Date post: 2017-11-08 00:54
The process of making systematic decisions about proposed future outcomes, the process includes evaluating an organization and the environment in which it operates, establishing long-term goals, and mapping a plan to achieve the goals that have been identified. Strategic planning assumes and incorporates the likelihood of a changing environment that will require adjustments in the identified goals and the process of achieving them.
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They learn to increase their strategic intelligence by learning from their competitors, customers and suppliers to ask strategic questions, to plan for contingencies, and to engage in scenario planning" (Connie). The formal definition of strategic planning has remained constant since its creation.
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Strategic planning is an oxymoron. Strategic thinking does not lead to a plan, it leads to a strategy. Rather, planning must follow strategy. If you don&apos t want to call it operational planning, call it Planning that Follows Strategy.
Strategic plans should span at least five years. They should be reviewed annually, with a particularly thorough review at the end of the first year. A strategic plan, after all, is not simply a document it is a school 8767 s road map to the future.
&ldquo Change has considerable psychological impact of the human mind. To the fearful, change is threatening because it means that things may get worse to the hopeful, change is encouraging because things may get better. To confident, change is inspiring because the challenge exists to make thing better &ldquo King Whitney, Jr.&rdquo
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Strategic thinking uncovers potential opportunities for creating value and challenges assumptions about a company&apos s value proposition, so that when the plan is created, it targets these opportunities.
Sensitivity analysis is a method for testing the degree of sensitivity of a system or model's variables by applying incremental changes. The system can be physical or notional and represent the whole project or major element the analysis determines which variables are the most significant having the most impact on results and so helps the selection of the optimal settings or best solution.
Then calculate the monthly cost of the machine, by dividing the purchase price by 67 months per year and divide that by the 65 years the machine should last. The manufacturer's specs tell what the power consumption of the machine is and get power cost numbers from accounting then figure the cost of electricity to run the machine and add the purchase cost to get a total cost figure.