Strategic Planning sets direction in which human and material resources of a business will be applied for greater chance of achieving selected goals.
Strategic planning is especially the job of those line managers who sit at the top of the organization.
Strategic planning is top management’s effort to design a plan in order to place an organization within its external environment.
Objectives are quantitative, measurable, provided concrete terms, establish standards, written expected results that achievable with a give time frame.
Strategic planning process requires 9 continuous steps to be followed for effective use of human and material resources of organization for attaining the purpose, mission and objectives of organization.
Six steps in MBO process connects key managerial activities in a systematic manner for effective and efficient achievement of organizational objectives.
For the best possible out come from the negotiation, organization needs to prepare proper negotiation and bargaining strategies.