The success of the organization largely depends on proper formulations and implementation of planning.In the light of this statement,discuss the tools for planning.
Answers
Explanation:
Everything you need to know about the strategic planning. Strategic planning means planning for strategies and implementing them to achieve organisational goals.
It starts by asking oneself simple questions like- What are we doing? Should we continue to do it or change our product line or the way of working? What is the impact of social, political, technological and other environmental factors on our operations? Are we prepared to accept these changes etc.?
Strategic planning helps in knowing what we are and where we want to go so that environmental threats and opportunities can be exploited, given the strengths and weaknesses of the organisation.
Answer:
Strategy formulation includes planning and decision making involved in developing organization's strategic goals and plans.
Strategy implementation involves all those means related to executing the strategic plans.
Explanation: In short strategy formulation is placing the forces before the action.