BUSINESS STRATEGY

Human Resource Management

Task 1 Process of Strategic Planning2

Introduction2

Discussion3

Mission, Vision, Objectives and Competencies4

Issues Involved in Strategic Planning5

Strategic Planning Tools5

SWOT Analysis6

Task 2 Formulate a New Strategy8

Introduction8

Discussion8

Organizational audit for Clinton Cards9

Environmental Audit for Clinton Cards9

Clinton Cards stakeholders and their analysis10

Task 3 Strategy Evaluation and Selection11

Introduction11

Discussion11

Alternative Strategies11

Appropriate Future Strategy12

Task 4 Implementing a Strategy13

Introduction13

Discussion13

Compare Roles and Responsibilities of Strategy Implementation in organizations13

Resource Requirement with the Alternate Strategy14

Targets and Timescales of Achieving14

Human Resource Management

Task 1 Process of Strategic Planning

Introduction

Strategic planning is a tool that is used to steer the business from the place it is to where the stakeholders wants it to be. It's like a road map for the business and like on road, these strategic plans also meet detours and obstacles for adapting and making changes in adjusting the plans. Strategic planning is a process which foresees and implements the mission and vision of the whole organization. A strategic plan takes into account the whole internal and external environment of the business and makes plans accordingly.

Discussion

At Clinton Cards this approach moves from top down and it's the work of the managers of the business to communicate the plans to all the stakeholders of the business. The need for strategic planning becomes additional when the business grows and the environment becomes more diverse. All the individuals of the organization must understand the direction which the business wants to go and keeping in mind its mission. The companies adopt a more disciplined approach every time there is a change in markets segments in order to better evolve to the situation. The benefit of this process is that is leads to improved strategic planning and improved communication. This resolves many underlying issues of the organization and ensures that there is effective decision making, choosing of right options and most importantly achieving the objectives and goals of the business. Strategic planning is a diverse tool which shows that there is no one way of developing strategic plan. However, there are steps that could be taken in the process of strategic planning. The process includes current situational analysis, segmentation, SWOT of a business, its major competencies, business strategy and evaluation. The choice of the planning depends on an individual company and it must take into account the cultural valued and goals of the company.

Mission, Vision, Objectives and Competencies

The strategic plan at Clinton Cards is a long term worth for the company. It reflects the company's vision and mission and this must also change with economic and market conditions. A proactive approach is more helpful and it fosters a culture of continuous improvement and disciplined change. Strategic planning is the map of company's vision of where it wants to be and objectives are those short term goals that are daily activities of the business that will take the company there. It is important to have a clear mission and vision statements that reflect corporate passion which must be understood by all the employees and the managers that will institute the ...