Home Ihm 5th sem notes Bsc Strategic Management Sem 5 What are Organizational Strategy Definition Meaning and Features

What are Organizational Strategy Definition Meaning and Features

Amit Kumar
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Organizational strategy is a dynamic long-term plan that maps the route towards the realisation of a company’s goals and vision.”

You can also look at the video below for an alternate explanation of ORGANISATIONAL STRATEGY

The Strategic Planning Process

In today’s highly competitive business environment, budget-oriented planning or forecast-based planning methods are insufficient for a large corporation to survive and prosper. The firm must engage in strategic planning that clearly defines objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track.

A simplified view of the strategic planning process is shown by the following diagram:-

THE STRATEGIC PLANNING PROCESS

 1.     Mission &
      Objectives      
  2.  Environmental  
        Scanning
  3.   Strategy
     Formulation     
  4.   Strategy
 Implementation  
  5.  Evaluation      
       & Control
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Amit Kumar
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Hii! Welcome to My digital home, I am Amit – an almost no-code generalist, helping businesses with their online presence using WordPress and other tools and simplifying some of their operations with ideas and automation. A psychology and philosophy geek by interest and a graduate in Hospitality Management. I founded hmhelp during college, which got me into WordPress. I am a highly motivated and results-oriented professional with a proven track record of success in the hospitality industry. I’m also a Digital Marketing Enthusiast with significant academic and practical experience managing digital content across multiple platforms. Skilled at SEO optimization, developing digital content for social media platforms, I offer extensive knowledge of multiple software programs, strong attention to detail, and extraordinary communication skills. If you are interested in talking about any of the topics I have mentioned on my website, you are in the right place. You can contact me or learn more about what I do. You can also connect with me on social networks.
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