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 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 component). This is the simple reason for the existence of a business. In stage to ontogenesis ROE in a competitive surround, system is required. prick and Certo, 1991, state that organisations with good strategic management pitch to plus their levels of profit and profitability. 1.2 Repositioning Businesses operate in a propelling world. The markets, competition and other environments such as the political, economic, social and skilful environments that affect business are all changing constantly. hence, in fellowship to succeed, bus inesses also need to change (or to reposition) in response. strategic planning is essentially an activity lf aligning the organization with the environment. thence 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 subsequently (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 Action : N! ow In the absence of strategic planning and strategies, organizations stagnate. They habitually put to demise routine activities without clear purpose or rigour. Strategies compel organizations into action mechanism in order to achieve clearly defined, specific, time reduce goals. 2. STRATEGIC PLANNING SIMPLIFIED This section gives four locomote to be followed in strategic planning. 2.1 Where Are We Now? The... genuinely informative essay. I needed to answer 2 questions and I read more here than I wouldve in the textbook book! If you call for to get a full essay, order it on our website: OrderCustomPaper.com

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