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WESLEYAN UNIVERSITY – PHILIPPINESMABINI EXTENSION, CABANATUAN CITY

COLLEGE OF ENGINEERING

STRATEGIC PLANNING FORSMALL BUSINESS

REPORT SUMMARY

In Partial Fulfllment o the Reuirement! or theEntre"reneur!hi" Cour!e or the #e$ree o

Ba%helor o S%ien%e in Ele%troni%! En$ineerin$

Su&mitte' &() *AN #OMINIC G+ #OMINA#O

CYROM LOUIS REN,O P+ AGUSTINS-IENC-IN .+ SALA,AR

BSECE/0B

Su&mitte' to)En$r+ Merr(/Ann #+ Fran%i!%o

1n' Seme!terA%a'emi% Year 1230 4 1235





STRATEGIC PLANNING FOR SMALL BUSINESS

6-AT IS STRATEGIC PLANNING7

Strategic plaig i! a "rgai#ati"$! pr"ce!! "% &e'ig it! !trateg(,"r &irecti", a& )a*ig &eci!i"! " all"catig it! re!"+rce! t" p+r!+e ti!!trateg(- It )a( al!" e.te& t" c"tr"l )ecai!)! %"r g+i&ig tei)ple)etati" "% te !trateg(- Strategic plaig /eca)e pr")iet ic"rp"rati"! &+rig te 0123! a& re)ai! a i)p"rtat a!pect "% !trategic)aage)et- It i! e.ec+te& /( !trategic plaer! "r !trategi!t!, 4" i5"l5e)a( partie! a& re!earc !"+rce! i teir aal(!i! "% te "rgai#ati" a&it! relati"!ip t" te e5ir")et i 4ic it c")pete!-

Strateg( a! )a( &e'iti"!, /+t geerall( i5"l5e! !ettig g"al!,&eter)iig acti"! t" acie5e te g"al!, a& )"/ili#ig re!"+rce! t"e.ec+te te acti"!- A !trateg( &e!cri/e! "4 te e&! 6g"al!7 4ill /eacie5e& /( te )ea! 6re!"+rce!7- Te !ei"r lea&er!ip "% a "rgai#ati"i! geerall( ta!*e& 4it &eter)iig !trateg(- Strateg( ca /e plae&6ite&e&7 "r ca /e "/!er5e& a! a patter "% acti5it( 6e)erget7 a! te"rgai#ati" a&apt! t" it! e5ir")et "r c")pete!-

Strateg( icl+&e! pr"ce!!e! "% %"r)+lati" a& i)ple)etati"8!trategic plaig elp! c""r&iate /"t- H"4e5er, !trategic plaig i!aal(tical i at+re 6i-e-, it i5"l5e! 9'&ig te &"t!978 !trateg( %"r)ati"it!el% i5"l5e! !(te!i! 6i-e-, 9c"ectig te &"t!97 5ia !trategic ti*ig- A!!+c, !trategic plaig "cc+r! ar"+& te !trateg( %"r)ati" acti5it(-

The Pro%e!! o Strate$i% Plannin$

O8er8ie9Strategic plaig i! a pr"ce!! a& t+! a! ip+t!, acti5itie!, "+tp+t!

a& "+tc")e!- Ti! pr"ce!!, li*e all pr"ce!!e!, a! c"!trait!- It )a( /e%"r)al "r i%"r)al a& i! t(picall( iterati5e, 4it %ee&/ac* l""p! tr"+g"+tte pr"ce!!- S")e ele)et! "% te pr"ce!! )a( /e c"ti+"+! a& "ter!)a( /e e.ec+te& a! &i!crete pr":ect! 4it a &e'iti5e !tart a& e& &+rig aperi"&- Strategic plaig pr"5i&e! ip+t! %"r !trategic ti*ig, 4ic g+i&e!te act+al !trateg( %"r)ati"- Te e& re!+lt i! te "rgai#ati"$! !trateg(,icl+&ig a &iag"!i! "% te e5ir")et a& c")petiti5e !it+ati", a g+i&igp"lic( " 4at te "rgai#ati" ite&! t" acc")pli!, a& *e( iitiati5e! "racti" pla! %"r acie5ig te g+i&ig p"lic(-

