1. MGMT455 Strategic Planning Process
Announcements
Assignments
Questions?

2. MGMT455 Strategic Planning Process
What is strategic planning?
Management process of setting priorities and using resources effectively while meeting set goals.
Strategic Plan
Details of how we get there
Goals
Update each year

3. MGMT455 Strategic Planning Process
What are some tools that are used in the strategic planning process?
Market Research
Survey or other tool to acquire market information
Gain Customer insight
Cost-Benefit Analysis
Look at cost of doing something vs. benefit
Compare various courses of action

4. MGMT455 Strategic Planning Process
What are some tools that are used in the strategic planning process?
SWOTT Analysis
Strength, Weakness, Opportunities, Threats, trends
Feasibility Study
Can a project or goal be accomplished?
Can we make a profit at the attempt?

5. MGMT455 Strategic Planning Process
Who will be involved?
CEO
Other executive management as needed
Others directly or indirectly
Clear rules for involvement
Board of Directors should lead in planning
Develop planning committee

6. MGMT455 Strategic Planning Process
Who will be involved?
Have as many stakeholders as possible
Administrator
Set up meetings
Record Information
Monitor work
Record the steps in the planning process
If in doubt if someone should be there, include them

7. MGMT455 Strategic Planning Process
Determine Number of meetings
How many do we need
How long each session
Try to finish strategic plan in two to three months
Strategic Analysis
SWOTT and other tools
Action planning
Mission statement update

8. MGMT455 Strategic Planning Process
Develop plans to achieve goals
Look at resources
Do we need more?
Implement Plan
Is it realistic?
Strategic plan should relate to smaller plans through the organization
Roles and responsibilities of others
Document and distribute

9. MGMT455 Strategic Planning Process
Monitor Implementation
Develop criteria
Regular evaluation
Make changes as needed

10. MGMT455 Strategic Planning Process
Final Thoughts