Strategic planning

Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the future direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue particular courses of action. Generally, strategic planning deals with at least one of three key questions:[1] "What do we do?""For whom do we do it?""How do we excel?" George Friedman in The Next 100 Years summarises "the fundamental principle of strategic planning: hope for the best, plan for the worst".[2] Key components[edit] Organizations sometimes summarize goals and objectives into a mission statement or a vision statement. Tools and approaches[edit] Tools include: Situational analysis[edit] There are several factors to assess in the external situation analysis: It is rare to find all seven of these factors having critical importance. See also[edit]

SMART criteria Mnemonic, giving criteria to guide in the setting of objectives SMART is a mnemonic acronym, giving criteria to guide in the setting of objectives, for example in project management, employee-performance management and personal development. The letters S and M generally mean specific and measurable. Possibly the most common version has the remaining letters referring to achievable (or attainable), relevant, and time-bound. The first-known use of the term occurs in the November 1981 issue of Management Review by George T. Often the term S.M.A.R.T. History[edit] The November 1981 issue of Management Review contained a paper by George T. Ideally speaking, each corporate, department, and section objective should be: Specific – target a specific area for improvement. Current definitions[edit] Each letter in SMART refers to a different criterion for judging objectives. Choosing certain combinations of these labels can cause duplication, such as selecting 'attainable' and 'realistic'.

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2025-08-03 20:29

by raviii Aug 5

Strategic Approach - The use of a strategic approach means that the researcher, having settled upon the research question, will gather whatever samples are necessary to throw light on the question. Creative flexibility will be employed, and the precise direction of the data collection process will emerge only as the project develops. Tactical initiatives (q.v.) may lead the researcher in unanticipated directions.

Found in: Davies, M. (2007) Doing a Successful Research Project: Using Qualitative or Quantitative Methods. Basingstoke, Hampshire, England, United Kingdom: Palgrave Macmillan. ISBN: 9781403993793. by raviii Jul 31