Micael P"rter 4r"te i 01;3 te %"r)+lati" "% c")petiti5e !trateg(icl+&e! c"!i&erati" "% %"+r *e( ele)et!<

0- C")pa( !tregt! a& 4ea*e!!e!8





=- Per!"al 5al+e! "% te *e( i)ple)eter! 6i-e-, )aage)et a& te/"ar&78

>- I&+!tr( "pp"rt+itie! a& treat!8 a&

?- Br"a&er !"cietal e.pectati"!-

Te 'r!t t4" ele)et! relate t" %act"r! iteral t" te c")pa( 6i-e-, teiteral e5ir")et7, 4ile te latter t4" relate t" %act"r! e.teral t" tec")pa( 6i-e-, te e.teral e5ir")et7- Te!e ele)et! are c"!i&ere&tr"+g"+t te !trategic plaig pr"ce!!-

In"ut!@ata i! gatere& %r") a 5ariet( "% !"+rce!, !+c a! iter5ie4! 4it *e(

e.ec+ti5e!, re5ie4 "% p+/licl( a5aila/le &"c+)et! " te c")petiti" "r)ar*et, pri)ar( re!earc 6e-g-, 5i!itig "r "/!er5ig c")petit"r place! "% /+!ie!! "r c")parig price!7, i&+!tr( !t+&ie!, etc- Ti! )a( /e part "% ac")petiti5e itelligece pr"gra)- Ip+t! are gatere& t" elp !+pp"rt a+&er!ta&ig "% te c")petiti5e e5ir")et a& it! "pp"rt+itie! a&ri!*!- Oter ip+t! icl+&e a +&er!ta&ig "% te 5al+e! "% *e(!ta*e"l&er!, !+c a! te /"ar&, !are"l&er!, a& !ei"r )aage)et-





Te!e 5al+e! )a( /e capt+re& i a "rgai#ati"$! 5i!i" a& )i!!i"!tate)et!-

A%ti8itie!“The essence of formulating competitive strategy is relating a

company to its environment.” – Micael P"rter

Strategic plaig acti5itie! icl+&e )eetig! a& "terc"))+icati" a)"g te "rgai#ati"$! lea&er! a& per!"el t" &e5el"p ac"))" +&er!ta&ig regar&ig te c")petiti5e e5ir")et a& 4at te"rgai#ati"$! re!p"!e t" tat e5ir")et 6it! !trateg(7 !"+l& /e- A5ariet( "% !trategic plaig t""l! 6&e!cri/e& i te !ecti" /el"47 )a( /ec")plete& a! part "% !trategic plaig acti5itie!-

Te "rgai#ati"$! lea&er! )a( a5e a !erie! "% +e!ti"! te( 4ata!4ere& i %"r)+latig te !trateg( a& gaterig ip+t!, !+c a!<

• Wat i! te "rgai#ati"$! /+!ie!! "r itere!t

• Wat i! c"!i&ere& 95al+e9 t" te c+!t")er "r c"!tit+ec(

• Wic pr"&+ct! a& !er5ice! !"+l& /e icl+&e& "r e.cl+&e& %r") tep"rt%"li" "% "erig!

• Wat i! te ge"grapic !c"pe "% te "rgai#ati"

• Wat &ieretiate! te "rgai#ati" %r") it! c")petit"r! i te e(e! "% c+!t")er! a& "ter !ta*e"l&er!

