The term 'objectives' has been defined differently by different authorities in management literature. Some of them are given below: 1. 'Objectives here are the statements of planning purpose developed within any kind of business plan. They are established within the framework of a planning process, and they normally evolve from tentative and vague ideas to more specific declarations of purpose. [...]
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. [...]