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Stratigic Planning

In: Business and Management

Submitted By nessymarie
Words 986
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Setting and Achieving Goals

The process of strategic planning in an organization is imperative to ensure the survival and growth of an organization. Strategic planning helps to analyze the environment and other factors that might affect the smooth running of an organization. It also tries to rectify any issues in the organization that may cause it to fail and can give the organization a competitive advantage. According to an article in Public Relation’s Tactics “A plan’s design should be dictated by the organization.” (Newsome, 2008, p. 16) In undergoing the process of strategic planning two sub-processes come into play which are namely BSTEP analyses and SWOT analyses, and these two make up strategic planning.

PEST (Political, Economic, Social, Technological)("PEST," 1999-2010) analyses management will analyzing the companies industry paying particular attention to company goals and whether achieving goals set is viable for that industry. Management will also monitor competitor’s behaviors and compare standards of outputs as to competitors, to ensure that standards being used are better than those of competitor companies. This will ensure the organization grows because the organization will constantly keep their rivals under check .It also promotes alertness and competition thus driving them to produce better products and or services.

PEST also pays attention to the socio-cultural side of their market which is a key step in the growth and survival of an organization. Here management would be analyzing and taking into consideration the values of their targeted market. For example if it is a clothing company such as Justice for girls, analyzes the type of clothing that is worn by the culture of its targeted market. If young girls are not permitted to wear short shorts and halter tops at school this may not be an area the company should focus in. The focus...

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