In this article we will discuss about the effects of organisation mission on objectives of a business. An organisation must first establish an overall mission or purpose before it determines its objectives. The organisational mission identifies the function that the organisation intends to perform within its social or economic system. As shown in the diagram below, specific objectives, strategies, programmes, [...]
In this article we will discuss about the analysis of strategic factors used for making useful strategic identification which is needed for the success of a company. Strategic factors are those key issues that are strategically relevant and that will determine the success of any company in a particular industry and at a given stage in its life cycle. The [...]
Fundamentally, there are four different approaches to do formal strategic planning. The approaches are:- 1. Top-Down Approach 2. Bottom-Up Approach 3. Mixture of the Top-Down and Bottom-Up Approaches 4. Team Approach. 1. Top-Down Approach: In a centralised company, such planning is done at the top of the corporation and the departments and outlying activities are advised straightway what to do. [...]