USE OF STRATEGIC PLANNING TOOLS

Use Of Strategic Planning Tools

Table of Content

CHAPTER 1: INTRODUCTION3

CHAPTER 1: INTRODUCTION3

Overview5

Aims and Objectives7

Research Question7

CHAPTER 2: LITERATURE REVIEW9

Strategic Planning9

The Concept of Formal Strategic Planning Systems16

The Concept of Strategy19

The Strategic Planning Processes21

Strategic Planning Approaches23

Strategic Planning Steps25

The First Step (where are we?)25

Second Step (where do we go from here?)26

Third Step (can we get there?)28

Fourth Step (what strategies will achieve objectives?)28

Fifth Stage29

The Need for and Advantages of Strategic Planning29

Measurement of Strategic Planning Effectiveness30

Elements of an Effective Strategic Planning System33

Previous findings on the use of Strategic Planning35

Information System in Global Business Today41

It's a New World of Business42

The Role of Information Systems in Business Today45

How Information Systems are transforming Business46

Globalization Opportunities49

The Emerging Digital Firm50

Strategic Business Objectives of Information System52

Operational Excellence54

New Products, Services, and Business Models55

Customers and Supplier Intimacy56

Improved Decision Making58

Competitive Advantage59

Survival59

Perspectives on Information Systems61

What is an Information System61

Organizations69

Management72

Technology73

CHAPTER 3: METHODOLOGY79

Development and Testing of Instrument80

Development of Factors from Literature80

Predictor factors80

Personal factors81

Gender and age82

Education82

ORGANISATIONAL FACTORS82

Type of organisation82

Age in business83

Dependent factors84

Use of non-computerised strategic planning tool84

CHAPTER 4: RESULT AND DISCUSSION87

Personal Details87

Development and Testing of Instrument94

Item creation and scale development94

Measurement testing95

Instrument validity96

Instrument Reliability97

Internal Consistency99

Intraclass Correlation Coefficient (ICC)106

Factorial Analysis107

CHAPTER 5: CONCLUSION109

Use Of Strategic Planning Tools

Chapter 1: Introduction

“The longer the effect of a plan and the more difficult it is to reverse, the more strategic it is. Therefore, strategic planning is concerned with decisions that have enduring effects that are difficult to reverse. Strategic planning is long-range planning. In general strategic planning is concerned with the longest period of time worth considering. Strategic “planning deals with the futurity of current decisions. It also looks at the alternative courses of action that are open in the future; and when choices are made among the alternatives they become the basis for making current decisions”. Strategic planning “is a process of deciding in advance what kind of planning effort is to be undertaken, when it is to be done, who is going to do it, and what will be done with the results. “The more of an organization's activities that are affected by a plan, the more strategic it is...strategic planning is broad in scope. planning at the corporate level is generally more strategic than planning at any organizational level below it”.

“Decisions that are the province of strategic planning are those most important to the organization's future”. “Strategic planning is the process of deciding on the objectives of the organization, on changes in those objectives, on the resources used to obtain these objectives. Strategic planning “(1) focuses on decision situations concerned with both internal and external environments of the organization; (2) recognizes the concept and importance of positive acceptance from stakeholder groups; and (3) accepts the inevitability of rapid change in a complex external environment”. Strategic planning “is applicable to any situation as long as:

it is directly related to overall organizational purposes;

it is future-oriented;

it significantly involves uncontrollable environmental forces that affect organizational performance”.

In summary, strategic planning is the process by which an organization envisions its future and develops the necessary procedures and operations to achieve that ...