scholarly journals Latest Trends and New Tools Being Used in Strategic Management

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.

scholarly journals Emerging trends in strategic planning

2021 ◽  
Vol 14 (1-2) ◽  
Author(s):  
Fred R. David ◽  
Forest R. David ◽  
Tünde Zita Kovács ◽  
András Nábrádi
Keyword(s):  
Strategic Planning ◽  
Planning Process ◽  
Mission Statements ◽  
Matrix Analysis ◽  
Alternative Strategies ◽  
Strategic Planning Process ◽  
Emerging Trends ◽  
Relative Attractiveness ◽  
Jel Code ◽  
Tools And Techniques

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!

scholarly journals Characteristics of local development planning from the perspective of planning documents referring to selected tourist communes

Management ◽  
2012 ◽  
Vol 16 (2) ◽  
pp. 323-342
Author(s):  
Andrzej Rapacz ◽  
Daria E. Jaremen
Keyword(s):  
Strategic Planning ◽  
Public Management ◽  
Swot Analysis ◽  
Planning Process ◽  
Local Development ◽  
Development Planning ◽  
External Financing ◽  
Management Tools ◽  
Practical Usefulness ◽  
Tools And Techniques

Abstract Characteristics of local development planning from the perspective of planning documents referring to selected tourist communes Local development planning (including the preparation of planning documents) as well as undertaking initiatives and tasks supporting local development (resulting from planning documents) play the key role in local development steering process. The objective of the hereby paper is to analyze planning documents prepared for the selected territorial self-government units (four tourism oriented communes located in Lower Silesia region) in relation to strategic planning qualities identification in particular communes and referring these qualities to the conditions of effective strategic planning (discussed in literature on public management). The conducted research results confirm that many strategic planning qualities, in the selected communes, may be responsible for lowering its effectiveness. The ones, which are mainly responsible for counteracting effective planning, are as follow: reducing SWOT analysis to just the method for listing strengths and weaknesses of communal development potential, as well as presenting only the opportunities and threats; the absence of new management tools and techniques application, including the scenario oriented method; uncritical transfer of patterns from strategies prepared for other communes and referring to planning documents more as the condition for obtaining external financing sources rather than an actual programme facilitating the accomplishment of developmental goals. In spite of the above, the improvement of planning process has been observed in communes, which in consequence should result in higher level of local development programmes practical usefulness.

Operationalising Vision and Mission

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.

Operationalising Vision and Mission

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.

scholarly journals Mission Statements in Port Authorities: Empirical Analysis of Content in Spanish Port System

2019 ◽  
Vol 8 (2) ◽  
pp. 235-245
Author(s):  
Ignacio De la Peña Zarzuelo ◽  
María Jesús Freire-Seoane ◽  
Beatriz López-Bermudez
Keyword(s):  
Strategic Planning ◽  
Planning Process ◽  
Mission Statement ◽  
Mission Statements ◽  
Point Of View ◽  
International Standards ◽  
Business Practices ◽  
Theoretical Point ◽  
Port Authorities ◽  
Port System

Introduction: A structured Strategic Planning process has been developed in the Spanish Port System since 1990s. One of the first elements of this process is the formulation of the mission statement of each Port Authority. Aim: An in-depth review of the mission statements of the Spanish Port Authorities is carried out in this research, and mission statements are assessed from a theoretical point of view. The goal of the study is to discuss how mission statements of these entities are aligned with the international standards. Methods: Mission statements are captured from public sources. Two criteria are used for the assessment: its content (analyzing if the mission statement reflects nine key elements usually considered internationally), and its length (number of words). As the first component is qualitative, a Delphi method was used in the assessment of this element. Results: The mission statements of these Port Authorities reflect more frequently than the benchmark omparison made by over 50 companies seven of the nine key elements. The only two fields in which Spanish Port Authorities show a negative gap are those related to "technology” and “concern of employees”. In terms of length, the average of 32 words is shorter than the 50-100 words recommended by some authors. Conclusions: The Strategic Planning in the Spanish Port Authorities is a long and well -structured process. Port Authorities are essentially market-oriented public organisms and their mission statements seems to be properly formulated following business practices in terms of their content.

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

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

scholarly journals An Empirical Analysis of Employee Commitment and Impact of Mission Statements

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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