Strategic management: lecture notes
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"Business planning in the strategic management of an organization"
1. The concept and essence of business planning
1. Business plan concept. Its goals, objectives and features of compilation
1. The essence and significance of business planning
2. Analysis of the practice of business planning of strategic management in LLC "EFKO - Semena
2. General characteristics of the enterprise
2. Strategic Opportunity Analysis
Business plan structure
By its nature, the business plan should be a clearly structured system of data on the intentions and prospects of the project, financial and organizational support of the program for the implementation of the planned activities, as well as perform the functions of advertising. The factors that determine the volume, composition and structure of a business plan, the degree of its detailing include the specifics of the type of activity, the size of the enterprise, the purpose of drawing up a business plan, the general strategy of the enterprise, the growth prospects of the enterprise being created, the size of the intended sales market, the presence of competitors.
There are different classifications of the business plan. From the standpoint of strategic planning, the most interesting is the classification by business objects (Fig. 7.).
Fig. 7.. Classification of a business plan by business objects
A business plan in this case can be developed by business lines, by an enterprise, by a division.
The structure of a business plan is not regulated by law, but individual organizations develop their own recommendations and requirements (banks, investment funds, etc.).
A business plan can have any number of sections. However, the number of sections should not be too large, otherwise the document will be overloaded. At the same time, if the required number of sections is not available, then this creates the impression that the project is not well developed. Usually the number of sections is 10-12.
The following structure of the business plan of the investment project is the most optimal.
- Summary (brief annotation of the project, overview section).
- Description of the company and industry.
- Description of the offered products (services).
- Marketing plan.
- Production plan.
- Organizational plan.
- Investment plan (capital investment plan).
- Risk assessment.
- Financial plan.
- Evaluation of the investment project efficiency.
- Other sections reflecting the specific features of the described production, as well as the wishes of investors and developers.
A business plan may also have the following articles: risk insurance, research and development plan, legal plan, environmental aspects, management and ownership, sources and directions of financing, company location, financial strategy, operations (supply chain, suppliers, advantages of the production system), organization of foreign economic activity, competition and competitive advantage, sales forecasting, financing strategy.
Each section contains an economic assessment of the proposed activities, which justifies the objectivity of the financial plan indicators.
Strategic management in business (or strategic management) is a set of consistent, logically linked management decisions and activities, united by a common goal: long-term development of the company in the direction chosen by the management.
The strategic management process includes the formulation of the mission of the enterprise, planning, organization of the production process and control over it. The volumetric concept is subdivided into strategic personnel management, finance, sales.
Like any complex, deliberate process, strategic management is carried out in several stages, is based on certain principles and serves to implement special functions.
Strategic Management Theory
Strategic management is a relatively young methodology for managing a business project, which has grown on the foundation of a long-term planning system. However, this direction of management has already been backed up by a solid theoretical base. Many economic schools offer courses and trainings on business systematization, implementation of administrative technologies, strategy development, separation of the functions of owner and manager. Experts call all these tools components of strategic leadership.
The concept of strategic management turns the activities of an organization into a volumetric model, the construction of which takes into account various factors:
- external (consumer tastes, economic and social changes, political situation);
- internal (skill level of personnel, organizational chart, resources).
Along with formal methods and techniques, the systemic management style requires the owner to have developed intuition and the ability to apply a creative approach to solving business problems.
The essence of a business strategy is a set of rules according to which decisions are made:
- rules for assessing the company's performance in the current period and for the future;
- rules for building relationships with the external environment, defining the main product range, target audience, methods of maintaining competitiveness ;
- rules of procedures and relationships within the company;
- rules of the current management (operational techniques).
- Questions related to the main goals of the enterprise, which are directed to the future and in most cases involve scaling and increasing the efficiency of the production process.
- Situations of lack / absence of any element or business process necessary to achieve general goals.
- Problems arising from uncontrolled external conditions (minimized by constant analysis of the external situation).
Course subject and objectives
The essence of strategic management
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Management is about defining:
- the goals of our activity ("where are we going?"),
- possible ways to achieve it ("how to go?"),
- criteria for choosing the optimal path,
- the final result ("where did you come from?"),
- the difference of goals and results for the use of this information in further control cycles.
Strategic management extends to the long-term goals and actions of the company. We can say that the formulation of a strategy (course of action) and its clear toolkit are the core of management and the surest sign of good company management.
In the management sphere, strategic business planning is the basis on which the entire subsequent action plan is built.
This is a whole complex of components based on careful processing of information, forecasting methods, comparison of opportunities with requirements and trends.
Performing these sequential actions leads to success in a specific job and time frame.
The question of why a business needs strategic planning disappears by itself.
Management and control of the enterprise is carried out through pre-selected and thought out in detail stages of strategic planning.
In this case, the bets are placed not on the sixth sense and luck, but on a clear understanding of the internal mechanisms of their own business.
Planning starts with creating the ideology and key goals of the company.
This is the foundation on which a solid and win-win plan is built.
It is regularly reviewed and amended in accordance with past mistakes and new trends in the modern market.
The peculiarity of strategic planning lies in the invariability of the general goal and the inconstancy of the current conditions and tasks, which must be regularly taken into account.