Major Concepts That Involve Strategic Planning Essay

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Companies big or small all have a vision. There is a purpose for their existence and they have goals they must accomplish in order to be successful. In order to achieve those goals there must be a plan. Strategic planning happens in all types of business. It is a crucial element that if not done correctly, or not monitored could be the reason for a failing company. A company develops a strategic plan in the beginning but as time goes on it can change. This paper will go over the major concepts that involve strategic planning. As well as what challenges a manager faces when implementing organizational change, and how companies can face unplanned changes. Along with that it describes what a SWOT analysis is, and how to use one to analyze a company.
Major Strategic Concepts In order to plan strategically the company must be managed very well. The questions a company will ask are, “Where are we now?” “Where do we want to go” and “How are we going to get there?” to start managing strategically (Gamble, Thompson 2011). Normally the vision is developed by upper management. This is what the company wants to accomplish, it is the future of the business. It is like a boat the upper management would be the captain, they are up higher than everyone else because they need to see far ahead in order to steer the ship where it needs to go. The vision is for a company is not normally changed (Gamble, Thompson 2011). It is what the company is built on. However, the strategy to achieve the…

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