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    Strategic Planning Operational Planning

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    Charmaine Magyaya
    This document discusses strategic planning, operational planning, and strategic thinking. It provides definitions and comparisons of strategic planning versus operational planning. Strategic planning focuses on long-term goals and alternatives, while operational planning focuses on short-term targets. Strategic thinking informs strategic planning and management by assessing long-term impacts of actions. Management accountants can contribute to strategic management through financial research to support strategic decision making.

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    Strategic Planning Operational Planning

    Uploaded by

    Charmaine Magyaya
    45 views2 pages
    This document discusses strategic planning, operational planning, and strategic thinking. It provides definitions and comparisons of strategic planning versus operational planning. Strategic planning focuses on long-term goals and alternatives, while operational planning focuses on short-term targets. Strategic thinking informs strategic planning and management by assessing long-term impacts of actions. Management accountants can contribute to strategic management through financial research to support strategic decision making.

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    STRATEGIC ANALYSIS

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    This document discusses strategic planning, operational planning, and strategic thinking. It provides definitions and comparisons of strategic planning versus operational planning. Strategic planning focuses on long-term goals and alternatives, while operational planning focuses on short-term targets. Strategic thinking informs strategic planning and management by assessing long-term impacts of actions. Management accountants can contribute to strategic management through financial research to support strategic decision making.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    45 views2 pages

    Strategic Planning Operational Planning

    Uploaded by

    Charmaine Magyaya
    This document discusses strategic planning, operational planning, and strategic thinking. It provides definitions and comparisons of strategic planning versus operational planning. Strategic planning focuses on long-term goals and alternatives, while operational planning focuses on short-term targets. Strategic thinking informs strategic planning and management by assessing long-term impacts of actions. Management accountants can contribute to strategic management through financial research to support strategic decision making.

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    For this assignment, provide three to five statements per each questions asked.

    1. What is your understanding of the term strategy? 


    A strategy is a broad plan for achieving one or more long-term or overall
    goals in the face of uncertainty. Setting goals and priorities, determining actions
    to achieve the goals, and mobilizing resources to carry out the actions are all part
    of strategy. A strategy describes how the ends will be achieved by the means. It
    entails tasks such as strategic planning and strategic thinking.

    2. Differentiate strategic planning from operational planning.


    STRATEGIC PLANNING OPERATIONAL PLANNING
     Long-term (usually 5-10 years)  Short-term (1 year or less)
     Focuses on future  Achievements or targets annual
    achievements and conditions
     Weighs a series of alternatives  Planned activities represent
    before making fundamental choices already made;
    choices alternatives are not considered
     Usually integrates several  Tend to focus on one unit or
    functions, levels, components related set of activities
    simultaneously
     Integrates strategies for  Resources for implementation
    resource mobilization with usually already identified
    activities (sustainability plans)
     Usually requires ratification  No formal action or ratification
    from governing structures required

    3. Discuss the concept of strategic thinking in relation to strategic planning and


    strategic management.
    The goal of strategic thinking is to determine where you want to go and
    what you want to accomplish and when you need to make an informed decision,
    solve a problem, or improve a process, this tool comes in handy. Strategic
    thinking allows you to assess the long-term benefits and drawbacks of a given
    course of action. Without strategic thought, strategic planning would devolve into
    a sluggish and lifeless process of goal-setting and measurement. In the quest for
    structure and procedure, strategic thinking without strategic
    planning/management will consume itself. Strategic planning and management
    are informed by strategic thinking. Strategic planning and management offers
    strategic thinking a voice, action, and structure.
    4. Based from your readings, what contribution can the management accountants
    offer in strategic management?
    Management accountants use their specific experience (decision making,
    planning, performance management, and more) to assist the organization in
    establishing and implementing its strategy. Management accounting provides
    financial research to assist strategic decision making, although the focus is on
    providing some confidence that the strategic decision has the potential to be
    successful, with strategic factors often given greater weight.

    “The purpose of our lives is to be happy.” — Dalai Lama.

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