Submitted by: Submitted by dilinidahanayake
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Category: Business and Industry
Date Submitted: 11/15/2010 09:47 AM
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Steps in Strategic Planning
HRP relates to Strategic Planning at,
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• Vision, Mission and Values • Environment Analysis • Internal Analysis • Formulating Strategy • Strategy Implementation • Evaluation and Assessment
Strategy formulation Strategy Implementation
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Step 1 : Vision, Mission and Values
Mission, Vision and Values External Analysis Internal Analysis Strategy Formulation Strategy Implementation Evaluation
SWOT Analysis
– Strategic Vision A statement about where the company is going and what it can become in the future; clarifies the long-term direction of the company and it’s strategic intent – Mission The basic purpose of the org. as well as it’s scope of operations
Step 2 : Environment Analysis
– Core Values The strong and enduring beliefs and principles that the company uses as a foundation for it’s decisions.
Systematic monitoring of the major external forces influencing the organization.
2.1 General Environment
2.2 Competitive Environment
2.1 General Environment
• Economic factors (general, regional, global) • Industry and competitive trends (new processes, services and innovations) • Govt. and legislative issues (laws and administrative rulings) • Social concerns (child care, elder care, environment, educational priorities) • Demographic and labour market trends (age, composition, literacy)
2.2 Competitive Environment
New Entrants
Substitutes
Rival Firms
Customers
Suppliers
2.2.1 Customers
– Speed of delivering normal orders – Willingness to meet extraordinary needs – Merchandise delivered in good condition – Readiness to take back defective goods and re-supply new goods quickly – Availability of installation and repair services and parts
2.2.2 Rival Firms
– Examining the nature of competition – Who is our competitor???
2.2.3 New Entrants
– Entry barriers – Change “rules of the game”
2.2.4 Substitutes
Big opportunities / threats from substitution Firms need...