Mgt 497

Week 1 Discussion 1

Describe the three stages of the strategic planning process.

There are three stages of the strategic planning process. Those three are planning, implementation, and evaluation and control.

Planning – organization of the how the process will be executed

Implementation – executing the process once the plan is approved

Evaluation and Control – monitoring the process to ensure the process is executing properly, on time, on schedule, and according to budget. If not then the process can be controlled to make corrections and adjust when and where needed.

How they impact the management of technology and innovation(MTI)

Planning impacts MTI because without planning there can be no management. Management must know a means to manage a project. In the planning a project the planning stage requires that “the level of effort increases, and plans are developed to determine what the project will entail, when it will be scheduled, whom it will benefit, what quality level should be maintained, and what the budget will be”(Larson & Gray, 2011). The same applies to managing technology and innovation.

Implementation impacts MTI because once the plan is approved/selected it is time to put the plan in effect. “The process of putting new ideas to work is the implementation of innovation”(White & Bruton, 2011). At this point MTI should be concerned with answering questions such as “1. What should we be doing now, and what can we do later? 2. What are the time and/or specialized skills required for the prioritized activities? 3. What should be delegated and to whom?”(White & Bruton, 2011).

Evaluation and Control impacts MTI because managers must continue to monitor and be able to respond to changes in the environment, demands of a product, funding of a product, and all while the process is being executed. “Evaluation and control are ongoing processes in the firm. Initially, the manager evaluates the current environment (internal and external) and...