• Wic !*ill! a& re!"+rce! !"+l& /e &e5el"pe& 4iti te"rgai#ati"

Out"ut! Te "+tp+t "% !trategic plaig icl+&e! &"c+)etati" a&

c"))+icati" &e!cri/ig te "rgai#ati"$! !trateg( a& "4 it !"+l& /ei)ple)ete&, !")eti)e! re%erre& t" a! te !trategic pla- Te !trateg( )a(icl+&e a &iag"!i! "% te c")petiti5e !it+ati", a g+i&ig p"lic( %"racie5ig te "rgai#ati"$! g"al!, a& !peci'c acti" pla! t" /ei)ple)ete&- A !trategic pla )a( c"5er )+ltiple (ear! a& /e +p&ate&peri"&icall(-

Te "rgai#ati" )a( +!e a 5ariet( "% )et"&! "% )ea!+rig a&)"it"rig pr"gre!! t"4ar&! te "/:ecti5e! a& )ea!+re! e!ta/li!e&, !+ca! a /alace& !c"recar& "r !trateg( )ap- C")paie! )a( al!" pla teir'acial !tate)et! 6i-e-, /alace !eet!, ic")e !tate)et!, a& ca!D"4!7 %"r !e5eral (ear! 4e &e5el"pig teir !trategic pla, a! part "% teg"al !ettig acti5it(- Te ter) "perati"al /+&get i! "%te +!e& t" &e!cri/ete e.pecte& 'acial per%"r)ace "% a "rgai#ati" %"r te +pc")ig (ear-Capital /+&get! 5er( "%te %"r) te /ac*/"e "% a !trategic pla, e!peciall(





a! it icrea!igl( relate! t" I%"r)ati" a& C"))+icati"! Tec"l"g(6ICT7-

Out%ome!Wile te plaig pr"ce!! pr"&+ce! "+tp+t!, a! &e!cri/e& a/"5e,

!trateg( i)ple)etati" "r e.ec+ti" "% te !trategic pla pr"&+ce!O+tc")e!- Te!e "+tc")e! 4ill i5aria/l( &ier %r") te !trategic g"al!-H"4 cl"!e te( are t" te !trategic g"al! a& 5i!i" 4ill &eter)ie te!+cce!! "r %ail+re "% te !trategic pla- Al!", tere 4ill ari!e +ite&e&O+tc")e!, 4ic ee& t" /e atte&e& t" a& +&er!t""& %"r !trateg(&e5el"p)et a& e.ec+ti" t" /e a tr+e learig pr"ce!!- Oe "% tei))e&iate g"al! t" /e acie5e& /( te acti" pla icl+&e! e!+rig tat te"rgai#ati" c"%"r)! t" te legal re+ire)et!- A /+!ie!! "rgai#ati"tat "perate! 4iti te legal re+ire)et! "perate! 4it )ii)+)

pr"/le)!8 ti! &irectl( icrea!e! te c")pa(! !areF)ar*et-

Cli)/ig te c"rp"rate la&&er !ee! t" it tat te "rgai#ati" icrea!e!/"t it! ic")e a& e.pe!e!- Te "ter !"rtFter) "/:ecti5e t" /e )et /(te !trategic acti" pla etail! icrea!e& c+!t")er l"(alt(- C+!t")er! are+!+all( attracte& t" /+!ie!! "rgai#ati"! tat "ere& g""& !er5ice! a&re!pecte& te cliet ee&!- Eac &epart)etal ea& 4ill /e re!p"!i/le %"rteir tea)!- Te( 4ill )"it"r te acti5itie! a& "perati"! "% te c"&+cte&%"r eac !trategic acti"- @ieret "rgai#ati"al tea)! 4ill ta*ere!p"!i/ilit( %"r te 5ari"+! )ar*etig !trategie! i te "rgai#ati"- Te!+cce!!%+l !trategi!t! 4ill /e re4ar&e&, a iceti5e %"r te) t" 4"r* ar&er

t" attai te "rgai#ati"! l"gFter) g"al!-

IMPLEMENTING A STRATEGIC PLAN

Oe "% te )"!t callegig a!pect! "% !trategic plaig i!i)ple)etig te pla – gettig 4at! " paper t" c")e t" li%e a&acie5ig te g"al! a& !trategie! icl+&e& i te pla- W"r* %"r !+cce!!%+li)ple)etati" "% a pla ee&! t" /egi 4e 4"r* " te pla /egi!, a&c"ti+e tr"+g te i)ple)etati"-

