How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Achowalogen Your Own Question

Achowalogen
Achowalogen, Teacher
Category: Homework
Satisfied Customers: 287
Experience:  20 years in business, MA, Teaching or Teacher's Assistant since 2001
25753830
Type Your Homework Question Here...
Achowalogen is online now
A new question is answered every 9 seconds

What is strategic planning What is the purpose of strategic

Customer Question

What is strategic planning? What is the purpose of strategic planning? Why is it necessary? What are the components of a strategic plan? Which component is the most important? Why?

please complete by friday morning 10:00 am est time thanks
Submitted: 4 years ago.
Category: Homework
Expert:  Achowalogen replied 4 years ago.
I answered almost the exact same thing for someone else a week or less ago, I would suggest you go through and put it into your own words a bit to make sure no one gets too picky....

What is strategic planning?


Strategic planning determines where an organization is going over the next year or more, how it's going to get there and how it'll know if it got there or not. The focus of a strategic plan is usually on the entire organization.
(SOURCE: http://managementhelp.org/plan_dec/str_plan/str_plan.htm)

What is the purpose of strategic planning?

The purpose of strategic planning is to set your overall goals for your business and to develop a plan to achieve them. It involves stepping back from your day-to-day operations and asking where your business is headed and what its priorities should be.

Taking the decision actively to grow a business means embracing the risks that come with growth. Spending time on identifying exactly where you want to take your business - and how you will get there - should help you reduce and manage those risks. (Source:http://www.businesslink.gov.uk/bdotg/action/detail?type=RESOURCES&itemId=1079687246)

Why is it necessary?

Strategic planning will help you foresee and react quickly to market changes and opportunities. Routine strategic planning helps you see opportunities earlier and set up contingency plans so threats are minimized. (Source: http://8secrets.biz/wordpress/?p=5)

What are the components of a strategic plan?

  • Defining a vision for success
  • Seeing what is happening in the world that will affect your business
  • Setting long term objectives (1-5 years)
  • Setting short term goals (less than one year)
  • Monitoring progress and following through
  • (Source: http://8secrets.biz/wordpress/?p=5)

    Which component is the most important?

    Long Term Objectives (LTO)

    Why?

    If you do not know LTO you cannot look at the environment you will be working in. Without that you cannot set your short term goals based on what you see happening around you. And without the two of those you do not know how to monitor for success and figure out what measurememnts you need to determine success.

    Some will tell you the vision statement is most important, but even in a classroom for one year, I sit with the entire year's guide, figure what I'll have happening, make adjustments to the testing and assessment ideas (monitoring) so I know what the kids want to put in their vision statement when we start the year.
    Achowalogen, Teacher
    Category: Homework
    Satisfied Customers: 287
    Experience: 20 years in business, MA, Teaching or Teacher's Assistant since 2001
    Achowalogen and 2 other Homework Specialists are ready to help you
    Customer: replied 4 years ago.
    Thanks very detail what I was looking for
    Expert:  Achowalogen replied 4 years ago.
    THIS ANSWER IS LOCKED!
    You can view this answer by clicking here to Register or Login and paying $3.
    If you've already paid for this answer, simply Login.

    JustAnswer in the News:

     
     
     
    Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
    JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
    Web sites like justanswer.com/legal
    ...leave nothing to chance.
    Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
    Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
    I will tell you that...the things you have to go through to be an Expert are quite rigorous.
     
     
     

    What Customers are Saying:

     
     
     
    • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
    < Last | Next >
    • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
    • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
    • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
    • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
    • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
    • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
    • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
     
     
     

    Meet The Experts:

     
     
     
    • Manal Elkhoshkhany

      Tutor

      Satisfied Customers:

      4520
      More than 5000 online tutoring sessions.
    < Last | Next >
    • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

      Manal Elkhoshkhany

      Tutor

      Satisfied Customers:

      4520
      More than 5000 online tutoring sessions.
    • http://ww2.justanswer.com/uploads/LI/lindaus/2012-6-10_04811_IMG20120609164157.64x64.jpg Linda_us's Avatar

      Linda_us

      Finance, Accounts & Homework Tutor

      Satisfied Customers:

      3121
      Post Graduate Diploma in Management (MBA)
    • http://ww2.justanswer.com/uploads/ComputersGuru/2010-02-13_051118_Photo41.JPG LogicPro's Avatar

      LogicPro

      Engineer

      Satisfied Customers:

      3035
      Expert in Java C++ C C# VB Javascript Design SQL HTML
    • http://ww2.justanswer.com/uploads/lanis/2009-4-1_233717_phput9xef_c1pm.jpg Lani S.'s Avatar

      Lani S.

      Tutor

      Satisfied Customers:

      2457
      Registered Nurse, Internet Researcher, Private Tutor
    • http://ww2.justanswer.com/uploads/chooser77/2009-08-18_162025_Chris.jpg Chris M.'s Avatar

      Chris M.

      M.S.W. Social Work

      Satisfied Customers:

      2341
      Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)
    • http://ww2.justanswer.com/uploads/JawaadAhmed/2009-6-27_12137_SIs_SHadi.jpg F. Naz's Avatar

      F. Naz

      Chartered Accountant

      Satisfied Customers:

      1975
      Experience with chartered accountancy
    • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg Bizhelp's Avatar

      Bizhelp

      CPA

      Satisfied Customers:

      1873
      Bachelors Degree and CPA with Accounting work experience
     
     
     

    Related Homework Questions