Strategic planning – a process of setting goals and determining ways to achieve them – is fundamental for making all management decisions.
Strategic planning can be used at different levels – the corporate (analysis and forecasting of a particular company), field level (sector analysis) and the state or municipal level.
Corporate level strategic planning
The key stages in strategic planning at the corporate level involve defining a company’s goals and mission, analyzing its strengths and weaknesses, and identifying opportunities based on the results of an external or internal environment study. Focus on a particular time period, the concreteness and measurability of the expected results, the consistency of available resources, and control of work stages are crucial considerations when it comes to corporate strategic planning.
Field level strategic planning
Undertaking field level strategic planning can help answer a variety of questions regarding the situation in a particular industry today, the factors that influence development in a given area, and how an industry will function in the future.
State and municipal level strategic planning
The main purpose of strategic planning at the state and municipal levels is to define strategic development priorities for a territory (region, municipality), which ensure a high quality of life in the region and strong economic growth over the long term. Experts from the Centre for Applied Economics are involved in a wide range of activities, including socio-economic analysis, competitive advantage assessment, medium-term macroeconomic development forecasting, strategic objectives determination, and development of social and economic advancement programmes.
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