Planning School (Strategy) - Explained
What is the Planning School of Strategy?
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What is the The Planning School of Strategy?
The Planning school focuses on procedure formalization as a strategy. As such, it takes a planned, procedural approach to strategy development.
- Strategies results from a controlled, conscious process of formal planning, divided into different steps delineated by checklists and supported by techniques.
- Responsibility for the overall process is on the chief executive‘s hands, while in practice the responsibility of execution is on the hands of planners.
- Strategies appear completely developed after the planning process so they can be implemented through a strict control and execution of diverse objectives, programs, budgets and operations.
It is a precursor to the concept of strategic management.
Back to: STRATEGY & PLANNING
Pursuant to this school a strategic plan can be developed in a series of steps based on the SWOT (strength, weakness, opportunity, threat) of the firm and environment.
This approach naturally gives rise to detailed processes and checklists.
The Planning School is often considered a formalization of the basic strategic outlook developed by the Design School.
What are the Stages of a Strategic Plan?
A strategic plan consist of at least six stages:
- Objective Setting
- External Audit
- Internal Audit
What is the Objectives Setting Stage?
Qualifying and quantifying goals.
What is the External Audit Stage?
Assessing the external (competitive) environment for opportunities and threats. The focus is forward-looking in an attempt to project future conditions.
What is the Internal Audit Stage?
Assessing the internal environment (resources, abilities, organization) for opportunities and threats.
What is the Evaluation Stage?
Evaluate potential strategies that fit the objectives, internal and external environment.
What is the Operationalization Phase?
Implement the strategy through organization and coordination of resources and activities. This is done through extensive details, creation of sub-strategies, action plans, and checklists for execution. It also gives rise to new hierarchies of objectives and actions at different levels in the organization. It also leads to long-term and short-term plans or components of plans.
What is Scenario Planning?
This is an approach to identify potential long-term, flexible plans.
What is Strategic Control?
This is a strategy-making style in which the organization focus on maintaining standards and adherence to their existing plans.
- How Strategies Arise
- Intended, Deliberate, Realized, and Emergent Strategies
- Management and Strategic Planning
- Mintzberg's Schools of Strategic Development
- Design School
- Planning School
- Positioning School
- Entrepreneurial School
- Cognitive School
- Learning School
- Power School
- Culture School
- Environmental School
- Configuration School
- Mintzberg's 5Ps of Strategy
- McKinseys 7s Model
- ***Industry Analysis to Build a Strategy***
- Strategic Analysis
- SWOT Analysis
- SPACE Analysis
- Situational Analysis - 7C
- Competition Profile Matrix
- Stakeholder Analysis
- Stakeholder Mapping
- Resources and Capabilities
- Core Competency
- VRIO Analysis
- Value Chain Analysis
- Internal Factor Analysis
- Value Creation Index
- Minimum Efficient Scale
- PEST(LE) Analysis
- Industry Lifecycle Analysis
- Company Lifecycle - Definition
- Porter's Five Forces
- Modes of Management
- External Factor Evaluation
- Business Performance Measurement
- Balanced Scorecard
- Economic Value Added
- Activity-Based Management
- Quality Management
- Action Profit Linkage Model
- Business Activity Monitoring
- Gap Analysis
- Strategy Diamond
- BCG Growth-Share Matrix
- GE McKinsey Matrix
- Value Reporting Framework
- Pyrrhic Victory