1-2 weeks (1 hr meeting with Owner/CEO, Strategy Director and Facilitator (if necessary) to discuss information collected and direction for the continued strategic planning.) Who is going to be on your strategic planning team?You need to choose someone to oversee the implementation (Chief Strategy Officer or Strategy Director) and then you need some of the key individuals and decision makers for this team.You need to have an understanding of what your competitors are or aren’t offering your potential customers.
1-2 weeks (1 hr meeting with Owner/CEO, Strategy Director and Facilitator (if necessary) to discuss information collected and direction for the continued strategic planning.) Who is going to be on your strategic planning team?Tags: Good Thesis For Research PaperElectronic Media Essay In UrduCreative Writing IntroductionAnorexia Research PaperHomeworkers UkCover Letter For Business Administration Fresh GraduateGeography Fieldwork CourseworkWritten Text Analysis EssayDover Beach Essay Analysis
These issues can be problems, opportunities, market shifts or anything else that is keeping you awake at night and begging for a solution or decision.
Conducting an environmental scan will help you understand your operating environment.
An environmental scan is also referred to as a PEST analysis, which is an acronym for Political, Economic, Social and Technological trends.
Sometimes it is helpful to also include Ecological and Legal trends as well.
Often your organization’s mission and vision may remain the same while your objectives and goals will need to be revised or updated.
When this happens, you will need to either adapt your strategy or begin the process over again. Some organizations can maintain a strategic plan for a year or longer, while others have to respond to market changes more frequently.If your team wants to take the next step in the SWOT analysis, apply the TOWS Strategic Alternatives Matrix to help you think about the options that you could pursue.To do this, match external opportunities and threats with your internal strengths and weaknesses, as illustrated in the matrix below: *To access the worksheets under “Tools & Techniques” please refer to our Strategic Planning Kit for Dummies.Take the Strengths, Weaknesses, Opportunities and Threats you developed earlier, review, prioritize and combine like terms.The SWOT analysis helps you ask, and answer, the following questions: “How do you….” *To access the worksheets under “Tools & Techniques” please refer to our Strategic Planning Kit for Dummies.Evaluate the options you’ve generated, and identify the ones that give the greatest benefit, and that best achieve the mission and vision of your organization.Add these to the other strategic options that you’re considering. Once you have formulated your strategic objectives, you should translate them into goals and measures that can be clearly communicated to your planning team (team leaders and/or team members).Whatever your situation, just be prepared to let go and switch strategies as necessary.Corrective action needs to be taken quickly to compensate for the dynamic business environment most organizations operate within.All of these trends play a part in determining the overall business environment.The reason to do a competitive analysis is to assess the opportunities and threats that may occur from those organizations competing for the same business you are.