6hile 'e8elo"in$ the !trate$i% "lan

Communi%ate) Orgai#ati"al c"))+icati" a/"+t te pla a& teplaig pr"ce!! ee&! t" !tart a! !"" a! te plaig pr"ce!! i!&eter)ie&- Wile ("+ 4"t /e a/le t" !are a &etaile& plaig pr"ce!!rigt at te !tart, ("+ 4ill /e a/le t" let pe"ple *"4 te rea!"! 4( te"rgai#ati" i! /egiig te pr"ce!! t" &e5el"p a pla, "4 te pla 4ill /e+!e& 4iti te "rgai#ati", a& 4at te i)pact "% a5ig a l"gerFter)pla 4ill /e " te "rgai#ati"-





En$a$e) Icl+&e all "r repre!etati5e gr"+p! "% c"!tit+et! 4iti a&"+t!i&e te "rgai#ati" &+rig te plaig pr"ce!!- Get teir ip+t- Tereare )a( 4a(! t" &" ti! F %ace t" %ace t"4 )eetig! "r %"c+! gr"+p!,

!+r5e(!, ta!* %"rce! " !peci'c i!!+e! "r t"pic!, "r i5"l5ig a large gr"+p ite act+al &ra%tig "% te pla- Te /e!t 't 4ill /e &eter)ie& /( te c+lt+rea& !i#e "% te "rgai#ati"-

Ali$n) A eecti5e pla ca"t /e &e5el"pe& i a 5ac++)- Be a4are "% tre&! i ("+r 'el&, te e5ir")et ("+ 4"r* i, a& te &irecti" "% a(larger "rgai#ati" ("+r +it /el"g! t"- E!+re te re!+ltig !trategie! a&g"al! "% ("+r pla are alige& 4it a( iger le5el "rgai#ati"al g"al!-

On%e the !trate$i% "lan i! 9ritten

:ee" it mo8in$) Get !ei"r lea&er!ip 5i!i/l( /ei& te pla- Ha5e te)!are 4it te "rgai#ati" te i%"r)ati" te( recei5e i pr"gre!! rep"rt!-@e)"!trate tat te "rgai#ati" i! !+pp"rti5e "% i)ple)etig te plaa& *eepig it %r") /ec")ig a !el% &"c+)et-

Communi%ate) Sare te pla 4iti a& "+t!i&e "% te "rgai#ati"- U!e)+ltiple %"r)at!, a&apte& t" te a+&iece F te We/, /rie% /r"c+re!, a&&etaile& acti" pla!- Up&ate te i%"r)ati" t" reDect pr"gre!! a&acc")pli!)et!-

En$a$e "eo"le) I)ple)etig !trategie! i! a l"t "% 4"r* – it! i)ple)etig

cage- Egagig )"re pe"ple 4ill )a*e it p"!!i/le t" !prea& te 4"r*l"a&- T"!e pe"ple egage& i te i)ple)etati" 4ill %eel )"re "4er!ip %"rte pla a& te cage! tat re!+lt-

Set "rioritie!) All "% te g"al! a& !trategie! i te pla ca"t /ei)ple)ete& a& acc")pli!e& at te !a)e ti)e- Sprea& acti5itie! "+t "5erte li%e "% te pla- Re5ie4 te !trategie! a& &eter)ie te /e!t place! t"!tart- Ti! )a( /e iD+ece& /( "pp"rt+itie! %"r +ic* !+cce!!e!, /( al"gical "r&erig "% !trategie! tat &epe& " acti"! c")plete& i earlier!trategie!, "r /( a a+al c(cle "% "rgai#ati"al acti5itie!- A )atri. tat!"4! 4e eac !trateg( 4ill /e !tarte& a& "4 l"g it 4ill ta*e t"c")plete )a( /e a +!e%+l attac)et t" te pla-

-a8e a "oint "er!on or lea'er or ea%h $oal or initiati8e) Oe&e!igate& p"it "% c"tact %"r a iitiati5e 4ill )a*e it ea!ier t" !arei%"r)ati", )"it"r te !tat+!, a& c""r&iate 4"r* acr"!! all c")p"et!"% te pla-

