Successful Strategic Planning with Decision-making Tools & Techniques

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Successful Strategic Planning with
Decision-making Tools and Techniques

• Presented By www.Tools4Management.com

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What is Strategic Planning?

• The process of developing a mission, a set of
  goals and strategies, and then, incorporating the
  strategies to accomplish the mission and goals is
  called strategic planning.
• Strategic planning helps in prioritizing
  activities, allocating resources to the right
  direction and to fortify business operations.

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How Decision-making Tools Techniques Help in
Decision-making?

• Strategic planning involves making several vital
  decisions. It is important to spot the right
  decision to be made, evaluate the decision and at
  the same time, look for viable alternatives.
• Decision making tools and techniques come handy
  in the pursuit of making effective strategic
  planning decisions.

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Important Decision-making Tools

• SWOT Analysis
• This tool helps in evaluating the strengths (S)
  and weaknesses (W) of a business, and to analyze
  the opportunities (O) and threats (T) that a
  business comes across.
• Pareto Analysis
• It aids in identifying the most important
  decision to be made by defining the one which
  will generate the biggest impact.

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Important Decision-making Tools

• Decision Tree
• You can mull over every aspect of a decision with
  this tool.
• Decision Matrix
• It is one of the most important decision-making
  tools and techniques. Decision Matrix helps in
  analysing each of the options related to a
  decision, including the factors that will
  generate most impact and the ones that will
  affect the operations.

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