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A strategic plan is a document that establishes the direction of a company or work unit. Strategic Planning Strategic planning is the process of developing a strategy including elements such as mission, vision, principles, goals and plans. Timothy Beatley. A strategic plan contains a clear objective of what the business wants to achieve as well as the activities that are needed to be executed. Organizations are supposed to select the directions in which it will move towards. Come on out from under the bed. The Concept of Strategic Planning … • Each small group writes on a flipchart the shared elements of the vision. Planners must take into account the strategies of the rival organisations, otherwise the planning projection may land them in trouble. Make sure you include each of these key components in order to create a strategic plan that will serve your small business. Heracleous (1998) believes that strategic planning and thinking are two interrelated concepts both of which are essential for effective strategic management. Furthermore, a strategic plan also allows us to be better prepared for unexpected change. 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. Element 3: Strategy Development. It should be noted that only a summary of these elements is offered in this section. In short, a planning system must be alive. The aim should be clearly defined so that it can guide and direct the activities of the enterprise. In particular, we explore whether municipal governments tie other components of the overall strategic management process to their strategic plans. The first part explains what is planning and its functions in the strategic management in order to further put a light on the theoretic terminology of strategic planning and strategic management as well as to explain the relation between them. 1/3 1.3 The Process of Strategy and Decision Making 1/26 Strategic planning is very important in business processes as it allows the company to address issues that are necessary to be resolved for future operations to be more successful in terms of market relationship, sales, exposure, and branding. While creativity is essential to innovation, it is not the whole story. Strategic planning is useful only if it becomes the basis for management action. Environmental Assessment In their textbook, “Managing Human Resources,” authors Susan E. Jackson, Randall S. Schuler and Steve Werner list environmental scanning as the first of three elements in HR planning. Strategic issues are critical unknowns that are driving you to embark on a strategic planning process now. Objectives: ... Strategic planning is essential where there is competition. These can then be written up on one flipchart representing the consensus of the participants. 9 important Elements of Planning. Strategic Planning Edinburgh Business School v Contents Using the Course Package ix Cases v The Simulation: Stratship vii Your Learning Style vii Module 1 Introduction to Strategy, Planning and Structure 1/1 1.1 Strategic Planning: The Context 1/1 1.2 What Is Strategic Planning? However, regardless of whether or not the TQL coordinator acts as the strategic planning facilitator, he or she should know as much about the process as the other players to function in the roie of process consultant. Plans, both long and short-range, should be made annually. 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