Strategic planning models
|Strategic planning models|
|Methods and techniques|
Strategic planning models include various formal and informal methods and processes focusing on long-term activities aimed at identifying the organisation's mission, vision and long-term goals.
Focus on the strategic planning process. This includes individual objectives and actions, departmental objectives, annual objectives, strategies and long-term strategic objectives, mission, values and vision. Each company's strategy focuses mainly on evaluation, planning, supervision and implementation. Strategic planning is a very important part. Strategic planning is a tool for orientation of changes in the opponent. "Strategic planning is the process of formulating and implementing decisions about an organization's future decision."(Strategic planning of project management using the project management maturity model, Harold Kerzner, John Wiley & Sons, 2001)
The strategic objectives show what is important. An important domain is also the domain of action. Action programs should be functional. When planning a strategy, we should pay attention to the asset base. This is related to value monitoring, market definition and understanding of value.
First, an analysis of the company or the environment should be carried out. Then we should proceed with the formulation of the strategy. The next step is the selection of the right strategy and its implementation and control.
The strategic planning model should have a swot analysis. It is important to identify strengths and weaknesses. Also very important are Pestle and Steeple analysis. There are several basic models of strategic planning.
Examples of methods used in modeling
SWOT analysis- its name derives from the English words: strengths and weaknesses, opportunities, threats). The Swot analysis is used at the initial stage of the project. “SWOT analysis is an important analytical technique for understanding the performance and prospects of any issue under study through identifying the external and internal factors influencing it.” (Hassan and Sallahuddin, 2014)
TOWS analysis- this analysis was carried out in the same way as the swot, but the main words were in a different order "Weihrich (1982) has developed TOWS as an extension of swot analysis to make it more applicable and reality grounded. It is used for analyzing external environment (threats and opportunities), along with internal environment (weaknesses and strengths) for drawing strategies and visions."(Al Salmi, M. A. A., & Hasnan, N. B. (2015). SWOT and TOWS matrix e-Government analysis review on Sultanate of Oman. International Journal of Learning and Development )
Balanced scorecard-The balanced scorecard was invented by Robert S. Kaplan and David P. Norton. It is on a new position in similar finances. This method shows what needs to be measured in the company in order to get the best results.
PESTLE analysis-This analysis is used to assess the external environment of the company. The main factors in pestle analysis are political, economic, socio-cultural and technological factors. Political factors related to the political and legal environment. Economic factors are the economic environment. Also related to administration. Socio-cultural factors show interest in culture. Technological factors are related to the use of advanced technologies.
STEEPLE analysis-This analysis is related to the Pest method, but has environmental and legal factors.
Scenarios of possible events- This helps to prepare for possible events and gives the opportunity to prepare for them. This is related to future events. We see the impact of these factors on the company. The scenario may be optimistic, pessimistic, likely or surprising.
Proactive strategic planning-"Planning is a proactive process whose intent is to define useful ends (or targets) and then find the best means to achieve them."(Strategic Planning Plus: An Organizational Guide Roger Kaufman SAGE Publications, 30 lip 1992 - 344 (1992))
- Al Salmi Muatasim Anwar Ahmed, (2015). SWOT and TOWS matrix e-Government analysis review on Sultanate of Oman. International Journal of Learning & Development, 2015, Vol. 5, No. 4.
- Kaufman Roger, (1992) Strategic Planning Plus: An Organizational Guide Sage Publications.
- Kerzner Harold, (2001). Strategic planning of project management using the project management maturity model John Wiley & Sons.
- Miller, C. C., & Cardinal, L. B. (1994). Strategic planning and firm performance: A synthesis of more than two decades of research. Academy of management journal, 37(6), 1649-1665.
- Mintzberg, H. (1994). The fall and rise of strategic planning. Harvard business review, 72(1), 107-114.
Author: Aleksandra Jasińska