Business Strategic Planning

Business Strategic Planning

Length: 1433 words (4.1 double-spaced pages)

Rating: Excellent

Open Document

Essay Preview

More ↓
This paper is a reflection on three simulations as they relate to strategic planning. The first simulation, “Thinking Strategically”, highlights the importance of environmental scanning. The second simulation, “Developing Grand Strategies”, challenged decisions made which lead to effective strategy formulation and choices. The third simulation, “Creating a Strategic Road Map”, provided a simulated experience of how to build a strategic roadmap and the importance and effectiveness of formulating action plans and goals. This reflective approach will convey the lessons learned relative to the importance and effectiveness of the key learning points obtained through each simulation. The concepts and analytical tools that will be used in the Celestica’s strategic plan will be included. The challenges faced by strategic planners will be discussed from the discoveries in the simulations.
The environmental scanning provides the opportunity for advanced insight and provides early warnings for external conditions facing corporations. As shown in the simulation, “Thinking Strategically”, environmental scanning also allows the opportunity for a company to promote vision and direction for all stakeholders. The information gathered as a result of environmental scanning, also provides the company with future trends data and can warn company officials of the declining of trends on the horizon. The simulation also displayed the SWOT analysis as an effective tool of relative importance and effectiveness within environmental scanning. An analysis of strengths and weaknesses is obtained through internal sources, whereas, opportunities and threats information is obtained externally. In identifying the strengths, weaknesses, opportunities, and threats all these factors are critical for the strategy. Analyses of each including a matched pair analysis are essential in determining the future prospects of one’s industry and developing a specific industry niche. In the simulation, the bike company built a business on baby boomers and had a brand image of male extreme bikers. However, women comprise almost half of the biking industry. BJ’s identify key strategy concepts by the use of the SWOT analysis to achieve the long-term vision of becoming the No. 1 specialty bicycle retailer in terms of revenue in the next five years. The approach to increase marketing efforts towards women, including hiring female consultants, seemed the most logical in a global environment where women’s sports and athleticism is gaining in popularity. Scanning one’s environment creates a clearer global portrait and impacts all decisions necessary for optimal business outcomes.
Throughout the simulation, the major lessons learned was the value of utilizing various sources of information and implications that such can have on final outcomes of strategic planning.

How to Cite this Page

MLA Citation:
"Business Strategic Planning." 20 Apr 2019

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Strategic Planning For A Business Development Committee Essay

- Strategic planning is used to ensure that organization’s actions relate to their mission and goals (Berman, 2006). My organization does do strategic planning on a yearly basis when each committee creates work plans that will be utilized for the year. One particular committee that is in need of strategic planning would be our business development committee. My organization runs a main street program and we have four committees each with different goals that work on programming. The business development committee is fairly new and has a weak membership....   [tags: Strategic management, Balanced scorecard]

Research Papers
1567 words (4.5 pages)

Strategic Planning : The Success Of A Business Essay

- “Perception is strong and sight weak. In strategy it is important to see distant things as if they were close and to take a distanced view of close things” —Miyamoto Musashi, legendary Japanese swordsman (Flander). As a swordsman – Musashi life and death depended on the ability to strategically plan. Without true foresight the ultimate deception is believing the present is reality when in fact one’s future holds all truth. Strategic planning is crucial to the success of a business; it also brings value to individual lives....   [tags: Air traffic control, Air traffic controller]

Research Papers
1787 words (5.1 pages)

Norfolk Southern Balanced Scorecard Is A Business Strategic Planning System Used By Management

- Norfolk Southern Balanced Scorecard The Balanced Scorecard is a business strategic planning system used by management to make decisions based on information provided about the business from four different perspectives. The first of the four perspectives is the financial perspective. Which means that we evaluate our business and conduct research from the shareholders perspective. Next is the internal business perspective, which is an internal evaluation of what the business must be good at to excel....   [tags: Strategic management, Business terms]

Research Papers
1153 words (3.3 pages)

Business Strategic Planning Essay

- This paper is a reflection on three simulations as they relate to strategic planning. The first simulation, “Thinking Strategically”, highlights the importance of environmental scanning. The second simulation, “Developing Grand Strategies”, challenged decisions made which lead to effective strategy formulation and choices. The third simulation, “Creating a Strategic Road Map”, provided a simulated experience of how to build a strategic roadmap and the importance and effectiveness of formulating action plans and goals....   [tags: Business Analysis Strategy Management]

