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Strategic planning and implementation

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  1. Introduction
  2. Management strategy
    1. Balanced scorecard analysis
    2. Scenario planning
    3. Simulation modeling
    4. Sensitivity analysis
  3. The basic considerations in selecting a strategy
    1. Company goal
    2. Resources available
    3. Cost benefit analysis
    4. Sensitivity analysis
    5. Scenario planning
    6. Business ethics
    7. Simulation modeling
    8. Company target
  4. Business codes and ethics
    1. Environmental issues
    2. Cultural issues
    3. Social issues
    4. Background
  5. Implementation of the strategy
  6. Conclusion
  7. References

In today's industrial market, the level of competition is increasing by the day and along with it, the difficulty of survival. We are seeing the Darwin's theory of Survival at its best. If you are not the best and don't evolve according to your surroundings, you would not thrive the environmental conditions and you would be extinct. That's true, before making it big, you need to survive. You need to know how to thrive in the market. Survival per se takes up lot of effort coupled with intelligence now. And so the big strong companies and even the smaller companies that are cropping up every now and then are coming to realize the significance of Strategic Planning and Implementation.

In a successful company, apart from the administration and the execution development, a different team is hired, leaving alone the important yet underestimated unsung-of pieces. That different team is the research and development team. They are mainly like the well-wishers cum ministers in a king's court who used to assist the king in making his important day-to-day decisions on his subjects.

[...] Implementation of the strategy There are three steps to the implementation of the strategy: Actual strategic execution Encouraged dissemination and participation Evaluation and monitoring In the first phase, you need to start at your home that is your organization. You need to obtain a broad agreement from the others on the project and the respective strategy drawn out. The participation of the stakeholders are important and when they are a part of the very own family carrying out the task, it is all the more important. [...]


[...] Though these are not a part of the management, they sure play an vital role in the strategic planning and implementation program. Now who are the stakeholders? Stakeholders, in the simplest of words, are the people or organizations that have some interest in the well-being of the company. They have staked something on the performance and success of the business company. They are affected by the company actions and on the other hands, profit from the viability of the goods and services of the company. [...]


[...] This is the basis to the strategizing and planning ahead. One of the most important parts of the feasibility study is the risk assessment. Business is all about taking risks but there should be a little addition to it it should be ?calculated risks'. If the present internal and external conditions are not assessed and the interests of the stakeholders are put up without any thought, that's going to be disastrous. In the risk assessment phase, you check the market risks involved and also analyze the reach of the risks to decide on your strategy or even, decide on whether to set foot in it or not. [...]

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