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Which element of the strategic planning process plays a major role in the establishment of performance standards Explain?
The establishment of performance standards is primarily influenced by the goal-setting phase of the strategic planning process. During this phase, specific, measurable objectives are defined, which serve as benchmarks for evaluating performance. These objectives help align resources and efforts towards desired outcomes, ensuring that the organization can assess its progress effectively. By clearly articulating expectations, organizations can motivate employees and guide decision-making throughout the implementation of the strategic plan.
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Is Strategic planning is the seed of money?
strategic planning is seed money. discuss
Explain the Importance of strategic planning in MIS?
what is the importance of strategic planning in mis?
How does planning enable the control process?
Planning establishes clear objectives and benchmarks that serve as a foundation for the control process. By outlining specific goals and the means to achieve them, planning allows organizations to measure performance against these standards. This comparison helps identify deviations from the plan, enabling timely corrective actions. Ultimately, effective planning ensures that resources are aligned with strategic priorities, facilitating smoother monitoring and control.
How to abbreviate the words strategic planning?
how do you abbreviate strategic
What is the relation between strategic planning and project selection?
Strategic planning is the first phase of project selection.
What has the author Barry Nolan written?
Barry Nolan has written: 'A study investigating the strategic orientation & corporate performance of Irish exporters' -- subject(s): Export marketing, Corporate planning, Strategic planning
Is Strategic planning is the seed of money?
strategic planning is seed money. discuss
Explain the Importance of strategic planning in MIS?
what is the importance of strategic planning in mis?
How does planning enable the control process?
Planning establishes clear objectives and benchmarks that serve as a foundation for the control process. By outlining specific goals and the means to achieve them, planning allows organizations to measure performance against these standards. This comparison helps identify deviations from the plan, enabling timely corrective actions. Ultimately, effective planning ensures that resources are aligned with strategic priorities, facilitating smoother monitoring and control.
When did Wulf Bernotat work in strategic planning at Shell?
1986-1987, strategic planning
Is strategic planning used in education?
Absolutely. In fact strategic planning is done extensively in education. K-12 and higher education both use strategic planning. The links provided offer specific models for IT strategic planning in higher education.
What are the steps involved in management control process?
The essential elements of any control process are• Establishment of Standards• Measurement• Comparing performance with the standards• Taking corrective actionsEstablishment of Standards is the first step in control process. Standards represent criteria for performance. A standard acts as reference line or a basis of appraisal of actual performance. Standards should be set precisely and preferable in quantitative terms. Setting standard is closely linked and is and integral part of the planning process. Standards are used or bench marks by which performance is measured in the control operations at the planning stage, planning is the basis of control.Measurement of Performance After establishing the standards, the second step is to measure actual performance of various individuals, groups or units. Managementshould not depend upon the guess that standards are being met measurement of performance against standards should ideally be done on a forward looking basis so that deviations may be detected in advance of their occurrence and avoided by appropriate actions.Comparing Performance with Standards Appraisal of performance or comparing of actual performance with pre-determined standards is an important step in control process.Comparison is easy where standards have been set in quantitative terms as in production and marketing. In other cases, where results are intangible and cannot be measured quantitatively direct personal observations, inspection and reports are few methods which can be used for evaluation. The evaluation will reveal some deviations from the set standards. The evaluator should point out defect or deficiencies in performance and investigate the causes responsible for these.Taking Corrective Actions Managers should know exactly where in the assignment of individual or groupduties, the corrective action must be applied. Managers may correct deviations by redrawing their plans or by modifying their goals. Or they may correct deviations by exercising their organizing functions through reassignment or clarification of duties. They may correct, also, by additional stapling or better selection and training of subordinates.
What are the steps involved in the control process?
The essential elements of any control process are• Establishment of Standards• Measurement• Comparing performance with the standards• Taking corrective actionsEstablishment of Standards is the first step in control process. Standards represent criteria for performance. A standard acts as reference line or a basis of appraisal of actual performance. Standards should be set precisely and preferable in quantitative terms. Setting standard is closely linked and is and integral part of the planning process. Standards are used or bench marks by which performance is measured in the control operations at the planning stage, planning is the basis of control.Measurement of Performance After establishing the standards, the second step is to measure actual performance of various individuals, groups or units. Managementshould not depend upon the guess that standards are being met measurement of performance against standards should ideally be done on a forward looking basis so that deviations may be detected in advance of their occurrence and avoided by appropriate actions.Comparing Performance with Standards Appraisal of performance or comparing of actual performance with pre-determined standards is an important step in control process.Comparison is easy where standards have been set in quantitative terms as in production and marketing. In other cases, where results are intangible and cannot be measured quantitatively direct personal observations, inspection and reports are few methods which can be used for evaluation. The evaluation will reveal some deviations from the set standards. The evaluator should point out defect or deficiencies in performance and investigate the causes responsible for these.Taking Corrective Actions Managers should know exactly where in the assignment of individual or groupduties, the corrective action must be applied. Managers may correct deviations by redrawing their plans or by modifying their goals. Or they may correct deviations by exercising their organizing functions through reassignment or clarification of duties. They may correct, also, by additional stapling or better selection and training of subordinates.
What are the steps involved in management process?
The essential elements of any control process are• Establishment of Standards• Measurement• Comparing performance with the standards• Taking corrective actionsEstablishment of Standards is the first step in control process. Standards represent criteria for performance. A standard acts as reference line or a basis of appraisal of actual performance. Standards should be set precisely and preferable in quantitative terms. Setting standard is closely linked and is and integral part of the planning process. Standards are used or bench marks by which performance is measured in the control operations at the planning stage, planning is the basis of control.Measurement of Performance After establishing the standards, the second step is to measure actual performance of various individuals, groups or units. Managementshould not depend upon the guess that standards are being met measurement of performance against standards should ideally be done on a forward looking basis so that deviations may be detected in advance of their occurrence and avoided by appropriate actions.Comparing Performance with Standards Appraisal of performance or comparing of actual performance with pre-determined standards is an important step in control process.Comparison is easy where standards have been set in quantitative terms as in production and marketing. In other cases, where results are intangible and cannot be measured quantitatively direct personal observations, inspection and reports are few methods which can be used for evaluation. The evaluation will reveal some deviations from the set standards. The evaluator should point out defect or deficiencies in performance and investigate the causes responsible for these.Taking Corrective Actions Managers should know exactly where in the assignment of individual or groupduties, the corrective action must be applied. Managers may correct deviations by redrawing their plans or by modifying their goals. Or they may correct deviations by exercising their organizing functions through reassignment or clarification of duties. They may correct, also, by additional stapling or better selection and training of subordinates.
What is the difference between conducting strategic planning and having a strategic mindset?
Conducting strategic planning means that you are planning ways to meet the strategic objectives of your organization. Having a strategic mindset refers to the way you think each day for work and in life.
How to abbreviate the words strategic planning?
how do you abbreviate strategic
What is benchmarking protocol?
Benchmarking protocol refers to a systematic process used to compare the performance, quality, or efficiency of a system, product, or service against established standards or best practices. It involves defining specific metrics, gathering data, and analyzing results to identify areas for improvement. This protocol helps organizations assess their performance relative to competitors or industry standards, enabling informed decision-making and strategic planning to enhance operational effectiveness.