Free Essays
1433 words (4.1 pages)

Essay about Developing a Strategic Plan

- Developing a Strategic Plan I. LOOKING AHEAD: PREVIEWING THE CONCEPTS The hard task of selecting an overall company strategy for long-run survival and growth is called strategic planning. II. STRATEGIC PLANNING Each company must find the game plan that makes the most sense given its specific situation, opportunities, objectives, and resources. Strategic planning: The process of developing and maintaining a strategic fit between the organization’s goal and capabilities and its changing marketing opportunities....   [tags: Business Strategic Planning]

Research Papers
2094 words (6 pages)

Scenario Planning Essay

- Nowadays business leaders need to understand environment which is going to be more complex. Organisations are open system so that organisations need to adapt environment which they operate in. Matridakis, Hogarth and Gaba (2010) argued that traditional tools did not fit well to new complex environment. Although complex environment and level of uncertainty cannot be explained by forecasting, most of the traditional method including strategic planning and organizational development method are tried to use past trends and forecast future....   [tags: Business, Strategic Organizational Planning]

Research Papers
1072 words (3.1 pages)

Essay about Developing a Strategic Plan - City Kebab

- Developing a Strategic Plan - City Kebab Please tick the appropriate box: 1. Would you say that there enough Kebab shops in the area of Stratford. Yes No Maybe don’t know 2. When you shop at City Kebab shop what would wish to find in the shop. Chicken Lamb Fries Other 3. What kind of it food and drink would you like buying. Meat Soft drinks Vegetarian food other 4. What kind of sweet food would you prefer buying. Baklava chocolate éclair other 5. What is the most important element for you buying at City kebab....   [tags: Business Strategic Planning]

Research Papers
4155 words (11.9 pages)

Management: Planning Function Essay

- Management: Planning Function Planning is a major function of management. Planning may be the most important of all management functions. Planning involves a six-step process that assists an organization in setting goals and determining how to accomplish them best (Allen, 1998). “Effective planning helps an organization adapt to change by identifying opportunities and avoiding problems....   [tags: Business Management Planning Strategic]

Research Papers
1617 words (4.6 pages)

Essay about Organizational Culture

- ORGANIZATIONAL CULTURE INTRODUCTION Organizational culture today is no longer an irrelevant aspect to become an element of great strategic importance. The development process of the organizational culture allows members to perform certain behaviors and restrict them to perform others. An open work and human culture promotes participation and a proper behaviour from each of the members of the organization, if members commit and are responsable, is because culture allows it, this is a strength that profiles organizations to achieve excellence and reach success....   [tags: business, strategic planning]

Research Papers
1937 words (5.5 pages)

Strategic Planning Essay

- Strategic Planning 1.     Appraise the formal planning efforts at the Copley Company for the period 1981 to 1984. INTRODUCTION Copley Manufacturing Company was primarily a manufacturer of a wide line of cutting tools and related parts and supplies. Late in 1980, Mr. Sagan, director of corporate development and Mr. Albert, executive vice president agreed that regular formal planning should become part of management’s way of life at Copley. EXECUTIVE SUMMARY In 1981, Copley Manufacturing Company had begun formal corporatewide planning....   [tags: Business Planning Essays]

Research Papers
2431 words (6.9 pages)