I'enti( mea!ure!) Mea!+re! a& clear e.pectati"! )a*e it p"!!i/le t"!ee "4 ("+ are &"ig, 4at pr"gre!! ("+5e )a&e " a !trateg(, 4at!+cce!!e! ("+ a5e a&, a& 4e ("+ a5e acc")pli!e& a g"al- Te pla





!"+l& /e &ata i%"r)e&, "t &ata &ri5e F &ata i! a )ea! t" a e&, "t ae& i it!el%-

Lin; the "lan to 'ail( a%ti8itie!) eep te pla 5i!i/le /( itegratig itit" reg+lar acti5itie! !+c a! !ta )eetig! a& pr"%e!!i"al &e5el"p)etpla!- @rill &"4 %r") !trategie! t" !"4 "4 te( are relate& t" &ail(acti5itie!-

Set mile!tone! 9ithin the "lan) Li*e pr":ect )aage)et, &e5el"p acti"pla! %"r i&i5i&+al iitiati5e! 4iti te pla- @eter)ie 4" i! re!p"!i/le%"r 4at, 4e it 4ill /e !tarte& a& c")plete&, a& 4at iter)e&iateacc")pli!)et! are ee&e& t" acie5e 'al re!+lt!- Ti! 4ill elp t"&eter)ie 4e a&:+!t)et! ee& t" /e )a&e a& )a*e pr"gre!! )"reapparet-

-a8e an ea!( 9a( to tra%; an' !ummari<e "ro$re!!) Beig a/le t"rec"gi#e e5e partial acc")pli!)et! a& pr"gre!! ca /e re4ar&ig a&)"ti5atig- B+t *eep re!"+rce! %"c+!e& " i)ple)etig te iitiati5e!, "t" trac*ig pr"gre!!-

Re%o$ni<e a%%om"li!hment!) Rec"gi#ig 4at a! /ee &"e cageerate eerg( t" &" )"re- @"t 4ait +til a pr":ect "r pla i! c")plete&t" rec"gi#e a& cele/rate- Rec"gi#e pa!t acc")pli!)et!, a& rec"gi#e)ile!t"e! &+rig te i)ple)etati" "% a iitiati5e-

Learn rom the "a!t) Pla! are "t 4ritte i !t"e- A! ("+ i)ple)et ("+rpla "r iitiati5e!, )"it"r tre&! a& te e5ir")et- Trac* tei)ple)etati" appr"ace! tat 4"r* 4ell a& 4ic ee& re'e)et, a&te a&apt %+t+re i)ple)etati" appr"ace!-

Strategic plaig i! "t a/"+t pr"&+cig a pla8 it! a/"+t lea&er!ip a&egagig "ter! t" acie5e te "rgai#ati"! 5i!i"- Plaig %all! !"rt4e te c"+r!e i! carte&, te &irecti" !et a& "tig )"re appe!-Strategic plaig i! a pr"ce!! tat icl+&e! cartig a &irecti",&eter)iig te c"+r!e, a& reacig a &e!tiati"- Y"+ ee& a pla %"ri)ple)etig g"al! a& !trategie! i a&&iti" t" i&eti%(ig te), i "r&er t"reac ("+r &e!tiati"-

FUN#AMENTAL STRATEGIES FOR SMALL BUSINESS

S)all /+!ie!!e! ee& t" /e !+cce!!%+l- Te ig rate "% !)all

/+!ie!! %ail+re! )a*e! te ee& %"r !trategic plaig )"re +rget- I!trategic plaig, te )a:"r "/:ecti5e! "% te "rgai#ati" are &eter)ie&,a& !trategie! are %"r)+late& t" acie5e t"!e "/:ecti5e!-





Fore%a!tin$ o Future Sale! Perorman%e"reca!t! are !+pple)etar( t""l! %"r SWOT aal(!i!- It i! a

e!ti)ate "r pre&icti" "% te %+t+re !ale! "r ic")e "% te 'r)-"reca!t! )a( /e !"rtFter) 6"e (ear "r le!!7, )e&i+)Fter) 6"e t" '5e(ear!7, "r l"gFter) 6"5er '5e (ear!7-

Im"lementin$ Strate$i% Plan!Strategie! are +!ele!! +le!! te( are i)ple)ete&- T" p+t !trategie!

it" acti", te %"ll"4ig acti5itie! are re+ire&<0- I&eti%( te !peci'c )et"&! t" /e +!e&-=- @epl"( te re!"+rce! ee&e& t" i)ple)et te ite&e& pla!-

I'enti(in$ S"e%if% Metho'!

