Describe the various strategic planning approaches.
What will be an ideal response?
Strategic planning is a process that helps managers identify desired outcomes and formulate feasible plans to achieve their objectives by using available resources and capabilities. There are a variety of strategic planning approaches, including issues-based, organic, and goals-based.
• Issues-based strategic planning begins by identifying and analyzing key issues that face the organization, setting strategies to address those issues, and identifying projects and initiatives that are consistent with those strategies.
• Organic strategic planning defines the organization’s vision and values and then identifies projects and initiatives to achieve the vision while adhering to the values.
• Goals-based strategic planning is a multiphase strategic planning process that begins by performing a situation analysis to identify an organization’s strengths, weaknesses, opportunities, and threats.
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