Strategic planning levels

Stretgeic planning is defined by the numorus experts in various views. Startgeic planning process developing and maintaining will be framed as per the changing marketing opportunities.

Startegic Planning mainly inlcudes:

Defining company vision and mission statements.

Specifying objectives

Designing portfolio of products and businesses

Coordinating functional strategies

An organisation will be having three levels of Strtegic planning. Some organisations adopts seven levels of strtegic planning also.It varies as per the organistaion needs,competitive environment and business trends.

The three levels of startegic planning of the organisation is as below:

Corporate Strategy

Vision

Corporate Goals

Philosophy and Culture

Business Unit Strategy

Mission

Business Goals

Competencies

Functional Strategy

Fiannce

Marketing

Human Resources

Information systems

Research & Develiopment

Manufacturing

Corporate Strategy

Corporate Strategy is the form of latest methodologies for developing and implementing various business development strategies. Drawing from relevant conceptual frameworks and genuine business experiences can integrate the corporate strategy and culture with organizational structure, develop corporate, business, and functional strategies, and manage the interface of strategy and technology. Vision defines the desired or intended future state of an organization or enterprise in terms of its fundamental objective and/or strategic direction. Vision is a long term strategy, it describes the status of an organization that how the organization would like the world to compete with the changing trends. A critical success factor for organization is, how the vision contributes to the long term plan for your organization. Organizations describes the goals and objectives into a mission statement and/or a vision statement. Others evaluate with a vision and mission and use them to formulate goals and objectives.Vision is the first step in the preparation of strategic planning of business. This would be prepared based on its future products, markets, customers, processes, location, staffing etc.

Business Unit Strategy

Business Strategy is concerned basic decisions about the enterprise course of action. It determines the basic goals and objectives of an organization. Business Strategy provides the strategic framework of customers, products, competition, processes, technologies, resources, finance and people. It concerns business visions, business models, strategic assets, customer bases, competitive strategy etc. Business strategies include each and every aspect of en enterprise like branding, reatiling, marketing, competioetivestrategies, growth, pricing, scaling and advertising etc. Strategies are the essential plans for achieving and sustaining business success. They are ideas for making a product or service and selling it to the customer with a slice of profit built into it.

Functional Strategy

Functional staregy involevs each functional apsects of organistaion like Fiannce,Marketing,Human Resources,Information systems,Research & Develiopment and Manufacturing. The major functional aspects of an orgnaisation are Fiannce,Marketing,Human Resources .Various forecasts related to business activities are possible through Strategic Management Accounting. It also helps in allocation as well as fuller utilization of resources. Strategic Management Accounting is an integrated system which consists of so many subsystems, methods, techniques and methodologiesThe strategic role of HRM in organizations is basically to support the long-term business objectives and vision with the optimum utilization of the human resources. This requires the most efficient and effective practices for the whole range of HRM functions in organizations. Marketing strategy emphasized on providing services to customers. However, such services were confined to what could be referred to as institutional services, like buying, selling, storing, transporting, creating added values and undertaking promotional activities. An effective marketing strategy enhances the profitability of a company.

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