I% Je!ta/li! /race! i !trategic l"cati"!K i! !tate& !trateg(, tetactical pla t" i)ple)et it )a( appear a! %"ll"4!<

0- I&eti%( !trategic l"cati"!-=- @eter)ie te p"tetial "% te i&eti'e& !trategic l"cati"!->- Set a ti)eta/le %"r i!tallig te /race!-

#e"lo(in$ the Re!our%e! Te !peci'c ai) "% plaig i! t" /e a/le t" &epl"( te rigt +alit(

a& +atit( "% re!"+rce! i te 5ari"+! acti5itie! re+ire& t" acie5e te"/:ecti5e!- Te re!"+rce! 4"+l& /e i&icate& i ter)! "% +)a a& "F+)a ele)et!-

Fun'amental Strate$ie! or Small Bu!ine!! Tere are certai /a!ic !trategie! tat are ece!!ar( %"r te !+r5i5al "% a!)all /+!ie!!-

0- Te De.i/ilit( "% te !trateg(-=- Pri"riti#e te eecti5ee!! "% te !trateg(->- Start 4it a !i)ple !trateg(-

STRATEGY CONCERNS OF SMALL BUSINESS

I &eter)iig 4at !trateg( t" a&apt, te etrepree+r i! c"%r"te&4it t4" geeral !it+ati"!<

0- I! e "rgai#ig a e4 /+!ie!!=- I! e c+rretl( r+ig a "l& /+!ie!!

Ne9 Bu!ine!!F Ti! ter) re%er! t" "e tat 4ill /e "perate& %"r te 'r!t ti)e /( te !)all/+!ie!! "perat"r- I% !", i! "pti"! c"!i!t "% te %"ll"4ig<

0- Ac+irig a e.i!tig /+!ie!!-=- Orgai#ig a e4 /+!ie!!->- B+(ig a %raci!e-





Strate$ie! or #ealin$ 9ith Com"etition Te !trategic pr"/le)! "% !)all /+!ie!! are "t a! ite!e a! t"!e "%

large /+!ie!!- E5e i! !)all /+!ie!! ca"t c")pete ea&F" 4it /ig/+!ie!! it! !i#e a! a /+iltFi )ae+5era/ilit( 4ic i! a 5er( i)p"rtatc")petiti5e 4eap"- A( "r all "% te %"ll"4ig !trategie! are applica/le t"!)all /+!ie!!<

Se$ment mar;etFTe !)all /+!ie!! "perat"r 4ill a5e t" i&eti%( te )ar*et !eg)et

4it 4ic it a! e.perti!e /e%"re c")petig-

E>%ient u!e o re!ear%h an' 'e8elo"mentFSice te !)all /+!ie!! ca"t 'gt te re!earc a& &e5el"p)et

e"rt! "% /ig c")paie!, it )+!t c"cetrate it! e"rt! " l"4erig pr"ce!!c"!t! "r t" /rig e4 pr"&+ct! t" te )ar*et-

Thin; !mallFTe !)all /+!ie!! ca !till /e !tr"g 4it /eig !)all- Te e)pa!i!

