Universal Journal of Management Vol. 4(3), pp. 120 - 129
DOI: 10.13189/ujm.2016.040305
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Before and after Phases of Strategic Planning

H. Butuner ^*
Department of Management, Turgut Özal University, Turkey

ABSTRACT

The purpose of this paper is to explain the things to be done before and after starting with the strategic planning work. Before beginning with strategic planning, businesses must have articulated their missions and visions, and identified their basic policies. For this reason, proper formulation of mission, vision and basic policies will play a determining role for the success of strategic plan. Strategic plan outlines the path between the current status of business and the desired status to achieve. It helps the business to establish its objectives, goals as well as the decisions to achieve these objectives and goals. It involves a long-term and prospective perspective. Strategic plan provides guidance for the preparation of functional plans and business budget in such a manner that they reflect the objectives, goals and grand strategies of the strategic plan during the implementation, as well as for basing resource allocation on priorities. In short, this paper helps businesses to define their integrated strategic plans with their vision and functional plans by offering them a comprehensive guideline.

KEYWORDS
Strategy, Strategy Development, Strategic Management, Functional Plans, Strategic Planning

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] H. Butuner , "Before and after Phases of Strategic Planning," Universal Journal of Management, Vol. 4, No. 3, pp. 120 - 129, 2016. DOI: 10.13189/ujm.2016.040305.

(b). APA Format:
H. Butuner (2016). Before and after Phases of Strategic Planning. Universal Journal of Management, 4(3), 120 - 129. DOI: 10.13189/ujm.2016.040305.