Propose a suitable structure for a strategic plan that ensures appropriate participation from stakeh

Engaging stakeholders in the strategic planning process

The choice will depend on the predisposition of your planning team and your particular circumstance. Team Spirit 5. So, FNI need to link the private or public bank companies to be a cooperate business group. They expect to be a standard level of insurance industry. Finally, and most importantly, do not engage in strategic planning if your key stakeholders are unwilling to commit time, money, and effort to the venture. It can be used the expertise comments to determine for each factor, decision making high and low about the significant factors. Actively involve stakeholders in the process. Not every organization needs the in-depth approach required to create a formal strategic plan; in many cases, a two-page action plan to get you through the next eighteen months is sufficient. Do not engage in strategic planning when there is no chance that the plan will be implemented. Just remember as you get ready to plan for your next — or very first — plan, that truly effective strategic planning requires equal measures of leadership, commitment, patience, trust, and the participation of many stakeholders.

This proposed structure can help to improve effective differentiation strategy. Financial resource 38 P a g e Strategic Planning FNI need to calculate the estimate budget about the financial of the organization.

Propose a suitable structure for a strategic plan that ensures appropriate participation from stakeh

Develop measures of their work that show them how well they are contributing to desired strategic outcomes, and provide feedback on these measures frequently and consistently. Planners often call this a situational analysis or audit. She is a former faculty member at the University of Washington's Graduate School of Business and an active consultant. Without such an investment, planning is a useless activity. Trading Business Division , 9. So, it can measure enough with these two companies for weighted competitive strength assessment. Mass media is a communication whether written, broadcast, or spoken that reach a large audience. Extend the Marketing strategies 4. Process-based evaluation 3. Instead, appoint another organizational leader to moderate the discussions and keep the process on track. We also know that where more people are involved in a joint process of common interest, the quality of output is higher. Social Welfare Law: The Ministry of government resettlement the social welfare law which support about the employee life. Another describing strategies is horizontal integration which can be used the most suitable the at same level of value chain. We can expect to growth many area insurance sectors in Not every organization needs the in-depth approach required to create a formal strategic plan; in many cases, a two-page action plan to get you through the next eighteen months is sufficient.

It may be forming partnership with the oversea insurance companies. Help employees understand the difference between strategic initiatives long-term, big picture and the tactical day-to-day work with which they are most familiar.

Strategic planning process steps pdf

Product Development: To introduce new product targeted with existing markets. Organizations that are already strapped for resources can save valuable money, time, and effort by avoiding the trap of using the planning tool to resolve problems that are systemic. So, this figure illustrates the two dimensions. Instead, the board as a whole should review the plan at regular intervals and, if necessary, suggest adjustments to keep the organization on track. Learning and growth Insurance Test the exams All trainees pass Highly skillful education and and workshops the tests and lecturer , It should training and coaching exams be Strategy and corporate planning Department. This will contribute to realise a well-designed project and to be successful with your initiative! People become more aware of risks in their lives.

We foster community and employee involvement through problem-solving partnerships. Quality circles, Progress reviews 6.

importance of strategic planning

Make sure people know what the strategic plan is and where they fit in it. So, this presentation method is the appropriate methods to be involvement and can get commitment from key stakeholders. Be wary of stakeholders who seem to have an individual agenda, or who hold fast to predetermined notions.

Rated 7/10 based on 17 review
Download
Strategic Planning: Five Steps to a More Secure Future