PROCESS OF STRATEGIC PLAN

BY MOHAMMAD SAQUIB 10MBA-47/MU E-mail: saquibzuberi@gmail.com

STRATEGIC PLAN
Strategic plan also called corporate, group or perspective plan. It is a document which provides information regarding the different elements of strategic management and the manner in which an organization and its strategic purpose to put the strategies into action.

INFORMATION CONTAIN IN A STRATEGIC PLAN

A clear statement of strategic intent covering the vision, mission, business definition, goals and objectives. Results of environmental appraisal, major strength and weakness and core competencies. Strategies chosen and the assumptions under which the strategies would be relevant. Contingent strategies to be used under different conditions.

 strategic budget for the purpose of resources allocation for implementing strategies and the schedule for implementation. Proposed organizational structure and the major organizational system for strategic implementation including the top functionaries, there role and responsibility.

 Functional strategies and the mode of there implementation. Measures to be used to evaluate performance and assess the success of strategic implementation.

FORMAT OF STRATEGIC PLAN

A strategic plan document could run into several pages and be treated as a formal report. Another possibility is that a brief document of three to five pages could briefly cover all the points.

STRATEGIC PLAN OF INFOSYS TECHNOLOGIES

Infosys technologies had a strategic planning process based on the time horizons one year, three years and for a period of five to eight years. The five to eight year strategic planning has the following components: Annual strategic planning: to identify themes relevant to the company Strategy implementation: a change management programmed

 Competitive analysis: based on five year model of competition that takes into account the competition likely to be faced from local and companies Scenario planning: look at the areas such as currency rates movements or technologies

 The three year business planning has following components: Business planning: for creating specific plan for each business unit Goal alignment: mechanism to ensure that all business units are moving towards the predetermine goals Portfolio management: to analyze business unit for the purpose of investment

 Annual planning process has the following elements: Resource planning: to asses the space and infrastructure requirement Budgeting process: for quarterly realignment Risk management Operational review

SURVEY CONDUCTED BY BUSINESS TODAY

Survey conducted of 160 companies 56% of the total had published business strategy Among them 77% were giant companies, 69% were large, 53% were medium sized and 45% were small companies. Time period covered in the strategic plan was less then three years for 44% of the companies, 40% planed for three to five years, while 16% did it for more than five years.

 Core public enterprise have to link there corporate plans with the national five year plans. Such as BHEL, SAIL, HMT. Private sector companies too formulate strategic plan multinational companies (MNCs). Subsidiaries often have to prepare and plan the documents to be submitted to there parent companies for approval.

CONCLUSION
With this discussion of the strategic plan we come to end the formation of strategic plan document provides a means not only to formalize the efforts that goes into strategic planning but also for communicating to insider and outsiders what the company stand for, and what it plans to do in a given future time period