Strategic Planning
Formulating the company mission: Purpose, philosophy and goals
Develop Company Profile that reflects internal conditions and capabilities
Assess the company external environment: competition and general contextual factors
Know you options: Match resource to external environment
Evaluate each option in lice of Company Mission
Select long-term goals and strategies
Develop annual goals and short-term goals that are compatible with long term goals!
Budget resources and match of tasks: People, structures, technologies and reward system
Evaluate success and plan for the future
"A strategy reflects a company's awareness of how, when and where it should compete;against whom it should compete; and for what purposes it should compete." *
* Strategic Management- Formulation, Implementation, and control, Fifth Edition
