About This Chapter
Strategic Planning & Management in Business - Chapter Summary
This chapter clarifies how the strategic planning process works and what the intended purpose of each planning component is. Your employees will become familiar with:
- The four steps of the strategic management process
- Common business strategies
- Steps for strategic planning
Your employees can watch each corporate training video on strategic planning and management in about 5 minutes. Knowledge gained by managers from this chapter can be quickly assessed with the lessons' practice quizzes.
How It Helps
- Promotes organization: Managers become well-aware of the specific order of operations involved in strategic management and planning which can help them in management decision-making situations.
- Increases awareness: Those in management roles will understand that strategies being put in place require consistent monitoring so that any needed changes can be made.
- Boosts competitiveness: This chapter arms managers with planning and management skills that will fare well against competitors.
Upon completion of this chapter, managers will be able to:
- Comprehend the steps in the strategic management process
- Effectively explain different business strategies used to win customers or generate profit
- Identify numerous factors that should be considered during the planning process
1. The Strategic Management Process
We will be reviewing the strategic management process, starting with the four main steps of the process. These steps provide the foundation for understanding strategic management as a whole and will serve you well as you deal with management decision-making situations.
2. Different Types of Business Strategies
Businesses are in business to make money. In order to accomplish this objective, a business may employ different business strategies in order to win over customers and generate profit. In this lesson, you'll learn about some of the common strategies.
3. What Is the Strategic Planning Process? - Model, Steps & Examples
Strategic planning is essential for organizational success. In this lesson, you'll learn about strategic planning, including the steps in the process. A short quiz is provided after the lesson.
4. Practical Application: Strategic Planning in Business Checklist
Strategic planning is an important step to having a successful organization. Using a strategic planning checklist can help you capture all the relevant questions and their answers.
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