Management strategic planning

Importance of strategic planning

Strategic planning is the most importance of the organization. Planning is the long term organizational impact of the decision on the strategic plan. They need to know the strategy process will more advantage the organization.

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The strategic planning can provide benefit is following:

• Assistance in preparing operational plan
• Integration in total work
• Overcoming indiscipline
• Facing competition
• Assistance for evaluation and control

Various types of strategic planning

Strategic planning is the process of determining how to move the organization long term objective to the capital expected. There are strategies, planning its business organization used for achieving business organization. The following of various types of strategic planning:

 1. Grand or Corporate level strategy

A) Defensive strategies-

• Harvest strategy
• Turnaround strategy
• Divestiture strategy
• Bankruptcy strategy
• Liquidation strategy

B) Stability strategy-

C) Growth strategy-

• Concentration strategy
• Vertical integration strategy
• Diversification strategy

2. Business- level strategy

• Cost leadership strategy
• Differentiation strategy
• Focus strategy

3. Functional- level strategy

• Growth strategy
• Finance strategy
• Organization strategy
• Personal strategy
• Public relations strategy
• Products or services strategy and
• Marketing strategy

Considering factors for preparing strategic planning

Dreaming long term plan dreams is the first start towards achieving a fulfilling organization's goal. The strategic planning is long term organizational goal achieves that effect in preparing plans. The preparing strategic planning considered creating that action plan:

• Strategic goal
• Growth rate of organization
• Future environment condition
• Present condition of organization
• Possibility of new competitors entrance
• Competitors position and their strategy
• Condition of buyers or consumers
• Availability of required resources
• Condition of substitute products

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