Assignment on What is Strategic Planning?

Strategic Planning General Framework Discuss Strategic Planning distinguishing it and contrasting it with other planning functions and techniques. Individual Components -Product life cycle as a guide to the management of a portfolio of products or services offered to the market (Take two examples: CISCO’s FLIP camera and the typical electric jug) (Just a part of assignment, Thank you )

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MANAGEMENT AND
ORGANIZATION IN GLOBAL
ENVIRONMENT

Strategic planning 1
Strategic planning general framework
There are different types of planning functions, formulated by the management and it
includes strategic planning, tactical planning, contingency planning and operational planning.
A contingency planning is an arrangement drawn up for conceivable unanticipated occasions
or conditions (Barrett, 2012). It is a game-plan to be pursued if a favored arrangement fizzles
or current circumstance changes (Olsen, 2019). Tactical, strategic and operational plans are
coordinated blueprints proposed to accomplish a specific arrangement of objectives and
targets. They are figured dependent on regular presumptions and anticipated results. These
are the similitudes of the three sorts of plans. In other words, strategic plans are highest,
tactical plans in between and operational plans are lowest (Barrett, 2012).
Operational Plan helps the employees in getting clear image about the errands and obligations
for fulfilling the required achievements mention in the strategic plan (Olsen, 2019). It also
helps in encourages most important resources of an organization such as human, monetary
and physical (Olsen, 2019).
Strategic planning plays an important part in the product life cycle. A couple of years ago,
when the management of Cisco decided to introduce flip camera through their strategic
management and planning then they are assuming that strategically realigning the business of
flip camera should focus on selling its core products (Reardon, 2011). In other words, in the
product life cycle of the flip camera, they were estimating the huge demand for the pocket-
sized camera (Olsen, 2019).
The product life cycle of this product starts through strategic planning. Firstly, the flip camera
was introduced in the market then it fascinated their consumer which resultant in creating
upwards growth curve (Barrett, 2012). As time passes, slowly the product is demanded less
by the consumers and started falling (Reardon, 2011). In the strategic planning about the flip

Strategic planning 2
product, the company already concluded that shrinking product lifecycles make it
progressively significant for organizations to get inventive contributions into the clients'
hands, rapidly (Reardon, 2011). With ceaseless item development and further advertise
fracture, clients have more options and leverage than before (Reardon, 2011).
(Source: Barrett, 2012)
The product life cycle of the electric jug will also display the same result but nothing can be
concluded about the end yet (Marcinkowski & Zych, 2017). The strategic and other
functional planning unit included production, use and waste transfer of these electric jugs
(Marcinkowski & Zych, 2017). This underline conclusion produces massive results about the
life cycle of the product in the strategic and other planning functions (Marcinkowski & Zych,
2017). For example, the idea for electric jug was presented in the market, an idea started
shaping which also resulted in the mass production and maturity of the product. As time pass,
people will be entitled to other choices as the substitute of the demand of electric jug.
Eventually, it will also shrink as per its lifecycle (Marcinkowski & Zych, 2017).

Strategic planning 3
References
Barrett, S., 2012. Shrinking Product Lifecycles. [Online]
Available at: https://www.barrett.com.au/blogs/SalesBlog/2012/2418/uncategorized/
shrinking-product-lifecycles/
Marcinkowski, A. & Zych, K., 2017. Environmental performance of kettle production:
product life cycle assessment. Management Systems in Production Engineering, Volume 4,
pp. 255-261.
Olsen, N., 2019. Understanding the difference between Strategic Plan & Business Plan.
[Online]
Available at: https://onstrategyhq.com/resources/understanding-the-difference-between-
strategic-plan-abusiness-plan/
Reardon, M., 2011. Why Cisco killed the Flip mini camcorder. [Online]
Available at: https://www.cnet.com/news/why-cisco-killed-the-flip-mini-camcorder/