Strategic Planning: Analysis, Implementation, and Evaluation

This report analyzes strategic planning, starting with the definition and processes involved in creating a strategic plan, including vision and mission statements, gap analysis, and setting SMART objectives. It explores the components of a mission statement, emphasizing its role in defining an organization's purpose and future aspirations. The report details the importance of stakeholder engagement, outlining how to gather necessary information and the impact of organizational values on decision-making. It provides questions to identify stakeholders and describes methods for analyzing both internal and external environments, such as SWOT, VRIO, Porter's Five Forces, and PESTLE analyses, offering a comprehensive overview of strategic management principles and practices.

Develop and
Implement Strategic
Plans

1. Briefly describe what strategic planning is and the processes involved in writing the
strategic plan?
Strategic planning can be termed as process that highlights upon the formulation of
advance approaches and tactics that can assist the company to regulate its business
operations and attain competitive edge in a productive and strategic manner. The
following components needs to be integrated by the enterprise in order to compose a
strategic plan:-
 Vision Statement
 Mission Statement
 Gap Assessment
 Determination of SMART objectives
 Examination and Monitoring of strategic progression
2. What is a mission statement and what are the four components of a mission
statement?
Mission Statement quotes and depicts the significance behind the existence of a particular
business organisation. The concerned statement reflects upon the future aspiration of the
business enterprise. It basically defines the exact purpose of the organisation i.e. the
reason why an organisation functions and operated in the market. The four essential
component of a mission statement are mentioned below:-
 Value proposition
 Immense inspiration
 Definite or Specific
 Viability
3. What information do you need to get from the stakeholders to begin to develop a
strategic plan for your organisation and how will it be done?
The stakeholders are required to facilitate the essential insights about the vision, purpose,
requirement, interest and goals/ objectives and of the business enterprise in order to assist
in the development of a strategic plan. In order to acquire relevant information from
stakeholders, the strategic manager can plan a meeting, conference and regular discussion
in order to engaged stakeholders within the process of strategic management.

4. How do the organisational values impact the decision making of the organisation?
Organisational values can be characterised as the essential building blocks for the
formulation of decision making policies and procedures within a business setting.
Organisational values impacts upon the respective behaviours and actions of the members
working under an institution in a prominent manner. The set of values, beliefs and
attitudes exercised within an organisation directs the decisions of the individuals working
within the workplace setting. For instance, an organisation that promotes transparency
and fairness within the business process is likely to facilitate better decision making in
comparison to the other enterprises that do not believe in the same.
5. What questions could you ask to determine who your stakeholders are?
The following questions can be asked in order to determine the stakeholders within the
business enterprise:-
 Who is responsible for formulation overall organisation objectives within an
enterprise?
 Who is involved in the facilitation of funding to the organisation?
 Who will be majorly affected by the implementation of strategic plan?
 Who will be most likely to have an interest with the outcomes and results of the
strategy regulation?
 Who will be benefitted or adversely impacted by the success and failure of the
concerned business strategy?
6. How would you analyse the internal and external environment?
The analysis and assessment of internal business environment will be conducted through
capitalization of SWOT Framework, VRIO Analysis, Portfolio Model and Capacity
Assessment Grid.
The examination of external business environment can be facilitated through the
utilization of Porter’s five forces model, PESTLE Model, Scenario Planning, Market and
Business Surveys, ETOP assessment.