is not an informal or haphazard response to a crisis; it is a purposeful effort that is directed and controlled by managers and often draws on the knowledge and experience of employees throughout the organization. Planning provides individuals and work units with a clear map to follow in their future activities; at the same time this map may be flexible enough to allow for individual circumstances and changing conditions.
You can't build anything without a plan and expect it to succeed.
STRATEGY
The Mission is a clear and concise expression of the basic purpose of the organization. It defines what the company does, whom it does it for, the good and or services that is has to offer and its values. When you hear of a Strategic Vision, that is a vision that looks towards the future. Companies that are looking to scale or grow larger tend to have a strong a clear Strategic Vision, describing where the organization is headed and what it can ultimately become. This is usually all found in a company’s Vision Statement. The Vision Statement can be one of the best sources of inspirations for a team. The Mission and Vision directly influence the second part of strategic management. It is where a company conducts an Analysis of External Opportunities and Threats. Here a company analyzes the following:
1. Industry and Market 2. Competitor 3. Political and Regulatory 4. Social 5. Human Resources 6. Macroeconomic 7. Technological