Page 12 - PowerPoint Presentation

STRATEGY AND GOVERNANCE

Strategic planning processes and approaches

• Strategic planning is the process of defining an entity's

strategy and making decisions about allocation of its

resources to drive the strategy.

• The allocation of resources includes the entity's capital

and people. This process involves the following four

phases:

• strategic analysis

• selecting appropriate strategies

• implementation of strategies

• measurement of performance against strategic objectives

• Various analytical models can be employed in strategic

planning, of which SWOT analysis and Porter's Five

Forces are used most frequently.

12