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 naval division). This is the special reason for the existence of a business. In stage to sum up ROE in a competitive environs, system is required. tool and Certo, 1991, state that organisations with good strategic management pitch to outgrowth their levels of profit and profitability. 1.2 Repositioning Businesses operate in a propulsive world. The markets, competition and other environments such as the political, economic, social and technical environments that affect business are all changing constantly. hence, in sanctify to succee d, businesses also need to change (or to reposition) in response. strategical planning is essentially an activity lf aligning the organization with the environment. thus 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 afterward (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 : Now In the absence of strategic planning and strategies, organizations stagnate. They habitually put to goal routine activities without clear purpose or rigour. Strategies compel organizations into attain in order to achieve clearly defined, specific, time grovel goals. 2. STRATEGIC PLANNING SIMPLIFIED This section gives four go to be followed in strategic ! planning. 2.1 Where Are We Now? The... rattling informative essay. I needed to answer 2 questions and I read more here than I wouldve in the text book! If you call for to get a full essay, order it on our website: OrderCustomPaper.com

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