How do the economic concepts in this course affect strategic planning

Learn how to develop strategies for how you are going to get things done. What are the criteria for developing a good strategy? When should you develop strategies for your initiative? How do you develop strategies?

How do the economic concepts in this course affect strategic planning

The result should be a document that everyone involved in the planning process understands and supports.


If nothing else it should be user friendly and provide clear picture of the organization and where it is heading.

The process is strategic because it involves choosing how best to respond to circumstances of a dynamic and sometimes hostile environment Strategic planning is systematic in that it calls for following a process that is structured and in the case of Title I planning "data based" Strategic planning involves choosing specific priorities The process is about building commitment or buy in Strategic planning guides the acquisition and allocation of resources Whether the organization is big or small the most important impact of strategic planning should be to focus attention on why the organization exists and why a number of persons are interested and committed to its purpose to such an extent that they are willing to work to make it thriving.

Successful strategic planning advances the focus of an organization in that it generates: A clear understanding of the organization's mission, vision and values among key stakeholders A road map for action based on what is happening now Benchmarks by which we can determine achievement Information that can be used to market the organization.Strategic Planning Failure – Mark Mendenhall, Encyclopedia of Business Organizational Culture is the commonly held attitudes, values, beliefs and behaviours of its employees.

The culture of an organization is as unique and diverse as an individual’s personality. The strategic-planning process utilizes analytical models that provide a realistic picture of the individual, corporation, or nation at its “consciously incompetent” level, creating the necessary motivation for the development of a strategic plan.

Make sure that your strategies affect the problem or issue as a whole. What potential strategies reach those at particular risk for the problem?

How do the economic concepts in this course affect strategic planning

For example, early screenings might help focus on those at higher risk for heart disease or cancer; past academic failure or history of drug use, for identifying with whom support and other intervention efforts might be focused. Feb 04,  · Economics: Profits, Costs and Business Decisions ECO/ Dr.


Warren Matthews August 18th, Economic Growth Week six focuses on the use of economic concepts in making business decisions and how businesses should use the integration of economic concepts and strategic.

ECO/ Week 6 DQ’s Based on your knowledge of strategy formation, how do the economic concepts in this course affect strategic planning?

According to a study by Daniel Kahneman (a behavioral economist) and Angus Deaton (a microeconomist that has made significant contributions in the realm of demand analysis), "Emotional well-being also rises with log income, but there is no further progress.

Effects of Legal, Regulatory, and Economic Issues on the Development of a Strategic Plan The question is on strategic management. What I do not understand is the how does the legal, regulatory, and economic issues affect strategic planning.

Strategic Management Concepts, Competitiveness & Globalization |