Twenty One Aspects of Strategic Planning

INTRODUCTION This is a review of the 21 aspects presented by Brian Tracy as pertinent for strategic planning. This review is based on what was presented by Tracy in the video, references on the different aspects and the writer reflections. 1. REASONS FOR STRATEGY 1.1 hard roe Return on equity refers to the clams earned per rupee invested by shareholders or owners of a melodic line (explained in more than detail in a posterior piece). This is the pristine reason for the existence of a business. In stage to emergence ROE in a competitive surround, system is required. putz and Certo, 1991, state that organisations with good strategic management pitch to increase their levels of profit and profitability. 1.2 Repositioning Businesses operate in a dynamic world. The markets, competition and other environments such as the political, economic, social and practiced environments that affect business are all changing constantly. hence, in outrank to succeed, busi nesses also need to change (or to reposition) in response. strategical planning is essentially an activity lf aligning the organization with the environment. consequently it enables effective repositioning when required. 1.3 Maximize Strengths and Opportunities In the previous section it was illustrious that strategic planning is an alignment exercise. In this exercise, a tog out analysis is carried out. The courses of feat that are selected by and by (the strategies) are the ones that commode (ideally) best exploit the opportunities in the environment utilizing the organizational strengths firearm minimizing treats and weaknesses. 1.

4 Actio! n : Now In the absence of strategic planning and strategies, organizations stagnate. They habitually put to conclusion routine activities without clear purpose or rigour. Strategies compel organizations into swear out in order to achieve clearly defined, specific, time wince goals. 2. STRATEGIC PLANNING SIMPLIFIED This section gives four locomote to be followed in strategic planning. 2.1 Where Are We Now? The... truly informative essay. I needed to answer 2 questions and I read more here than I wouldve in the schoolbook book! If you call for to get a full essay, order it on our website: OrderCustomPaper.com

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