Strategic planning: It denotes a process that helps managers identify desired outcomes as well as formulate plans to achieve objectives. It uses the capabilities and resources that are available. The changing nature of organization and surroundings should be considered. It provides a framework and a direction that is clearly defined for guiding decision making at all levels. It ensures most effective usage by focusing resources based on priorities. It enables organization to be proactive and take advantage of opportunities as well as trends. It enables all units to work together towards common goal. It provides measures to evaluate performances. It improves communication among the organization. Hypothetical objectives: The hypothetical objectives specific to finance organization are shown below: Attract, engage, develop and retain are the world’s best financial people. Enhancing social welfare by interest of employees, government and trade union.

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Chapter 11.1, Problem 2CTQ

Program Plan Intro

Strategic planning:

It denotes a process that helps managers identify desired outcomes as well as formulate plans to achieve objectives.

It uses the capabilities and resources that are available.

The changing nature of organization and surroundings should be considered.

It provides a framework and a direction that is clearly defined for guiding decision making at all levels.

It ensures most effective usage by focusing resources based on priorities.

It enables organization to be proactive and take advantage of opportunities as well as trends.

It enables all units to work together towards common goal.

It provides measures to evaluate performances.

It improves communication among the organization.

Hypothetical objectives:

The hypothetical objectives specific to finance organization are shown below:

Attract, engage, develop and retain are the world’s best financial people.

Enhancing social welfare by interest of employees, government and trade union.

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