What are the benefits of engaging in strategic planning

Assignment Help Strategic Management

Reference no: EM131889477

Problem: Strategic Planning at a Local company

Purpose: This activity is aimed at giving you practical knowledge about how organizations in your city or town are doing strategic planning. This exercise also will give you experience in interacting on a professional basis with local business leaders.

Instructions: Step 1 Contact several business owners or top managers. Find an organization that does strategic planning. Make an appointment to visit with the strategist (president, chief executive officer,or owner) of that business.

Step 2 Seek answers to the following questions during the interview:

• Does your firm formally conduct strategic planning? If no, why not? If yes, who is involved in the process? Does the firm hold planning retreats? If yes, how often and where?

• Does your firm have a written mission statement? How was the statement developed? When was the statement last changed?

• What are the benefits of engaging in strategic planning?

• What are the major costs or problems in doing strategic planning in your business?

• Do you anticipate making any changes in the strategic-planning process at your company? If yes, please explain

Reference no: EM131889477

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