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Strategic Planning

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Introduction

Miss Smith Niya Brock Business Studies Task 3 In this task I am going to talk about strategic planning. Strategic planning is basically the businesses aims and objectives. Strategic planning is an organization's process of defining its strategy, aims and objectives, direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Various business analysis techniques can be used in strategic planning, including SWOT analysis. Strategic planning is a process that businesses do to try to drive and improved future results in the business by influencing the outside world or adapting current processes, decisions and programs so as to have more favorable outcomes in the external environment. Strategic Planning Tescos is a UK based international grocery and general merchandising retail chain. Their HQ is located in Cheshunt, England UK. Tescos originally specializing in food, it has diversified into areas such as discount clothes, consumer electronics, consumer financial services. Tescos currently have 273,024 employees which are on the rise because of the increases of new stores and also a large increase in profits. ...read more.

Middle

Strategic Planning Model This is a model I have designed of the three simple steps to strategic planning Strategic Analysis Strategic Analysis can include conducting some sort of scans, or reviews, of the organization. Planners in Tescos and the NHS carefully consider various driving forces in the environment, for example, increasing competition and changing strategies. Strategic planners at Tescos also look at the various strengths, weaknesses, opportunities and threats regarding the organization. Strategic planners in Tescos and the NHS carefully come to conclusions about what Tescos and the NHS must do as a result of the major issues and opportunities it faces. These conclusions include what overall accomplishments Tescos and the NHS should achieve, and the overall methods to achieve the accomplishments. Objectives and goals at Tescos and the NHS should be designed and worded as much as possible to be specific, measurable, acceptable to those working to achieve the goals, realistic, timely, and rewarding to them, as well. At some point in the strategic planning process strategic planners usually identify or update what might be called the strategic "philosophy". ...read more.

Conclusion

On a personal level, setting goals is a process that allows people to specify then work towards their own objectives - most commonly with financial or career-based goals. SWOT Analysis SWOT Analysis is a superior technique for identifying Strengths and Weaknesses in certain businesses like Tescos and the NHS. Swot analysis help businesses develop in a way that takes best advantage of their talents, abilities and opportunities. What makes SWOT particularly powerful is that with a little thought, it can help businesses to uncover opportunities that they are well placed to take advantage of. And by understanding their weaknesses, they can manage and eliminate threats that would otherwise catch them unawares. Therefore it decreases the chances of mistakes therefore increasing productivity which increases sales which increase profit. The Strengths and Weaknesses for Tescos and the NHS may include: * Resources: financial, location * Cost advantages from proprietary know-how and/or location * Creativity (ability to develop new products) * Competitive capabilities * Effective recruitment of talented individuals Opportunities and threats for Tescos and the NHS may include: * Expansion or down-sizing of competitors * Market trends * Economic conditions * Expectations of stakeholders * Technology * Public expectations * Criticisms by outsiders * Changes in markets ...read more.

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