Strategic Planning

 BIBLIOGRAPHY https://corporatefinanceinstitute.com/resources/knowledge/strategy/strategic-planning/ https://www.bbgbroker.com/strategic-planning-process-6-steps/ https://gestion.pensemos.com/que-es-la-planeacion-estrategica-y-para-que-sirve https://balancedscorecard.org/strategic-planning-basics/ https://en.wikipedia.org/wiki/Strategic_planning

The strategic planning process is essentially a list of steps that managers should follow to complete and implement a strategy within a company. There are several key components that make up the strategic planning process, including common phases like strategic analysis and strategy formulation, along with implementation and monitoring. Although the strategic planning process requires great patience and can be a challenging undertaking, most businesses can agree that the process can yield highly rewarding results. Here is a closer look at the individual stages of the strategic planning process and how they affect your business.  1. Identify Your Strategic Position The first stage prepares you for the rest of the strategic planning process. To achieve your goals, you must first have a clear vision. Start by defining both your short-term and long-term objectives. In short, what do you hope to achieve? Next, determine what steps you will take to accomplish these objectives. When ident...

 BENEFITS OF STRATEGIC PLANNING Allows your organization to act proactively and not reactively. Give the whole team a sense of direction. Increase profitability and market share of the business. Increase business longevity. Increase job satisfaction by giving meaning and purpose. Establish differentiation and avoid competitive convergence. Allows you to make better decisions. Increase operational efficiency. Identify and establish priorities for the organization. Establish a structure to coordinate and control activities. Reduces adverse effects and changes. Allows all decisions to be aligned with the objectives. Reduce time and resources spent correcting poor decisions. It facilitates the distribution of time and resources. Encourage better communication between team members. It gives a basis for establishing individual responsibilities. It offers an operational method to deal with problems and opportunities. Encourage a good attitude towards change. Provides a high degree of disc...

 WHAT IS STRATEGIC PLANNING? Strategic Planning is a management tool that allows establishing the task and the path that organizations must travel to achieve the planned goals, taking into account the changes and demands imposed by their environment. In this sense, it is a fundamental tool for decision-making within any organization. Thus, Strategic Planning is an exercise in the formulation and establishment of objectives and, especially, of the action plans that will lead to achieving these objectives. WHAT STRATEGIC PLANNING IS NOT Strategic Planning is not a prediction or forecasting tool about trends or events that will happen in your organization. Although it is true that to prepare strategic planning, financial, production, etc. forecasts are usually taken into account. Strategic Planning not only involves future decisions but also current and daily decisions that affect the future. Strategic Planning does not eliminate risks, it only identifies them and provides tools for b...

 WHY MAKE STRATEGIC PLANNING? Because Strategic Planning provides a real framework for both the leaders and the members of the organization to understand and evaluate the situation of the organization. This helps to align the team so that they use a common language based on the same information, which will help to emerge profitable and valuable alternatives for the organization. The strategic plan of an organization establishes the work of each member, which guarantees that the actions of each one are directed towards the fulfillment of future goals. (Also know the common mistakes in the Strategic Planning of an organization)

 INTRODUCTION Every company designs strategic plans to achieve its objectives and goals, these plans can be short, medium and long term, depending on the size and magnitude of the company. That is, its size, since this implies that the amount of plans and activities must be executed by each operating unit, whether at higher or lower levels. It should be noted that the budget reflects the result obtained from the application of the strategic plans, it is to be considered that it is essential to know and correctly execute the objectives in order to achieve the goals set by the companies. It is also important to note that the company must accurately and carefully specify the mission that will govern the company, the mission is fundamental, since it represents the operational functions that it will execute in the market and will supply consumers.