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Strategic planning And Environmental & External influences

Strategic planning And Environmental & External influences. Presented by Reem haroun _120050334 Soher Al-Mursheidi_120080089. Strategic Planning. Strategic Planning.

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Strategic planning And Environmental & External influences

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  1. Strategic planning And Environmental & External influences Presented by Reem haroun _120050334 Soher Al-Mursheidi_120080089

  2. Strategic Planning

  3. Strategic Planning • Is a management tool to help an organization continuously make risk-taking decisions systematically. By focusing on the same goals, an organization can assess and adjust its direction in response to changes in the environment. • Organize the efforts needed to carry out decisions • Take actions that will systematically guide what it does and why it does it • Measure the results of these decisions against expectations through organized systematic feedback • Focus on the future

  4. Successful Planning Is • Based on information • Scheduled • Supported by the person "at the top“ • Continued persistently • Integrated and comprehensive • Focused • Adapted to the context

  5. Components of a Strategic Plan • Mission statement — the fundamental purpose • Situation analysis — examination of external and internal factors such as strengths, weaknesses, opportunities, and threats (SWOT) • Objectives — establishment of broad long-term goals • Strategy statement or action plan — a detailed management action plan with operational strategies • Tactics or short-term plans — specific tactics for day-to-day activities • Controls or measures of progress — assesses how individuals and groups are performing

  6. Strategic Planning Steps • Environmental analysis • Critical process audit • Current resource inventory • Values clarification • Mission definition • Vision building • Strategic goal development • Strategy-to-action planning • Feedback system development • Reality check • Marketing the plan • Implementing, reviewing, and adjusting the plan

  7. External influences

  8. Types of external influences Business competitors Economic conditions Environmental constraints “ All these influences can affect the way a business operates. “

  9. Business competitors • Competitors may: • Raise/lower their prices • Introduce more advanced goods/better service • Move into the area • Offer additional facilities, eg open later.

  10. Competitive features • The price of the product/service • The quality of the goods/service or the reputation of the business • The availability of the goods/service • Technological developments • Additional benefits/services

  11. Economic conditions • Interest rates : The interest rate is the cost of borrowing money. • Price changes : Price rises = inflation • Exchange rates : The exchange rate is the cost of foreign currency.

  12. Environmental constraints • Laws and regulations on the environment affect business activities • Many organisations have environmental policies

  13. Summary • External influences affect business activities • Some are unpredictable • External influences change regularly • Businesses must take action to cope

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