Understanding the Process of Strategic Planning

This presentation provides an in-depth understanding of the process of strategic planning and its significance in achieving business goals and objectives. It covers topics such as business mission, vision, goals, and core competencies, factors considered when formulating a strategic plan, techniques in strategic planning and evaluation, and more. The presentation also includes references for further reading.

Business Strategy
(Understanding the process of strategic planning)
TASK 1

Table of Content
 Introduction
 Business mission, vision, goals, objectives and core
competencies
 Factors considered when formulating strategic plan
 Techniques in term of strategic planning & evaluation
 References

Introduction
Business strategy is reflected as plans and policies which are used by
firms in order to achieve all their assigned goals and business
objectives.
All the activities of firms should be monitored & controlled in order to
ensure smooth functioning at work place.
Strategy are useful tools for mangers as it helps them to make plans and
policies in order to achieve their targets.

Business Mission, Vision, Objectives, Goals
and Core Competencies
Business strategy are essential tools for every firms in order to
achieve all their goals and business objectives in desired time
frame.
This is valuable factors which helps in achieving growth and
development for business.

Cont....
The vision, mission, goals and core competencies of business are
described as:
Mission: : This is an essential statements which are beneficial for firms
in order to analyse their position where they will stand in the future
times.
Vision: This is an essential elements which describes what the firms
want to achieve in future time period.

Cont.....
Goals: These are defined as targets which had to be achieved by
Swing Patrol in allotted time period.
Objectives: These are vital statements which are framed in advance and
this helps the business to perform all their business according to
these objectives.
Core competencies: These are values of firms which helps them to
make differences by seeing themselves standing at high positions in
market place.

Business Plan
BASIS TIME
Research & Development 10 to 40days
Main objective of plan 10 to 15days
Identifying current position of company 15 to 20 days
Documenting aspects of dancing firms 5 days
Identifying market plans and policies 15 days
Implementation & Review 20 to 25 days

Factors Considered while Formulating
Strategic plan
Different factors analysed
by firms are described as:
 Future Targets
 Current market
situations
 Customers

Cont...
Future Targets: If firms wants to carry out their
operations in effective ways then they should evaluate
their goals, objectives, vision and core competencies
which are helpful in achieving growth and success for
business.

Cont...
Current market situations: All the trends and strategies
at market place have to be analysed in order to
evaluate working so they can achieve all their targets.
Customers: This element is linked with attitude and
behavioural aspects of clients at business
organisations.

Techniques in Strategic Plan
Evaluation
Swing Patrol are using various tools and techniques in order
to gain all their goals and business objectives in planned
and effectual ways.
This can be achieved with the help of growth and share
matrix which are beneficial in achieving all their targets
in desired time frames.

Techniques in Strategic Plan
Evaluation
Swing Patrol are using various tools and techniques in order to
gain all their goals and business objectives in planned and
effectual ways.
This can be achieved with the help of growth and share matrix
which are beneficial in achieving all their targets in desired
time frames.

Cont...
The components of BCG Matrix are described as:
 Star
 Cash Cow
 Dogs
 Question Mark

Cont...
Star: These firms are having higher growth and market shares. They
are having higher profitability when there business is compared with
other firms dealing in same activities.
Cash Cow: These firms are having lower growth but there marketing
shares are very higher. They having various chance of investing
their monetary values in order to gain higher profitability.

Cont...
Dogs: These business should not be carry forward as they are
having both market and growth shares which are lesser while
making comparison with other business.
Question Mark: These business are called as problem children's.
They are having higher growth rates but there market shares
are very less.

References
Haley, G. T., Haley, U. C. and Tan, C., 2011. The Chinese Tao of
business: The logic of successful business strategy. John Wiley &
Sons.
Li, Y. and Tan, C. H., 2013. Matching business strategy and CIO
characteristics: The impact on organizational performance.
Journal of Business Research. 66(2). pp.248-259.
Melville, N. P., 2010. Information systems innovation for
environmental sustainability. MIS quarterly. 34(1). pp.1-21.

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