Week 1 Project

South University

file:///C|/Users/CWATKIM/Desktop/Strategic%20Planning%20Process.html[2/20/2020 10:38:26 PM]

Strategic Planning Process When thinking of the best analogy for strategic planning that organizations use to compete, we may use chess to illustrate the methods used by executives to move their organizations forward. Like chess, strategies can be reactive or proactive. Strategies may be reactive, such as when there are changes in various environments: legal, economics, political, sociocultural, competitive, etc. Strategies may be proactive, such as when an organization enters new markets, introduces new products/services, or withdraws from competing within a specific industry. Just like in chess, organizations make strategic moves through a well-created and executed plan, the competition contemplates how to react with their strategy, and there is back and forth movement for advantage.

The strategic planning process requires thinking and planning ahead. Good chess players do this—they calculate their strategy depending upon how a game unfolds. If the game is moving slowly, chess masters focus on conceptual plans. When the game is more defensive, a chess master will think ahead by several moves.

You have to make strategic moves to win the game. There are rules in the game and you can change the rules, but that is not recommended. You start any game at the beginning and follow a series of steps to achieve a singular or set of results. You miss some steps and you might lose some grounds that you did not wish or plan to lose. The same idea applies to the strategic planning process.

The basic rules for the strategic planning process includes the following rules:

1. Understand your current environment (Assess)

2. Identify your resources—what is available to you to work with? (Tools)

3. Recognize where you want or need to go (Goals)

4. Determine how you will get there (Path)

Additional Materials

From your course textbook, Managing Employee Performance and Reward (2nd ed.), read the following chapters:

Performance and reward basics

Managing for engagement

Strategic alignment

South University

file:///C|/Users/CWATKIM/Desktop/Strategic%20Planning%20Process.html[2/20/2020 10:38:26 PM]

Managing for results

From the Internet, read the following articles:

Forbes. (n.d). Five steps to a strategic plan. Retrieved from http://www.forbes.com/sites/aileron/2011/10/25/five-steps-to-a-strategic-plan/#4023692361af

Hitt, M.A., Ireland R.D., Hoskisson R.E. (2007). Strategic management, competitiveness and globalization concepts. Mason, OH: Thompson Higher Education. Retrieved from https://kafebisnis2010.files.wordpress.com/2011/11/strategic-manag-concept-n-case-hitt-et-al.pdf

On Strategy. (n.d.). Essentials guide to strategic planning. Retrieved from http://onstrategyhq.com/resources/strategic-planning-process-basics/