Process of Strategic Planning
Posted by: EssayWritingPool 1 year ago
In this project, you will demonstrate your mastery of the following competency:
- Explain the theory and process of strategic planning
You are a member of the strategic planning department at Ceiling and Visibility Unlimited (CAVU) Innovations, the current leading designer of senior citizen communication technologies. The company is growing, and its current strategic plan will end in a year in a half. As a result, new employees have been hired for your department to help with planning and developing the new five-year strategic plan. The director of your department has tasked you with creating a training presentation to educate the new employees about the philosophy of CAVU’s strategic plan.
CAVU Mission Statement:
At CAVU Innovations, we work to connect senior citizens to their family and friends through easy-to-use technology tools. Our success is defined by our ability to provide accessible technology that enables individuals to communicate in an engaging and convenient way with those they love most. By researching and adapting the most innovative technology in the country, CAVU Innovations is able to provide high-quality, affordable, and innovative technology tools to meet the unique needs of our world’s senior citizens.
The director of strategic planning for CAVU Innovations has tasked you with creating a training presentation about the company’s strategic plan philosophy for recently hired employees. For tips on how to create an effective and professional presentation, please review this resource. Your director would like the presentation to include information on the following components of the organization’s strategic plan philosophy:
- Overview of the strategic planning process
- Theory of strategic planning
- Frameworks and models of strategic planning
- Considerations and next steps in the strategic planning process
Overview of strategic planning process: CAVU Innovations expects all of its new employees to become familiar with the strategic planning process, especially the employees in your department. The first component of your presentation is to provide the new employees with an overview of the strategic planning process. Be sure to include the following:
- Explain the purpose, initial steps, and importance of the strategic planning process. Consider the following questions:
- What is a strategic plan and the strategic planning process?
- What is in a strategic planning process? Be sure to not only identify the steps, but also define each one.
- How does one begin the initial process of a strategic plan? How is brainstorming incorporated?
- Why is a strategic plan important? Why is it important for a company to follow a strategic planning process?
- Why it is important to ensure the strategic planning process aligns to the organization’s mission statement?
Theory of strategic planning:
- Describe strategic planning theory, and explain its importance to the strategic planning process.
- How does strategic planning theory inform the strategic planning process?
- How does strategic planning theory influence the choices made by an organization?
- Explain how utilizing research and aligning to theory help form best practices in strategic planning.
Frameworks and models of strategic planning: There are many different strategic planning frameworks and models. While there are no rules regarding the “right” framework or model, it is important to determine which one is the right fit for your organization. In order to properly prepare your new employees for their involvement in the selection of a framework and the planning process, include the following in your training presentation:
- Identify the components that should be included in a strategic planning framework.
- Discuss the importance of completing a thorough evaluation of existing frameworks to assess whether or not they meet the needs of the organization. Be sure to address the following questions:
- Why it is important to identify and assess a framework before using it to develop a strategic plan?
- Does the framework align to the current state and mission of the organization?
- What are the phases/attributes of the framework? Does it have all of the components that should be included in a strategic planning framework?
- Is the framework supported by strategic planning theory, and it will assist with following the steps of the strategic planning process?
- What are the benefits and weaknesses of the framework? How do the benefits support and meet the needs of the organization? How can the organization overcome any of the weaknesses?
Considerations and next steps in the strategic planning process: Now that the new employees have a strong overview of the strategic planning process and supporting theory, it is important to instruct them on the important considerations and next steps when preparing to develop a strategic plan. Include the following in your presentation:
- Discuss any important internal and/or external considerations that need to be taken into account when moving forward with the strategic planning process.
- Explain the next steps in the process after selecting a strategic planning framework.
What to Submit
Every project has a deliverable or deliverables, which are the files that must be submitted before your project can be assessed. For this project, you must submit the following:
Create a presentation 10–12-slides long, including speaker notes, that details the process, theory, frameworks/models, and considerations of strategic planning.