Celestica can benefit through utilizing material pertaining to statistical studies in relation to historical data gained from previous years of operation reports. For example, industry, population, age, race, and geographic areas can separate this information and locations to assist with making well-informed decisions. The results of such analysis can provide a clear direction necessary for maximizing plan designs. The electronic manufacturing companies can best hedge against practices by knowing their target audience and building company opportunities designed richly to attract such consumers, clients and employees. “The two most prominent sources of competitive advantage can be found in the business's cost structure and its ability to differentiate the business from competitors.” (Pearce and Robinson, Ch. 7).
In the second simulation, “Developing Grand Strategies” was focused on the development of a grand strategy. The toy company Oz was the third largest toy manufacturing company in the country. The company reported $3.5 billion in revenue. Industry reports viewed at Oz predicted that the sales curves were flattening. Oz decided to take a proactive approach to develop a grand strategy that was suitable to the industry reports. “The two most prominent sources of competitive advantages can be found in the business's cost structure and its ability to differentiate the business from competitors.” (Pearce and Robinson, Ch. 7). Strategies, that involve adoption of new technologies, also have sweet spots. Connecting with the right strategy at the right time supported with the right resources will produce the best possible results (Oliver, 2002).
As a result of the “Developing Grand Strategies” simulation, a lesson learned has been the ability to apply analytic tools and concepts in the development of strategic planning. By virtue of Celestica’s geographic locations, certain advantages exist that differentiates the company from competitors. Primary focus within the company has been based on the company’s ability to offer superb customer service to the consumers and the client. Values and corporate culture appear to competitive edge for Celestica. The company has obvious shortcomings that prevent the organization from competing at an optimum level, and therefore, reputation for doing what is right has held Celestica together during times of strategic planning down turns. The company’s customers have the perception that the company is committed to doing what is right by offering superb customer focus to the products that are to be produced. The company’s ability differentiate through increased customer focus is a key component within developing a grand strategic consistent with Celestica’s mission and values statement (Celestica Website, 2004).
Developing a vision and determining what is critical for the business will aid in making key business decisions. In experiencing the Grand Strategy with Oz, the strategy used is in response to the internal and external conditions of the business systematic processes. As the company builds on strengths and weaknesses, the strategy is to create and sustain a competitive advantage. If a potential opportunity arises, the opportunity should be consistent with what is important to the values and vision of the business. The key point in a business strategy is figuring out what you're not going to do, not just what you are going to do (The Bangkok Post, 2002).
In looking at the “Creating a Strategic Road Map” simulation, there were several lessons applied regarding the importance and effectiveness of the formulation of action plans and goals. The basis for the formulation of action plans and goals are geared toward long-term company objectives. From the simulation, ConstructWell is the leading provider in the specialized construction service focusing on commercial and infrastructure segments in North America. The company dominated the largest construction market. Organizational success made the company vulnerable for a takeover by a larger corporation. ConstructWell decides to set long-term objectives that countered the take over bid and made long-term strategic decisions designed to rank the company at the top of the industry. A team was formulated to develop a strategic roadmap to accomplish the objectives that had been set. A strategic roadmap helps to place organizational strategies with the company vision and long-term objectives. Once an organization has identified workable long-term goals, the company can begin work on developing strategies to meet those set goals. Every decision made within the firm must be done in alignment with the ultimate goal of meeting the described long-term objective. Using the SWOT chart is integral in this step. These strategies will be implemented through the attempt of defining long-term goals for Celestica by creating alternatives with specific goals to provide tangible measures of progress. Goals help assist an organization in measuring progress in a manner consistent with the long-term objectives of the organization by having the knowledge of the desired direction.
In conclusion, the first simulation, “Thinking Strategically”, highlighted the importance of environmental scanning. The second simulation, “Developing Grand Strategies”, challenged decisions made which lead to effective strategy formulation and choice. The third and final simulation, “Creating a Strategic Road Map”, provided a simulated experience of how to build a strategic roadmap and the importance and effectiveness of formulating action plans and goals. These are the challenges that currently face strategic planners. To remain competitive, companies traditionally cut costs, trim balance sheets and return to their core competencies. Companies search for alternative ways to handle activities that are essential to their businesses. Celestica, like the mentioned companies in the three simulations are all challenged to produce an outcome that is beneficial to the bottom line of the business. Alternative methods run the scope from purchasing a new, better management system, to hiring someone to handle it for them, to the occasional borrowing of another company's facilities (Krizner, 2002).

Celetica (2004). Celestica’s Capabilities and About Us. Retrieved on September 18,

2006, from Website:
Krizner, K. (2000, April). New strategies let companies concentrate on their core
competencies. Frontline Solutions, 1(4), 30-33.
Oliver, R. W. (2002, March/April). The Strategic Sweet Spot. The Journal of Business
Strategy, 23(2), 6-9.
Pearce & Robinson. (2005). Strategic Management (9th ed.). New York: McGraw-Hill.
Retrieved from the University of Phoenix on 10/17/2006: Website;
The Bangkok Post. `Shooting for the stars'' through strategic planning. (2002, January 23).
Return to