The strategic planning process Major Steps-Edward Herzstock (1)

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The strategic planning process Major Steps
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Edward James Herzstock
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One of the most significant tasks that a company
may undertake is strategic planning. It can,
however, be one of the most difficult to deal
with.Dont worry, Ill answer these and other
questions in this article- Edward J. Herzstock.
Continue reading for a quick overview of the
strategic planning process, including a look at
alternative strategic planning frameworks,
typical strategic planning goals, and the many
stages of the process.
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Figure out what your strategic stance is
A companys immediate and long-term objectives,
as well as the methods it might take to attain
them, are defined here.As an example, lets
imagine a soda company aspires to be the worlds
number one beverage company.
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Collect information and people
Is there anything that could go in the way of you
attaining your goal? During this phase, youll
gather the people and information youll need to
see if there are any further considerations you
should make before putting your plan into action.
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Make SWOT analysis
Youll identify your companys strengths,
weaknesses, opportunities, and dangers throughout
this phase. This will assist you in refining your
organizations goals so that it may go forward in
the most productive manner possible. To get the
most out of this exercise.
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W
O
T
S
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Develop a strategic plan.
After completing the first three phases, our soda
company is now ready to draft a strategic plan
that incorporates all of the data obtained thus
far.So, during this phase, the soda firm will
design a strategy that outlines its objectives,
how it wants to reach them.
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