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Conception and stages of strategic planning

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strategic planning

Strategic planning is one of administrative functions. This is the process of choosing the aims of the company and the ways of its achievement.

This function provides the base for all administrative decisions. Functions of the company, motivation and control are orientated  on the working out of strategic plans.

Strategic planning allows stockholders and management of the company to define the direction and the rate of business development, to outline the global tendencies of the market, to understand what organizational and structural changes should take place in the company in order the enterprise become competitive, to learn what tools are necessary for successful development of the company.

Until very recently strategic planning was the perquisite of large international groups of companies. But today situation changes, today more and more companies of the medium business begin to deal with questions of strategic planning.

The process of strategic planning in the company consists of several stages:

1.      Definition of the mission and aims of organization. Mission is the conception intention to move in special direction. Usually it includes the specified status of the enterprise, main principles of its work, real intentions of administration and also the definition of the most important economic features of the enterprise. Mission expresses determination to the future, it shows on what organization will direct its forces, what values will be of top-priority. So mission shouldn’t depend from the present state of the enterprise and financial problems shouldn’t reflect on it.

Aim is the specification of mission in the form available for it realization. The main characteristics of the aim are:

– the exact orientation on the definite period of time;

– concreteness and measurability;

-correspondence with other missions and resources;

– addresses and controllability.

2.      Analysis of the media which includes  data acceptance, analysis of strong and weak sides of the company, and also its potential  on the basis of the presence external and internal information.

3.      Choosing of strategy. This suggests the formation of alternative directions of the development of the company, their estimation and choosing the best strategic alternative for realization.

4.      Realization of strategy.

5.      Estimation and control of realization.

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