The second approach is that developed by Urwick Orr & Partners Ltd., which is illustrated in above figure with the steps which lead up to it. Here we have a system which, although it highlights certain factors that are different from those emphasised in the two earlier approaches, is still covering the same ground and, at the final analysis, is suggesting much the same thing.
The Urwick Orr approach links closely with management by objectives, the process for which is described later. The meanings of ‘strategic’ and ‘tactical’ have been given earlier in the reference from Lander. A strategic management system and its parts may be compared to a car engine. A few refinements may be added to give an improved performance: an occasional nut or bolt might drop off without making much difference to running. If the water tank bursts or the fan belt breaks, the engine will still operate in the short term although ultimately this will lead to severe damage. Most parts, although they may not look very important, will cause complete and immediate failure if removed. To understand any component it must be examined and studied individually – but it can only be used when related back to the total engine.
So it is with strategic management. Some modifications may improve the system; there is latitude in one or two minor areas. The system may appear to work in the short term even if certain key parts are neglected, but in the long term will destroy itself.
Scenario Planning :
Scenario planning, also called scenario thinking or scenario analysis, is a strategic planning method that some organizations use to make flexible long-term plans. It is in large part an adaptation and generalization of classic methods used by military intelligence. The original method was that a group of analysts would generate simulation games for policy makers. The games combine known facts about the future, such as demographics, geography, military, political, industrial information, and mineral reserves, with plausible alternative social, technical, economic, environmental, educational, political and aesthetic (STEEEPA) trends which are key driving forces.
In business applications, the emphasis on gaming the behavior of opponents was reduced (shifting more toward a game against nature). At Royal Dutch/Shell for example, scenario planning was viewed as changing mindsets about the exogenous part of the world, prior to formulating specific strategies. Scenario planning may involve aspects of Systems thinking, specifically the recognition that many factors may combine in complex ways to create sometime surprising futures (due to non-linear feedback loops). The method also allows the inclusion of factors that are difficult to formalize, such as novel insights about the future, deep shifts in values, unprecedented regulations or inventions. Systems thinking used in conjunction with scenario planning leads to plausible scenario story lines because the causal relationship between factors can be demonstrated. In these cases when scenario planning is integrated with a systems thinking approach to scenario development, it is sometimes referred to as structural dynamics.
These combinations and permutations of fact and related social changes are called Scenarios . The scenarios usually include plausible, but unexpectedly important situations and problems that exist in some small form in the present day. Any particular scenario is unlikely. However, future studies analysts select scenario features so they are both possible and uncomfortable. Scenario planning helps policy-makers to anticipate hidden weaknesses and inflexibilities in organizations and methods.
When disclosed years in advance, these weaknesses can be avoided or their impacts reduced more effectively than if similar real-life problems were considered under duress of an emergency. For example, a company may discover that it needs to change contractual terms to protect against a new class of risks, or collect cash reserves to purchase anticipated technologies or equipment. Flexiblebusiness continuity plans with preresponse protocols help cope with similar operational problems and deliver measurable future value-added.
Elements of a business plan :lemts of a bus
A business plan is a description of the business, a road map that will help you get to your desired destination. It gives you an idea of the obstacles that lie ahead and can point out possible alternate routes. One of the major benefits you will receive from developing a business plan is getting to thoroughly know your industry and market. A well prepared business plan will not only assist in plotting a course for the company, it can also serve as a vital sales tool.The following are the major elements of a business plan:
Description of Company
Product or Service
If you are looking for financial assistance, lenders will want to know where you will get financing for your business and how you will spend the money. They will also want to see historical records for the past three to five years.
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Strategic Management Tutorial
From Planning To Strategic Management And Beyond
Strategic Management: Success Or Failure?
A Look At The Total Process
The Challenge Of The Future
The Environment: Assumptions In Planning
Techniques For Assessing The Environment
Business Philosophy (ethics And Morality) And Strategic Management
The Corporate Appraisal – Assessing Strengths And Weaknesses
Analysing The Industry And Competitors
Analysing The Uk Management Development And Training Industry: A Case History
The Search For Shareholder Value
Vision And Objectives
Strategic Portfolio Analysis
Portfolio Analysis In Practice
Strategic Planning – A Second Look At The Basic Options
Multinational And Global Strategy
Technology And Manufacturing
Strategic Planning For Human Resources
Relating To The External Environment
Evaluating A Business Plan
Project Planning And Appraisal
From Plans To Actions
Management Of Change
Introducing Strategic Management
Why Planning Sometimes Fails
Strategic Management To Strategic Change?
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