Strategic planning and management
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What is strategic management and planning? Why would a strategic plan be important to the success of this business? How are the four functions of management relative to creating and implementing a strategic plan?
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This solution provides information concerning strategic management and planning and the importance in a business environment.
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Hello, I provide the following to assist you.
Strategic management is used to determine what the values, goals, roles, objectives and responsibilities of a business are going to be.
Strategic planning helps a business do a better job within their organization.
I provide the following further clarification:
"A word by word dissection of this definition provides the key elements that underlie the meaning and success of a strategic planning process: The process is strategic because it involves preparing the best way to respond to the circumstances of the organization's environment, whether or not its circumstances are known in advance; nonprofits often must respond to dynamic and even hostile environments. Being strategic, then, means being clearr bout the organization's objectives, being aware of the organization's resources, and incorporating both into being consciously responsive to a dynamic environment.
The process is about planning because it involves intentionally setting goals (i.e., choosing a desired future) and developing an approach to achieving those goals. The process is disciplined in that it calls for a certain order and pattern to keep it focused and productive. The process raises a sequence of questions that helps planners examine experience, test assumptions, gather and incorporate information about the present, and anticipate the environment in which the organization ...
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