In this article we will discuss about:- 1. Meaning of Situation Audit 2. Process of Situation Audit 3. Fundamental Purposes 4. Description of Contents. Meaning of Situation Audit: Strategic planning is the process of making current risk-taking decision with the best possible knowledge of the future consequences and situations. It thus requires sensing of expectations and needs, creating awareness throughout [...]
The strategy audit programme is conducted in three stages in succession as following: 1. Diagnosis 2. Focused Analysis 3. Recommendations. Stage # 1. Diagnosis: It includes the following: (i) Reviewing key documents, such as: Strategic plan, Business or Operational plan, Organisational details, Major policies affecting matters, such as resources allocation and performance measurement. (ii) Reviewing performance against yardsticks (strategically determined) [...]
The following points highlight the three main types of plans that are made to achieve the objectives through the company policies. The plans are:- 1. Strategic Plans 2. Intermediate-Range Plans 3. Short-Range Plans. Type # 1. Strategic Plans : They determine both the major objectives of an organisation and the policies and strategies to achieve those objectives. Strategic plans are [...]