To determine:
The strategic plan for the college/ university to compete for students in the marketplace.
Introduction:
Planning is a process of making the plan before executing any work. The process of planning includes identification of goals and objectives, formulation of strategies, creating the means required and implementation and monitoring.
The First step of planning is to establish a strategic goal. The strategic goal is a statement defining where the company wants to be in the future. The strategic goal represents the whole organization's goal rather than to the goal of a division or department. After setting the strategic goal, the organization prepares its strategic plans. Strategic plans define the action steps by which the company intends to attain strategic goals. Strategic plans are actually the blueprint that defines the organizational activities and allocations required for meeting long terms targets.
Trending nowThis is a popular solution!
Chapter 7 Solutions
Management (MindTap Course List)
- 2-6. What is business portfolio analysis?arrow_forwardWhat are the potential risks and challenges that organizations may face during the planning phase, and how can they mitigate them?arrow_forwardHow can organizations anticipate and respond to potential disruptions and uncertainties in their long-term plans?arrow_forward
- The obligations of an investor-owned company's board of directors in the strategy-making, strategy-executing process include A) taking the lead in developing the company's business model and strategic vision. B) coming up with compelling strategy proposals to debate against those put forward by top management. C) taking the lead in formulating the company's strategic plan but then delegating the task of implementing and executing the strategic plan to the company's CEO and other senior executives. D) overseeing the company's financial accounting and financial reporting practices and setting CEO compensation. E) approving the company's operating strategies, functional-area strategies, business strategy, and overall corporate strategy.arrow_forwardWhat are some best practices for effective communication and collaboration among managers and employees during the planning process?arrow_forwardIs it not enough for a company to analyze its own strengths and weaknesses? Justify your answer.arrow_forward
- What are the key components of the planning process? How do they work together to ensure effective planning and goal attainment?arrow_forwardHow can organizations incorporate flexibility and adaptability into their long-term planning efforts?arrow_forwardIs the model an accurate representation of reality?arrow_forward
- Descriptive, Prescriptive, and Predictive Analytics, are methods used to determine outcomes for businesses. How are they different from each other? When are they used? Pretend that you are a Data Analyst in a company, how would you apply or used some of these methods?arrow_forwardOutline a strategic plan for yourself to begin planning for a job after graduation. Include your value proposition, targeted organizations, objectives, strategies, and the internal and external factors that may affect your plansarrow_forwardHow can stakeholder engagement and collaboration be leveraged to enhance long-term planning outcomes?arrow_forward