)+!t /e " pr"'t! rater ta !ale! gr"4t, a& !peciali#ati" rater ta&i5er!i'cati"-

6-Y SMALL BUSINESS OPERATORS IGNORE STRATEGIC PLANNING

A! i)p"rtat a! it i!, !trategic plaig i !)all /+!ie!! )aage)eti! "%te ig"re&- Ti! !it+ati" i! tr+e i )a( part! "% te 4"rl& icl+&igte Pilippie!-

The rea!on! %oul' &e an( o the ollo9in$<

3+ La%; o E?"erti!eF e4 !)all /+!ie!! "perat"r! are traie& i !trategic plaig-

1+ Ina&ilit( to $et !tarte'F E5e i% !)all /+!ie!! "perat"r! are c"5ice& a/"+t te i)p"rtace

"% plaig, te( %ail t" get !tarte& %"r lac* "% !+ciet e.p"!+re t" plaigacti5itie!-

@+ Un%ontrolla&le oten intan$i&le 8aria&le!F Te +c"tr"lla/le a& "%te itagi/le 5aria/le! c")plicate plaig

4ic later " &i!c"+rage! te !)all /+!ie!! "perat"r %r") repeatig tee.erci!e-





+ Re!our%e "o8ert(F plaig re+ire! ti)e /+t te !)all /+!ie!! "perat"r "%te &"t

a5e it- Ti! i! /eca+!e e )+!t atte& t" te pr"/le)! relate& t" lac*"% a&e+ate capital, )aagerial e.periece, "+t!i&e a&5ice, )aage)et!peciali!t, a& "ter *e( a!!et!-

0+ Fo%u! on 'ail( o"eration!F Te &ail( re+ire)et! "% !)all /+!ie!! +!+all( *eep te !)all

/+!ie!! "perat"r !" /+!( tat e i! le%t 4it " ti)e %"r plaig-

5+ Failure to reali<e the im"ortan%e o !trate$i% "lannin$F Te !)all /+!ie!! "perat"r i! e.p"!e& t" te e5ir")et "%

!+cce!!%+l ilipi" /+!ie!!)e 4" &" "t egage i !trategic plaig-

Ti! gi5e! !+ciet rea!" t" &i!regar& te /ee't! "% !trategic plaig- Iti! ir"ic tat e5e i% !t+&ie! !"4 te +!e%+le!! "% !trategic plaig ti!acti5it( i! "t %+ll( appreciate&-





TERMINOLOGY

#ata i! gatere& %r") a 5ariet( "% !"+rce!, !+c a! iter5ie4! 4it *e(e.ec+ti5e!, re5ie4 "% p+/licl( a5aila/le &"c+)et! " te c")petiti" "r)ar*et, pri)ar( re!earc, i&+!tr( !t+&ie!-

Fore%a!t! are !+pple)etar( t""l! %"r SWOT aal(!i!- It i! a e!ti)ate "rpre&icti" "% te %+t+re !ale! "r ic")e "% te 'r)-

Mi!!ion !tatement i! te /a!ic &e!cripti" "% te %+&a)etal at+re,rati"ale a& &irecti" "% te "rgai#ati"-

O""ortunit( re%er! t" te cace "ere& /( te e.teral e5ir")et t"i)pr"5e te 'r)! !it+ati" !igi'catl(-

Out%ome! are pr"&+ct "% !trategic plaig-

Out"ut o !trate$i% "lannin$ icl+&e! &"c+)etati" a& c"))+icati"&e!cri/ig te "rgai#ati"$! !trateg( a& "4 it !"+l& /e i)ple)ete&,!")eti)e! re%erre& t" a! te !trategic pla-

Strate$i% "lannin$ i! a "rgai#ati"$! pr"ce!! "% &e'ig it! !trateg(, "r&irecti", a& )a*ig &eci!i"! " all"catig it! re!"+rce! t" p+r!+e ti!!trateg(

Stren$th re%er! t" a 5al+a/le "rgai#ati"al re!"+rce "r c")petiti5ecapa/ilit( "r a acie5e)et tat gi5e! te 'r) a )ar*et a&5atage-

S6OT anal(!i! i! a "rgai#e& )et"& "% a!!e!!ig a 'r)! !tregt! a&4ea*e!!e! a& te "pp"rt+itie! a& treat! i te e.teral e5ir")ettat c"%r"t "r 4ill c"%r"t te 'r)-

Threat! re%er! t" a callege p"!e& /( a +%a5"ra/le tre& "r &e5el"p)eti te e.teral e5ir")et tat 4"+l& lea& t", i te a/!ece "% p+rp"!e%+letrepree+rial acti", te er"!i" "% te etrepree+r!ip p"!iti"-

