Understand the process of strategic planningYou will need

Understand the process of strategic planningYou will need to: assess how business missions, visions, objectives, goals, core competenciesinform strategic planningHere, for each of these terms, you need to: give a definition, give one example, and explainwhat their purpose is (why are they used) and what their contribution is to strategic planningactivity. analyse the factors that have to be considered when formulating strategic plansMany of the factors involved in strategic planning are common to all planning – for example: theavailability of/constraints of physical resources, time, funds, expertise, etc – but there are otherswhich you must also discuss, such as the influence of competitor activity, trends developing inthe external business environment, and so on. evaluate the effectiveness of techniques used when developing strategic businessplansHere you need to describe and comment on the effectiveness of planning techniques such as:Forward Planning, Backwards Planning, the STP Model, Scenario Planning, and so on.

 

 

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