IDENTIFICATION AND APPLICATION OF MOST IMPORTANT STAGES OF STRATEGIC PLANNING ON LOCAL US BUSINESS
IDENTIFICATION AND APPLICATION OF MOST IMPORTANT STAGES OF STRATEGIC PLANNING ON LOCAL US BUSINESS
Author(s): Daisy Gulçin ErbasSubject(s): National Economy, Business Economy / Management, Micro-Economics, Methodology and research technology
Published by: Sage Yayınları
Keywords: Strategic Management; SWOT analysis; Strategy Formulation; Strategy Implementation; Pestel Analysis; Porter’s Five Forces; Mission Statement; Vision Statement;
Summary/Abstract: Strategic management is a key element for organizations to be successful in competitive global business market. Long-term strategies help companies to create a vision. Managers play important role in the strategic planning process. This study identifies most important five stages of strategic planning as; Initial Assessment, Situation Analysis, Strategy Formulation, Strategy Implementation and Strategy Monitoring and Evaluation, and also analyze activities on each stage, define connection between stages and apply each stages to Hans Ice Cream Company. Stages are strategic planning are interconnected and skipping one stage may lead to failure. Managers play key role in implementation. Before taking any actions, managers need to make in depth research. Hans Ice Cream Company has lots of weaknesses like cash only transaction, lack of knowledge and planning. SWOT analysis is one of the useful technique to increase sales numbers and profits for Hans Ice Cream Company.
Journal: TURAN-SAM
- Issue Year: 11/2019
- Issue No: 43
- Page Range: 462-467
- Page Count: 6
- Language: English