Michael Porter  Strategic planning activities include meetings and other communication among the organization's leaders and personnel to develop a common understanding regarding the competitive environment and what the organization's response to that environment its strategy should be. A variety of strategic planning tools described in the section below may be completed as part of strategic planning activities. The organization's leaders may have a series of questions they want answered in formulating the strategy and gathering inputs, such as:
Strategic information systems planning, or SISP, is based on two core arguments.
While no one disagrees with this, operations management researchers are just starting to study how this alignment takes place and what the measurable benefits are. The second core argument behind SISP is that companies can best achieve IS-based alignment or competitive advantage by following a proactive, formal and comprehensive process that includes the development of broad organizational information requirements.
Such a process is especially relevant to ERP investments, given their costs and long-term impact. Seegars, Grover and Teng 1 have identified six dimensions that define an excellent SISP process notice that many of these would apply to the strategic planning process in other areas as well: An innovative orientation emphasizes innovative solutions to deal with opportunities and threats.
An integrative orientation emphasizes control, as implemented through budgets, resource allocation, and asset management.
Top-down flow SISP should be initiated by top managers, with the aid of support staff. Broad participation Even though the planning flow is top-down, participation must involve multiple functional areas and, as necessary, key stakeholders at lower levels of the organization. High consistency SISP should be characterized by frequent meetings and reassessments of the overall strategy.
The recommendations found in the SISP literature have been echoed in the operations management literature. It has been suggested that firms should institutionalize a formal top-down planning process for linking information systems strategy to business needs as they move toward evolution in their management orientation, planning, organization, and control aspects of the IT function.The Financial Planning Process Financial planning consists of six fundamental components – Financial Management, Tax Planning, The Six Step Process to Financial Planning.
set out in writing in a formal ngagement letter or in a e Letter of Understanding, signed by both parties. Planning the next course of action (Next Steps) This section of the process is where you write down what you are going to do next.
Now that you have a potential solution or solutions you need to decide how you will make the solution happen. Six Steps to an Effective Continuous Audit Process Establishing priority areas and determining the process' frequency are two of the six steps that internal auditors and senior managers need to take into consideration before making the switch to continuous auditing.
The Writing Process Once you select a topic and complete enough research to commit yourself—at least tentatively—to your stance toward that topic, you are ready to begin writing.
Six Steps In The Formal Planning Process. Steps in the Human Resource Planning Process Designing the Management System • A crosscutting issue in human resource planning is to ensure that a proper system is in place to handle the process.
The overall aim of this system is to manage human resources in line with organizational goals. These steps cannot guarantee that the right strategic decisions will be made or that strategy will be better executed, but by enhancing the planning process—and thus increasing satisfaction with the development of strategy—they will improve the odds for success.