Twenty One Aspects of Strategic Planning

INTRODUCTION

This is a review of the 21 aspects presented by Brian Tracy as pertinent for strategic planning. This review is based on what was presented by Tracy in the video, references on the different aspects and the writer reflections.

1. REASONS FOR STRATEGY

1.1 ROE

Return on equity refers to the clams earned per rupee invested by shareholders or owners of a melodic line (explained in more than detail in a posterior section). This is the primary reason for the existence of a business. In stage to increase ROE in a competitive environment, system is required. Peter and Certo, 1991, state that organisations with good strategic management pitch to increase their levels of profit and profitability.

1.2 Repositioning

Businesses operate in a propellant world. The markets, competition and other environments such as the political, economic, social and technical environments that affect business are all changing constantly. hence, in order to succeed, businesses also need to change (or to reposition) in response. strategical planning is essentially an activity lf aligning the organization with the environment. Thus it enables effective repositioning when required.

1.3 Maximize Strengths and Opportunities

In the previous section it was illustrious that strategic planning is an alignment exercise. In this exercise, a tog out analysis is carried out. The courses of feat that are selected subsequently (the strategies) are the ones that commode (ideally) best exploit the opportunities in the environment utilizing the organizational strengths firearm minimizing treats and weaknesses.

1.



4 Action : Now

In the absence of strategic planning and strategies, organizations stagnate. They habitually put to death routine activities without clear purpose or rigour. Strategies compel organizations into action in order to achieve clearly defined, specific, time wince goals.

2. STRATEGIC PLANNING SIMPLIFIED

This section gives four steps to be followed in strategic planning.

2.1 Where Are We Now?

The...

Very informative essay. I needed to answer 2 questions and I read more here than I wouldve in the text book!

If you call for to get a full essay, order it on our website: Ordercustompaper.com



If you want to get a full essay, wisit our page: write my paper