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 hard 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 element). This is the primary reason for the existence of a business. In stage to plus ROE in a competitive environs, system is required. nib and Certo, 1991, state that organisations with good strategic management pitch to affix 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 practiced environments that affect business are all changing constantly. hence, in found to succeed, businesses also need to change (or to reposition) in response. strategic planning is essentially an activity lf aligning the organization with the environment. indeed 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 later (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 s trategies, organizations stagnate. They habi! tually put to death routine activities without clear purpose or rigour. Strategies compel organizations into exertion in order to achieve clearly defined, specific, time creep goals. 2. STRATEGIC PLANNING SIMPLIFIED This section gives four step to be followed in strategic planning. 2.1 Where Are We Now? The... actually informative essay. I needed to answer 2 questions and I read more here than I wouldve in the schoolbook book! If you call for to get a full essay, order it on our website: OrderEssay.net

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