Emerging trends in strategic planning

In today’s rapidly changing world, there is an increased need for excellent strategic planning. A firm’s survival may indeed hinge on the firm’s planning process being exemplary. Various aspects of the strategic planning process are under review today as organizations wrestle to compete more effectively. This paper reveals and describes five emerging trends or tools being utilized today by firms to more effectively engage in strategic planning. Specifically, the emerging trends and tools to be discussed in this paper are as follows: 1) Assure vision and mission statements include desired characteristics 2) Perform SWOT (Strengths-Weaknesses-Opportunities-Threats) analysis using AQCD (Actionable, Quantitative, Comparative, and Divisional) factors 3) Utilize varied sources to obtain AQCD information 4) Utilize QSPM (Quantitative Strategic Planning Matrix) analysis to determine the relative attractiveness of alternative strategies 5) Use excel-based software to facilitate and enhance the strategic planning process. The purpose of this paper is to familiarize readers with basic new tools and techniques being used by organizations to effectively develop an improved strategic plan for the firm. JEL Code: M21, O21 ARTICLE IN PRESS!

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Latest Trends and New Tools Being Used in Strategic Management

International Journal of Engineering and Management Sciences ◽

10.21791/ijems.2021.1.7. ◽

2021 ◽

Vol 6 (1) ◽

pp. 73-85

Author(s):

András Prof. Dr. Nábrádi ◽

David Forest ◽

Beáta Bittner ◽

Tünde Zita Kovács ◽

Hajnalka Madai ◽

...

Keyword(s):

Strategic Planning ◽

Swot Analysis ◽

Planning Process ◽

Mission Statements ◽

Improved Method ◽

Decision Matrix ◽

Relative Attractiveness ◽

Tools And Techniques ◽

Strategy Fit ◽

Changing World

In today’s rapidly changing world, there is an increased need for excellent strategic planning. A firm’s survival may indeed hinge on the firm’s planning process being exemplary. Various aspects of the strategic planning process are under review today as organizations wrestle to compete more effectively in an ever-changing world. This paper reveals and describes five new trends or tools being utilized today by firms to more effectively engage in strategic planning. Specifically, the new trends and tools to be discussed in this paper are as follows: increased need to follow a strategic planning model; increased need to develop quality vision and mission statements; a new improved method for incorporating SWOT analysis into practice. Utilizing two matrices one internal and one external to provide a less biased way to access the current strategy fit with conditions facing the firm. Explain the use of a decision matrix commonly called the QSPM (Quantitative Strategic Planning Matrix) for assessing the relative attractiveness of various strategies being considered for implementation. The purpose of this paper is to familiarize readers with basic new tools and techniques being used by organizations to effectively develop an improved strategic plan for the firm.

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Operationalising Vision and Mission

Journal of the Australian and New Zealand Academy of Management ◽

10.5172/jmo.2001.7.2.30 ◽

2001 ◽

Vol 7 (2) ◽

pp. 30-40

Author(s):

Steven N French ◽

Stephen J Kelly ◽

Jennifer L Harrison

Keyword(s):

Strategic Planning ◽

Empirical Investigation ◽

Planning Process ◽

Mission Statements ◽

Strategic Planning Process ◽

Strategic Process ◽

Exploratory Investigation ◽

Market Focus

AbstractThis paper discusses an exploratory investigation into vision and mission, the starting points of the classical strategic planning process (Ginter, Rucks and Duncan 1985). Constructs measuring vision and mission are identified, as well as three other items that are frequently cited in the literature as being critical for effective formulation and implementation of vision and mission statements (latent abilities, market focus and competitor focus). It is argued that clearer definitions of these constructs and others discussed in strategic literature are a necessary step to allow empirical investigation into the interactions inherent in the strategic process.

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Operationalising Vision and Mission

Journal of Management & Organization ◽

10.1017/s1833367200005198 ◽

2001 ◽

Vol 7 (2) ◽

pp. 30-40 ◽

Cited By ~ 3

Author(s):

Steven N French ◽

Stephen J Kelly ◽

Jennifer L Harrison

Keyword(s):

Strategic Planning ◽

Empirical Investigation ◽

Planning Process ◽

Mission Statements ◽

Strategic Planning Process ◽

Strategic Process ◽

Exploratory Investigation ◽

Market Focus

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STRATEGI UNIT PELAKSANA TEKNIS DAERAH (UPTD) DALAM PENGELOLAAN MUSEUM SUBAK DI KABUPATEN TABANAN

Jurnal Ilmiah Widya Sosiopolitika ◽

10.24843/jiwsp.2020.v02.i01.p03 ◽

2020 ◽

Vol 2 (1) ◽

pp. 24

Author(s):

PUTU EKA PURNAMANINGSIH

Keyword(s):

Strategic Planning ◽

Swot Analysis ◽

Planning Process ◽

Central Government ◽

Tourism Industry ◽

Matrix Analysis ◽

Strategic Planning Process ◽

Process Indicators ◽

Use Of Technology ◽

Museum Marketing

UPTD Subak Museum was formedi with the aim ofapreserving traditionali farming tools usedi by ancient subak organizations. However, in its management there are stilli various problems, namely the low number ofavisits compared to other DTWs, overlapping authority, and limited use of DAK. In refining and / or making a strategy, it is necessary to analyze the strategy using strategic planning process indicators according to John M. Bryson and also SWOT analysis techniques according to Freddy Rangkuti to identify opportunities, threats, strengths, and weaknesses. The type of research used is descriptive qualitative. The informant determination technique used is purposive and snowball. The results of the SWOT matrix analysis yielded eight alternative strategies. The overall strategies described are four selected strategies as a priority scale for the UPTD Museum Subak, namely maximizing the use of technology as a means of disseminating information, fostering community business spirit to create a tourism industry around the Museum Subak area, developing museum marketing innovations to attract visitors, optimizing support from the central government. Keywords: UPTD Museum Subak, strategic planning process, SWOT analysis

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An Empirical Analysis of Employee Commitment and Impact of Mission Statements

Journal of Business Theory and Practice ◽

10.22158/jbtp.v6n4p323 ◽

2018 ◽

Vol 6 (4) ◽

pp. 323

Author(s):

Rajbir Singh ◽

Aparna Datta Bakshi

Keyword(s):

Strategic Planning ◽

Empirical Analysis ◽

Planning Process ◽

Mission Statement ◽

Employee Commitment ◽

Mission Statements ◽

Statistical Tools ◽

Strategic Planning Process ◽

The World ◽

And Performance

<p><em>Mission Statements drive the strategic planning process of organizations. Mission Statements adorn the receptions and websites of organizations the world over. It is a mission statement which defines the role that the organization plays in the society. A mission statement speaks about the essential purpose of the organization, concerning with why it is in existence, the nature of business it is in and the customers it seeks to serve and satisfy. Importance of mission statement in achieving vision pushes the organization to have a mission statement. On contrary there are several organizations that do not have any mission statement and doing well in business. This paper studies whether the mission statement plays a deciding role in growth and performance of any organization. Necessary statistical tools are used to analyse the data. </em></p>

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