6ea;ne!! re%er! t" !")etig a c")pa( lac*! "r &"e! p""rl( "r ac"&iti" tat p+t! it at a &i!a&5atage-





SAMPLE UESTIONS 6IT- ANS6ERS

0- It i! a "rgai#ati"$! pr"ce!! "% !ettig it! g"al!, &eter)iig acti"! t"acie5e g"al!, a& )"/ili#ig re!"+rce! t" e.ec+te te acti"!-

=- He 4r"te te %"r)+lati" "% c")petiti5e !trateg(-

>- It i! gatere& %r") a 5ariet( "% !"+rce!, !+c a! iter5ie4! 4it *e(e.ec+ti5e!, re5ie4 "% p+/licl( a5aila/le &"c+)et! " te c")petiti" "r)ar*et, a& "ter %"r) "% re!"+rce!-

?F- 4at are te %"+r *e( ele)et! "% c")petiti5e !trateg(

;F03- 4at are te > %+&a)etal !trategie! ee&e& /( !)all /+!ie!!e! t"/ec")e !+cce!!%+l

00- Wat i! te /a!ic &e!cripti" "% te %+&a)etal at+re, rati"ale a&&irecti" "% te "rgai#ati"

0=- It i! a "rgai#e& )et"& "% a!!e!!ig a 'r)! !tregt! a& 4ea*e!!e!a& te "pp"rt+itie! a& treat! i te e.teral e5ir")et tat c"%r"t"r 4ill c"%r"t te 'r)-

0>- Ti! re%er! t" a 5al+a/le "rgai#ati"al re!"+rce "r c")petiti5e capa/ilit("r a acie5e)et tat gi5e! te 'r) a )ar*et a&5atage-

0?- Ti! re%er! t" !")etig a c")pa( lac*! "r &"e! p""rl( "r a c"&iti"tat p+t! it at a &i!a&5atage-

0- Ti! re%er! t" te cace "ere& /( te e.teral e5ir")et t" i)pr"5ete 'r)! !it+ati" !igi'catl(-

02- Ti! re%er t" a callege p"!e& /( a +%a5"ra/le tre& "r &e5el"p)eti te e.teral e5ir")et tat 4"+l& lea& t", i te a/!ece "% p+rp"!e%+letrepree+rial acti", te er"!i" "% te etrepree+r!ip p"!iti"-

0- It i! a e!ti)ate "r pre&icti" "% te %+t+re !ale! "r ic")e "% te 'r)-

0;- Me&i+)Fter) %"reca!tig rage! %r") "4 )a( (ear!

01- Rea!" 4( %e4 !)all /+!ie!! "perat"r! are traie& i !trategicplaig-





=3- Te &ail( re+ire)et! "% !)all /+!ie!! +!+all( *eep te !)all /+!ie!!"perat"r !" /+!( tat e i! le%t 4it " ti)e %"r plaig-

An!9er ;e(!)

0- Strategic Plaig=- Micael P"rter>- @ata?- C")pa( !tregt! a& 4ea*e!!e!- Per!"al 5al+e! "% te *e( i)ple)eter!2- I&+!tr( "pp"rt+itie! a& treat!

- Br"a&er !"cietal e.pectati"!-;- @eter)ie "/:ecti5e!1- A&"pt a c"+r!e "% acti"03- All"cate re!"+rce!00- Mi!!i" State)et0=- SWOT Aal(!i!0>- Stregt0?- Wea*e!!0- Opp"rt+it(02- Treat!0- "reca!t

0;- 0F (ear!01- Lac* "% E.perti!e=3- "c+! " @ail( "perati"!





REFERENCES

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USINESS

ttp<!)all/+!ie!!-cr"-c")%+&a)etalFpriciple!F!trategicF/+!ie!!FplaigF)"&el!F;3>2>-t)l

ttp<444-!4it#er-c")-a+!)allF/+!ie!!!tartigFaF/+!ie!!learigFteF%+&a)etal!F"%F/+!ie!!Fplaig

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