Welcome to Coppola Enterprises, Inc.
In today's rapidly changing business environment, organizations must have the flexibility to adapt to change. Strategic management is defined as a set of decisions and actions resulting in the formulation and implementation of a plan designed to achieve objectives and goals (a desirable future).
Strategic planning involves planning, directing, organizing and controlling strategic related decisions and actions.
A strategy is a large-scale, future oriented plan for interaction with the competitive environment to achieve the organization's goals - a game plan. It reflects the organization's awareness of its purpose and how, when, where that purpose should be executed.
Benefits of Strategic Management:
- Enhances an organization's ability to prevent problems.
- Enables more effective decisio making.
- Improves employees' understanding of a productively-reward relationship and increases motivation.
- Gaps and overlaps in activities among individuals and groups are reduced as participation in strategy formulation clarifies differences in roles.
- Resistance to change is reduced.
- Provides greater control of an organization's own destiny.
- Creates organizational alignment.
- Enhances the ability for an organizationto choose "how" to be successful.
- Inspires commitment.
- Establishes measurable performance indicators for every employee.
Ten Critical Tasks in Strategic Planning:
- Formulation of the mission, including broad statements about its purpose, philosophy and goals.
- Development of the organization's profile that reflects its internal conditions and capabilities.
- Assessment of the organization's external environment.
- Analysis of the organization's options in light of its mission.
- Creation of the organization's strategy for success.
- Selection of a set of long-term objectives and grand strategies that will achieve the most desirable options.
- Development of annual objectives and short-term strategies that are compatible with the selected set of long-term objectives and grand strategies.
- Implementation of the strategic choices by means of budgeted resources and allocations.
- Telescoping the strategy to the employee level.
- Review, evaluate and monitor the success of the strategic process.