Tags: City Lit Creative WritingAn Abstract For A Research PaperPurpose Of The Business PlanAcknowledgement Sample For DissertationFinancial Accounting AssignmentSummarise An Essay
The first one is that the firm foresees both potential opportunities and threats in order to meet its vision and mission.The second step is that the small businesses make decisions on how best they can respond to potential business opportunities and threats that they will encounter.Knowing where the businesses have come from, where they are now and where they expect to go is very important during strategic planning process (Neely, 2002).
The application of Action Research methodology, appropriate for workplace based learning is reaffirmed through my collaboration with these managers in solving these two workplace problems.
Real time distilled learning is acquired through reflection-in-action during the projects and past learning is distilled through reflection-on-action which when combined makes up the total reflective learningexperience through workplace based learning.
The strategic planning process helps small business organizations to identify their available resources and hence plan on how to appropriately and effectively utilize the resources for maximum benefit of the small businesses.
Besides, it provides a framework within which a small business organization can operate so as to realize both of its short-term and long-term objectives.
This criticism is rightly justified because managers are often at a loss when required to formulate strategies.
The managers engaged in the development of the Strategy Formulation Process (SFP), strategy models based primarily on Porter’s (2004) work on competitive strategy, the Integrated Situation Assessment Framework (ISAF) and other various strategy models reported that they have become more equipped and knowledgeable toundertake such future assignments.Likewise, the managers engaged in the development of the strategy implementation evaluation process (PEAR), Situation Implementation Effectiveness Evaluation (SIEE) model and matrix based on the academic work of the strategyevaluation by Johnson, Scholes and Whittington in 2008 have also reported that these new tools and processes are helpful in their understanding of how to evaluate thestrategy and their implementation effectiveness.Their reflection and learning point to 'change' and new knowledge in terms of both academic and functional knowledgewhich has benefited both business stakeholders and related community have been documented.Alternatively, strategic planning can be defined as a management tool used for the purpose of enabling an organization to work effectively and efficiently towards achieving its goals and objectives.The process of managing the operations of a business is referred to as strategic because it entails how best a business organization respond to the circumstances arising from a dynamic and in other cases hostile business environment.In this case, strategic planning is very crucial for small business organizations.Small business organizations require to be more committed to strategic thinking and actions more than the large scale established business entities.Strategic planning is a process of making certain choices within an organization.It can be defined as a designed process that is meant to support organizational leaders both locally and internationally in terms of operations methods, goals and objectives.This dissertation, which is also referred as the Summary of Learning of a professional doctorate, is intended to 'pull together all the learning that had taken place' situated at the workplace.As this doctorate is oriented towards professional practice, with its emphasis on theory informing practice and practice in turn refiningtheory, it therefore includes distilled professional learning from the past as well as the learning synthesised from the workplace based projects.