LD 03 STRATEGIC PLANNING Objectives: § Define management process, its components and success factors. § Discuss the influencing factors on planning process and its success factors. § Link between strategic thinking and strategic planning. § Define strategic planning process § Apply strategic planning process stages: mission statement definition, strategic objectives determination, external and internal environment assessment techniques, SWOT analysis and strategy formation, implementation and evaluation Contents: Managing Organization & Management Process: § Management process components § Relation between management functions and decision making: Features and success factors External Environment Analysis: § External environment components & role of information in analysis § Opportunities & threats determination technique Planning: § Pre-requisites and features of effective planning § Planning success factors & types of plans § Planning process Internal Environment Analysis: § Internal performance analysis: Value chain & productivity indicators § Management audit: Strengths and weaknesses determination § Model "Y": Gap analysis and elimination techniques Strategic Planning: § What is strategic planning: Relationship between strategic thinking and strategic planning § Strategic plans development and evaluation process Strategic Alternatives Generation: § Factors influencing the choice of strategic alternatives § Strategic alternatives and brainstorming § Evaluation basis among strategic alternatives Mission Statement Determination: § What is a mission statement and its importance § Mission statement specifications § The role of the mission statement in strategic planning Setting the Strategic Plan: § What is a strategic plan? § Techniques for setting strategic plans § Budgeting: types and preparation techniques Strategic Objectives Determination: § Strategic objectives definition § Strategic objectives: Features & functions § How to set strategic objectives Strategic Plan Evaluation: § Setting strategic plan performance evaluation standards § Strategy evaluation steps |