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Strategic planning is deciding what a company will do. Operational planiing is deciding how that will be done. For example, Kodak made a strategic decision to enter the digital Photography business when the tradition film market began to deteriorate. They decided what products offered opportunities in that industry. Then, they had to formulate an operational plan - product development, manufacturing process and location, etc. The operational plan will also include some strategic planning. For example, the Marketing department had to decide how to best position the products in the marketplace (and which markets or locations) and then plan how to design the marketing materials.
Strategic decisions are fundamental and directional, and over-arching. Operational decisions, on the other hand, primarily affect the day-to-day implementation of strategic decisions. While strategic decisions usually have longer-term implications, operational decisions usually have immediate (less than one year) implications.
A strategic decision is a decision that affects the overall longer term direction of a business. It is made by management of a business. The operational decisions are those that affect day to day running of a business and can be made by junior employees.
Strategic planning is done for more than one fiscal year and for long term while operational planning is done for one fiscal year and short term planning.
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Do you believe strategic management is more an art or a science Explain?
/Do_you_believe_strategic_management_is_more_an_art_or_a_science_Explain
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Project and Production are 2 totally different concepts, so I don't think it's reasonable to compare them together. The are 4 phases in the project lifecycle: * Initiating * Planning * Implementing * Closing
Explain current shunt negative feedback amplifier?
describe current-shunt negative feedback as applied to operational amplifiers, including derivations of the gain relation for each type of negative feedback.
What are the basic operational concepts of computer?
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What is the role consultants play in the strategic planning and management process of a company. Is it an essential role?
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Briiefly explain types of planning?
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Explain the difference between strategic planning and strategic intent?
The difference between strategic planning and strategic intent lies in their focus and scope. Strategic planning involves a structured process of defining an organization's goals, outlining steps, and allocating resources to achieve those goals over a set period. It’s more detailed and tactical. On the other hand, strategic intent refers to the broader vision or long-term aspiration that drives the organization’s actions, focusing on the desired future state. While strategic planning is the roadmap, strategic intent is the destination. For more insights into these concepts, visit PMTrainingSchool .Com (PM training).
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Explain why the strategic management class is often called a capstone course?
- Explain why the strategic management class is often called a " capstone course "
