After reading this article you will learn about goal succession and goal displacement. Goal Succession: When new goals are added to existing goals of the organisation, goal succession is said to have taken place. Goal succession can take the following forms: 1. Add New Goals to the Existing Goals: The company may decide to add new goals to its existing [...]
This article throws light upon the eight main steps involved in the process of strategic planning. The steps are: 1. Objective Formulation 2. Analyse the Impact of Environment 3. Analyse Resource Position of the Firm 4. Establish Alternative Strategies 5. Evaluate Alternative Strategies 6. Choice of a Strategy 7. Implement the Strategy 8. Measurement and Control of Strategy. Step # [...]
After reading this article you will learn about:- 1. Meaning of Strategic Planning 2. Features of Strategic Planning 3. Importance 4. Limitations. Meaning of Strategic Planning: Strategic planning means planning for making and implementing strategies to achieve organisational goals. It starts by asking oneself simple questions like : What are we doing, should we continue to do it or change [...]