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 [...]
In this article we will discuss about:- 1. Concept of Corporate Strategy Audit 2. Outline of Corporate Strategy Auditing Process 3. When to Conduct Strategy Audit 4. Reasons for Organising Strategy Audit Periodically. Concept of Corporate Strategy Audit: The core of strategy audit, for any corporate entity, lies on two important questions: (i) How well a strategy is working, and [...]
In this article we will discuss about the concept of gap analysis, explained with the help of suitable diagrams. In preparing the situation analysis and audit, a thoughtful forecast is usually made for sales or profits of current products as well as those that are to be added in the future. If the forecasts are not equal to the desired [...]