(BOOST YOUR GRADES FOR 2024 EXAMS). WGU c483 Principles of Management - 1: Strategic Planning, Questions and answers, 100% Accurate. VERIFIED. What is Strategic Planning?

WGU c483 Principles of Management - 1: Strategic Planning, Questions and answers, 100% Accurate. VERIFIED. What is Strategic Planning? Overview- The graduate can explain the strategic planning process. -The fundamental aspect of being in business and trying to figure out where we're going to be in the future Questions companies ask? Describe the concepts of strategic vision (intent) STRATEGIC INTENT The foundation for the strategic management is laid by the hierarchy of strategic intent. The concept of strategic intent makes clear WHAT AN ORGANISATION STANDS FOR HARVARD Business Review, 1989 described the concept in its infancy HAMED AND PRAHALAD coined the term strategic intent. A few aspects about strategic intent are as follows: · It is an obsession with an organization. · This obsession may even be out of proportion to their resources and capabilities. · It envisions a derived leadership position and establishes the criterion; the organization will use to chart its progress. · It involves the following: o Creating and Communicating a vision o Designing a mission statement o Defining the business o Setting objectives Vision serves the purpose of stating what an organization wishes to achieve in the long run. Three Levels of Planning Hierarchy 3 levels of management Strategic- top level/big picture Tactical- middle level/managerial level (2years) Operational- Front line workers/ dealing with customers (1 year)