The first part to strategic management planning is to provide an introduction about the organization, background information pertaining to the organization, as well as an organizational profile. It should tell who the organization is, what the organization does, and where they want the organization to go in the future.
The second step in the process would to ensure the organization has a clear and concise vision and mission statement.
The Vision Statement should outline what the organization wants to be and how it wants the environment in which the organization operates to be. For employees it should give direction on the organizations expectations and should inspire them to give their ...view middle of the document...
The organization can also create a strategic list of issues they would like to resolve, as well as opportunities, market shifts, or anything else that the organizations deems necessary for review (Olsen, 2014).
Balanced Score cards can provide a method of evaluating an organizations performance based on “performance measures from the consumer, internal, innovation and learning, and financial perspectives (Dess, Lumpkin, Eisner, & McNamara, 2014).” Score Cards provide consumer prospective into what is priority, so management can translate those priorities into specific measures to satisfy its consumers. Organizations should ask themselves when evaluating Balanced Score card (Dess, Lumpkin, Eisner, & McNamara, 2014):
• How do Customers see us? (customer perspective)
• What must we excel at? (internal business perspective)
• Can we continue to improve and create value? (Innovation and learning)
• How do we look to shareholders? (Financial perspective)
SWOT analysis can offer helpful perspectives at any stage of planning. SWOT is Strengths, Weakness, Opportunity and Threats that are both internal and external to an organization. An internal SWOT analysis can help the organization plan for the future by looking at how an organization works now. “It can reveal trends, irregularities, limitations, and opportunities. To perform an internal analysis, gather information about the organization's strengths and weaknesses, services, programs, activities, staffing, and finances (Berkeley, 2006).” External SWOT analysis will help the organization understand how it is perceived externally. It will allow the organization to see what competitors and social factors may affect its future. “External factors may include things like the economy, funding trends, demographics, social factors, technology changes, competition, politics, regulatory factors, and public opinion (Berkeley, 2006).”
From these analyses, an organization should identify and agree on the critical challenges, in which they will organize the strategic plan around. These could be anything from funding issues (over or under funding), new programs, and loss in market share to competitors or changes in consumer wants/needs. The...