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A1 Intro

This document discusses strategic management and planning. It outlines the key elements of strategic management including creating a strategic plan, implementing the plan, and evaluating outcomes. It also discusses the difference between a strategic plan and strategy, with the plan being vision-driven and long-term, and strategy being the unique activities to attain the vision. Finally, it notes that strategic management is a 5-step iterative process of developing a vision, objectives, strategy, implementation, and evaluation.

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abdulbabul
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54 views

A1 Intro

This document discusses strategic management and planning. It outlines the key elements of strategic management including creating a strategic plan, implementing the plan, and evaluating outcomes. It also discusses the difference between a strategic plan and strategy, with the plan being vision-driven and long-term, and strategy being the unique activities to attain the vision. Finally, it notes that strategic management is a 5-step iterative process of developing a vision, objectives, strategy, implementation, and evaluation.

Uploaded by

abdulbabul
Copyright
© © All Rights Reserved
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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STRATEGIC

MANAGEMENT

Management by Results
Capstone
.
MD

C-suite: Marketing, Finance, Operations, HR,…

Senior

Middle

Operations
STRATEGIC MANAGEMENT
elements

Create Strategic Implement the Evaluate the


Plan Plan Outcome
planning

• Planning > future thinking.

• Planning > integrated decision making process

• Examples : Annual Budget


5 Year Plan
Perspective Plan
STRATEGIC Plan

• Examples : - PRSP
- MDG
- Vision 2021

Q1. What is the difference ?


Strategy

• Strategic Plan is a vision driven plan - an aspired


position to be attained at the end of plan period.

• Strategy is unique set of activities performed to


attain the vision.

• Strategic Plan is a long-term plan.


• Strategic Plan is a shared plan.
• Strategic Plan is a leader-driven plan.
Strategic management

• Strategic Management is a 5 step process;

1. Develop Vision statement


Planning 2. Develop Objectives of measurement
3. Craft Strategy to attain the vision

Managing 4. Follow through the Implementation


5. Evaluate the outcome
Strategic management
5 tasks

• The first 3 tasks i.e. Vision, Objective, Strategy


relate to Planning

• The last 2 tasks i.e. Implementation, Evaluation


relate to Management

• The total set of activities is Strategic Management.


• Strategic Management is Management by Results.
STRATEGIC PLANNING
3 questions to start with

• #1. Where we are now ?


: our current position

• #2. Where can we go ?


: the big picture
BHAG (big hairy audacious goal)

• #3. How do we propose to go ?


: the strategy
THE FRAMEWORK

• Hierarchical Process
– Top Down

• Diverse group of people make up the planning team

• Developed through open and free discussions


– Bottom Up

• The sharing of ideas forges commitment


- Shared Vision
PLANNING
An Iterative Process

• Ritual

• Habit

• Fail to Plan Plan to Fail


Strategic Plan

• It is a Long-term plan

• It is developed along a Vision

• Vision is the Destination


Strategic Plan

• Mission is the tasks performed to attain


vision

• Strategy is delivery through mission


attained
Strategic Management

• Implementation and Evaluation are integral part of


the Planning Process.

• To facilitate effective implementation the plan is


divided into several strategic directions.

• Each direction comprises several tasks,


each task assigned to a group or individual.
Evaluation

• Evaluation is a simultaneous activity as the plan is


implemented.

• Ensures that the plan is on track producing the desired


output (outcome).

• Else corrective actions may be required.

• Balanced Score Card (BSC) is an innovative tool devised


for effective implementation of the plan.
?
Strategic Management

• Is not a panacea for all organizations.

• It may not work in an organization where


 The roof has fallen (it needs crisis management )
 The leadership is weak
 There are cultural clashes
Strategic Management

• But with the right elements in, it creates

 a commitment through team building

 a culture that identifies and supports the mission

 a focus in the selected activities as the organization


marches towards the vision

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