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K&N's Food Pvt Ltd

In: Business and Management

Submitted By zubash
Words 6693
Pages 27
K & N’s Foods Private Limited | March 12
2012
| Strategic Business Plan | Zubash Jawed080612BBA-8A |

PREFACE

INTRODUCTION
STRATEGIC MANAGEMENT PROCESS
Strategic management of an organization entails three ongoing processes: Analysis, Decision and Actions. In Analysis, the strategic goals (vision, mission and goals) along with internal and external environmental of the organization are analyzed. In decisions, the managers must take two important decisions regarding which industries to compete in and how to compete in the selected industry? And finally some actions should be taken because decisions are of little use unless they are acted on.
At the heart of strategic management is a very important question: “How and why do some organizations outperform others?” So the managers have a challenge to decide on strategies that provide advantages that can be sustained over time.
Mr. Robert Lamb defines strategic management as: an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment.
IMPORTANCE OF STRATEGIC PLANNING TO A BUSINESS
Strategic planning is critical to business success. Different from classic business planning, the strategic variety involves vision, mission and outside-of-the-box thinking. Strategic planning describes where you want your company to go, not necessarily how you're going to get there. However, like all other "travel plans," without knowing where you want to go,...

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