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Processes of Strategic Planning

Introduction: Strategic planning is a comprehensive process for determining what a business should become and how it can best achieve that goal. The planning appraises the full potential of a business and links the business's objectives to the actions and resources required to achieve them. Strategic planning involves a systematic process to address the critical issues confronting a company or organization. Strategic Planning processes are often implemented to:

Change the direction and performance of a business;

Set a proper context for budget decisions and performance evaluations;

To develop a shared vision of the direction in which the organization is moving

A successful strategic planning process for the ABC Day Care Center will include all of the following elements:

It will describe the organization's mission, vision, and fundamental values;

Analyze the company's strengths and weaknesses relative to competitors;

Develop an appropriate business model that enable ABC Daycare to compete effectively with other centers and with in home daycare;

Establish clear objectives for the business, and develop plans, policies and programs to implement the strategy;

The Mission Statement: Melissa Master writing in Across the Board (2004) comments that a mission statement should be the driving force in the organization. The statement should be the top consideration for every employee. The importance of a mission statement is that it can become a unifying force for the organization. Master adds that focusing on the mission while carry out the organization's day-to-day activities means that the mission becomes an important component in evaluating the organization's results. She believes that a clear and compelling mission statement cuts straight to the heart of what an organization does (Master, 2004, 16). The mission of ABC Day Care Center is to provide a safe, nurturing, and stimulating environment for preschool aged...

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Processes of Strategic Planning. (1969, December 31). In LotsofEssays.com. Retrieved 06:48, March 29, 2024, from https://www.lotsofessays.com/viewpaper/1696108.html