Various stages in strategic planning with an illustration
Answers
Answer:
The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and strategymonitoring.
1)Clarify Your Vision. The purpose of goal-setting is to clarify the vision for your business. ...
2)Gather and Analyze Information. ...
3)Formulate a Strategy. ...
4)Implement Your Strategy. ...
5)Evaluate and Control.
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Answer:
Objectives of planning: Thinking beforehand for smooth conduct of any programme is planning. We prepare well in advance for proper execution of work and there is no chaos.
Planning
(a) provides direction which saves time.
(b) reduces risk of uncertainty.
(c) reduces overlapping and wasteful activities.
(d) promotes innovative ideas.
(e) facilitates decision making.
(f) establishes standards of controlling.
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