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For strategic planning to work, it needs to include some formality (i.e., including an analysis of the internal and external environment and the stipulation of strategies, goals and plans based on these analyses), comprehensiveness (i.e., producing many strategic options before selecting the course to follow) and careful stakeholder management ...
Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic ...
The planning processes of most best practice organizations not only define what will be accomplished within a given time-frame, but also the numbers and types of human resources that will be needed to achieve the defined business goals (e.g., number of human resources; the required competencies; when the resources will be needed; etc.).
It involves activities such as strategic planning and strategic thinking. [ 6 ] Henry Mintzberg from McGill University defined strategy as a pattern in a stream of decisions to contrast with a view of strategy as planning, [ 7 ] . while Max McKeown (2011) argues that "strategy is about shaping the future " and is the human attempt to get to ...
The sum total of the activities and choices required for the execution of a strategic plan [1] Operationalisation of a clearly articulated strategic plan [2] All the processes and outcomes which accrue to a strategic decision once authorisation has been to go ahead and put the decision into practice [3]
Hence work on target operating models should be closely linked to strategy work. Form follows function; in other words target operating models follow strategy. A target operating model project typically also includes the roadmap over time that specifies what the company needs to do to move from the "as is" to the "to be". [5]
Hoshin Kanri (Japanese: 方針管理, "policy management") [1] is a 7-step process used in strategic planning in which strategic goals are communicated throughout the company and then put into action. [2] [3] The Hoshin Kanri strategic planning system originated from post-war Japan, but has since spread to the U.S. and around the world.
The strategic planning component came into play as a result of companies recognizing the need to consider HR needs in goals and strategies. HR directors commonly sit on company executive teams because of the HR planning function. Numbers and types of employees and the evolution of compensation systems are among elements in the planning role. [27]