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    Session - 01 Introdcution To Strategic Planning

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    sabinanth63
    This document discusses strategic planning for small businesses. It begins by defining a business and outlining their key roles in supplying goods/services, job creation, quality of life, and economic growth. The document then discusses the strategic planning process for small businesses, including setting goals to guide the business, creating a vision and mission statement, and developing strategies to get from the current to desired future state. Specific strategies around products/services, processes, location, pricing, marketing, personnel are needed. Resources and budgets with timelines are required to implement the strategies and achieve goals. Assessing the current position is the first step, followed by establishing a vision for the desired future state and a mission statement for stakeholders. Go

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    Session - 01 Introdcution To Strategic Planning

    Uploaded by

    sabinanth63
    38 views16 pages
    This document discusses strategic planning for small businesses. It begins by defining a business and outlining their key roles in supplying goods/services, job creation, quality of life, and economic growth. The document then discusses the strategic planning process for small businesses, including setting goals to guide the business, creating a vision and mission statement, and developing strategies to get from the current to desired future state. Specific strategies around products/services, processes, location, pricing, marketing, personnel are needed. Resources and budgets with timelines are required to implement the strategies and achieve goals. Assessing the current position is the first step, followed by establishing a vision for the desired future state and a mission statement for stakeholders. Go

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    Session - 01 Introdcution to Strategic Planning

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    This document discusses strategic planning for small businesses. It begins by defining a business and outlining their key roles in supplying goods/services, job creation, quality of life, and economic growth. The document then discusses the strategic planning process for small businesses, including setting goals to guide the business, creating a vision and mission statement, and developing strategies to get from the current to desired future state. Specific strategies around products/services, processes, location, pricing, marketing, personnel are needed. Resources and budgets with timelines are required to implement the strategies and achieve goals. Assessing the current position is the first step, followed by establishing a vision for the desired future state and a mission statement for stakeholders. Go

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    38 views16 pages

    Session - 01 Introdcution To Strategic Planning

    Uploaded by

    sabinanth63
    This document discusses strategic planning for small businesses. It begins by defining a business and outlining their key roles in supplying goods/services, job creation, quality of life, and economic growth. The document then discusses the strategic planning process for small businesses, including setting goals to guide the business, creating a vision and mission statement, and developing strategies to get from the current to desired future state. Specific strategies around products/services, processes, location, pricing, marketing, personnel are needed. Resources and budgets with timelines are required to implement the strategies and achieve goals. Assessing the current position is the first step, followed by establishing a vision for the desired future state and a mission statement for stakeholders. Go

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    of 16

    Session - 01

    Ms. Prasangika Maithripala


    Management Consultant/Lecturer
    National Institute of Business Management
    What is a “Business”?

    The production and distribution of goods


    and/or services to satisfy the needs and wants
    of the consumer at a profit.
    Role of "Business”?

    ❑ Supply of goods and services


    ❑ Creation of job opportunities
    ❑ Offer better quality of life
    ❑ Contributing for the growth of the country
    ❑ Taking the nation to the global market
    Discussion questions ??
    Three big strategic
    questions
    1. What’s the company’s current situation?
    2. Where does the company need to go from here?
    3. How should it get there?
    – A company’s answer to “how
    will we get there?” is its strategy
    A question for you:
    Why do some small business
    succeed and some fail?
    Strategic Planning: These are decisions you make about
    investing resources TODAY in order to maximize
    performance in the FUTURE.

    Example?
    How do small businesses
    undertake strategic planning?
    1. Start with goals – what do I want out of my small business?
    2. Create a vision of what the business needs to look like in order to
    accomplish your goals.
    3. Create a mission to guide how you will serve your stakeholders along
    the way.
    4. Develop strategies to get you from where you are now to where you
    want to be in the future. Strategies require investments – which
    means budgets and timelines.
    Goal Setting
    Life is a series of investments…you make
    decisions about where to spend your time
    and energy. Give some thought to what types
    of outcomes would make you happy.

    Setting specific, measurable, assignable,


    realistic, and time-bound (SMART) goals leads
    to personal and business growth.
    A goal setting process
    Effective goals are part of a process:

    1. Set goals.
    2. Determine costs and benefits of goal achievement
    3. Establish measurement tools
    4. Periodically reassess and adjust goals as needed
    5. Enjoy achievement of goals
    6. Set new goals
    From goals to strategies
    Goals are a big part of the strategy process…once you have your
    goals set, here is a typical strategy process:
    a) Assess your current business position (honestly!)
    b) Assess your desired future position – this is your vision
    statement.
    c) How will you treat stakeholders? This is your mission
    statement
    d) Develop specific strategies (products, services, business
    processes, location, pricing, marketing, people, etc).
    e) Identify resources will we need to get from current to desired
    future position (and attain your goals)? Create a budget and
    timeline.
    a) Assess your current
    position
    Where are we?
    • Who are we serving (customers)?
    • What products and services are we
    offering?
    • Are we providing a good value for our
    customers?
    Vision
    • How large and how broad do we need to
    get to accomplish these goals?
    • How will we need to position ourselves
    against rivals?
    The Mission Statement
    Decisions about size, scope, and
    competitive position
    How large will we need to become?
    How will we grow? (Acquisitions, alliances, internal growth?)
    How broad will our product/service line need to be?
    How will we need to position ourselves against rivals?
    How will we manage our costs?

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