Part 11: Can You Explain The Five Steps To A Strategic Plan?

Part 11can You Explain The Five Steps To A Strategic Plan According

Can you explain the Five Steps to a Strategic plan according to the Forbes article and how could they help large organizations? Is it too simplistic for Medium or Large size companies? 400 words

After reading the article in the link below, which talks about the risk and impact that big organizational changes could have in an organization, please answer the question below. What gives you the energy to roll out of bed every morning, put our shoes on, and show up at the office with your game face on? 400 words

After reading the information below regarding Blue Oceans, please answer the following question. It is sometimes hard to find the actual application of concepts that we are exposed to in our books could be confusing. Think of opportunities for creating your Blue Oceans and how to apply the theory to make it a reality. Can you think of a product/service that could take advantage of the creation of a Blue Ocean? 400 words

Recall the readings and activities you have completed this week, and describe the one or two points that were least clear to you. What questions do you have that would help you understand these points better?

Part B Final Strategic Plan Create a Word Document with the Final Strategic Plan. The Final Strategic Plan contains the elements of all the previous weeks' components and incorporates instructor feedback. The strategic recommendations will be evaluated and the best options chosen for recommendation. The final strategic plan contains: Table of Contents Executive Summary (350 to 700 words) Company Background Mission Statement Vision Statement Value Statement Environmental Scan (week 3) Internal and External Environmental Analysis ( week 4) Strategic Recommendation ( week 4) Implementation Plan ( week 5) Organizational Change Management Strategies ( week 5) Risk Management Plan ( week 5) Conclusion References ( combine all weekly references) PLUS - Create a 25- to 35-slide Microsoft ® PowerPoint ® presentation with speaker notes to present the strategic plan, combining all relevant elements from previous weeks. The objective is to sell the strategic plan to investors or company directors.

Paper For Above instruction

The strategic planning process is vital for organizations seeking sustainable growth and competitive advantage. Among various frameworks, the five-step strategic planning model outlined by Forbes offers a simplified yet effective approach that can significantly benefit large organizations. These steps—defining the mission, diagnosing the environment, formulating strategy, implementing the plan, and evaluating results—form a structured pathway that guides companies through complex decision-making processes. While critics argue that this approach may be too simplistic for medium or large-scale enterprises due to their inherent complexity, it serves as a foundational guide that, when adapted appropriately, can support even extensive organizations in aligning their objectives and fostering strategic coherence.

The first step involves clearly defining the organization’s mission, which establishes purpose and guides decision-making. Large organizations benefit from this clarity by ensuring all departments and stakeholders are aligned around shared goals, thereby enabling cohesive action. The second step—diagnosing the external and internal environment—entails analyzing opportunities, threats, strengths, and weaknesses. For corporations operating in dynamic markets, this comprehensive analysis supports agility and strategic responsiveness. The third step focuses on formulating strategies based on insights gathered, which involves choosing competitive positioning and resource allocation. Executing these strategies requires meticulous planning, aligning resources, and overcoming bureaucratic inertia common in large entities.

The final steps—implementation and evaluation—are crucial for translating strategy into action and ensuring that objectives are met. Regular performance assessments and feedback loops enable organizations to adapt strategies in response to market changes or internal shifts. For large companies, these steps often require robust communication channels and change management practices to ensure effective execution.

While the five-step model appears straightforward, its effectiveness depends on the organization’s ability to adapt the framework to its complexity. Large organizations may find it overly simplistic if they attempt an unmodified application; thus, integrating more nuanced tools, such as scenario planning or balanced scorecards, can enhance strategic robustness. Nonetheless, the core principles remain valuable for guiding strategic thinking and ensuring organizational coherence across multiple levels.

In conclusion, Forbes’ five-step strategic planning model offers a practical foundation that, with appropriate customization, can support large organizations in achieving strategic clarity, operational alignment, and continuous improvement. Its simplicity serves as a strength in providing focus amid complexity, allowing organizations to navigate rapid changes efficiently and effectively.

References

• Grant, R. M. (2019). Contemporary Strategy Analysis: Text and Cases. Wiley.
• Kaplan, R. S., & Norton, D. P. (1996). The Balanced Scorecard: Translating Strategy into Action. Harvard Business School Press.
• Thompson, A. A., Peteraf, M., Gamble, J. E., & Strickland, A. J. (2018). Strategic Management: Concepts and Cases. McGraw-Hill Education.
• Porter, M. E. (2008). The Five Competitive Forces That Shape Strategy. Harvard Business Review.
• Thompson, A. A., & MacMillan, I. C. (2010). Strategic Management: Awareness & Change. McGraw-Hill.
• Barney, J. B., & Hesterly, W. S. (2019). Strategic Management and Competitive Advantage: Concepts and Cases. Pearson.
• Kim, W. C., & Mauborgne, R. (2005). Blue Ocean Strategy. Harvard Business Review Press.
• Forbes. (n.d.). The Five Steps to Strategic Planning. Retrieved from https://www.forbes.com
• Johnson, G., Scholes, K., & Whittington, R. (2017). Exploring Corporate Strategy. Pearson.
• David, F. R. (2017). Strategic Management: Concepts. Pearson.