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Strategic planning activities

1. What are the two principle activities in strategic planning?

2. Why is it important to correctly identify and address these two activities to ensure success in the quality initiative?

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Strategic planning is a comprehensive method that enables management to identify and understand potential market threats and risks. An organization that plans to ingratiate itself in competitive markets must prepare an adequate strategy.

A strategy can be defined as a pattern of purposes, policies, programs, actions, decisions, or resource allocations that define what an organization is, what it does, and why it does it. Strategies vary by level, function, and time frame. Organizations develop strategies to deal with the issues they have identified (Bryson, 2004).

The strategic planning process varies from organization to organization. however, the initial framework remains the same. A strategy is developed as a result of the organization's current and future needs. Management or the planning team conducts a needs assessment that examines the company's current position and predicts the organization's future position, if strategic action is not applied. Generally speaking, the two primary activities widely used in any organization ...

Solution Summary

The two principle activities in strategic planning are defined. Why it is important to correctly identify activities are determined.