Does your strategy match your strengths with how you will provide value to and be perceived by your customers?
Business Strategy - 1 1. The process of strategic planning Strategic planning is important for any organization. A clear understanding of the process of strategic planning is crucial for successful implementation of the same.
This chapter focuses on mission, vision, objectives, goals and core competencies of TNT, issues involved in strategic planning and also different planning techniques.
According to this definition, the strategy has long-term direction of achieving organisational goals. For instance, the TNT has set its practical measures under three aims. Those aims can be identified as customer relationship management, operational excellence and innovation.
These practical measures can be identified as the long-term directions of TNT. The mission statement aims to provide employees and stakeholders with clarity about the overriding purpose of the organisation Johnson et al, For instance, the mission statement of TNT can be identified as follows http: Deliver value to our customers by providing the most reliable and efficient solutions through delivery networks 3.
Objectives are the desired outcomes of the organisation. The goals explain the way in which the organization is going to achieve its mission. Organisational goals and aims can be identified as similar concepts. Core competencies differentiate the organisation from its competitors. Skills, resources, and activities which cannot be imitated by other competitors can be identified as core competencies of the organisation.
TNT has many core competencies and it has led to achieve the competitive advantage through available resources. This strategic planning involves with many issues and Sadler has identified five 5 major issues which involve with strategic planning namely, confusing strategy with the strategic plan, detachment from reality, paralysis by analysis, lack of ownership, and dampening of innovation.
There can be confusion with the existing strategies at the stage of strategic planning. Managers may feel that the strategic planning is the planning of same strategies which they are practicing now.
Also detachment from reality is also another issue.
Each organization has a unique external context. Given that context, it develops strategy to provide an appropriate direction. Even if strategic initiative leader is not involved in strategy formulation, he/she needs to understand the strategic context. 2. The art and science of planning and marshalling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army. See also tactics. Strategic Planning Model & Terminology by Nathan Garber Strategic planning is notable for the lack of standardized methods and terminology in the field. It is therefore useful to establish operational definitions for terms used in the planning process and to be clear about what elements are included in the strategic .
Sadler argues that strategic planning is an intellectual process and it damages to the reality of operation. This basically happens because of the lack of involvement for the strategic planning of employees.
The next issue is paralysis by analysis. This argues that strategic planning can be over-detailed because of the extensive analysis. Lack of ownership is another problem.Explaining Strategic Contexts and Terminology – Missions, Visions, Objectives, Goals, and Core Competencies of Mulberry: Mission: The mission statement of purpose means to give workers and stakeholders clarity about the overriding reason for the association.
Explain strayegic contexts and terminology - missions, visions, objectives, goals, core competencies. Review the issues involved in strategic planning.
BTEC Business Strategy Unit: 7 Task: 1 LO: 1 Strategic context and terminology Strategic planning is important for any organization. A clear understanding of the process of strategic planning is crucial for successful implementation of the same.
Explain strategic contexts and terminology – missions, visions, objectives, goals, core competencies. PLEASE WRITE YOUR ANSWER HERE 1 Mission – is a statement of the company’s purpose and the reason for existing.