Academically, all types of coursework are designed to help students attain certain learning objectives. Most of them are achieved by taking lecture notes. Still, to gain mastery over certain subject-specific concepts and theories, one needs to get full command of some other tasks. Assignments, teacher’s lectures, and even curricular activities collectively help students acquire all skills necessary to learn technical coursework.
Strategic planning, by definition, is simply a process that helps business leaders or entrepreneurs set their business goals or define the path to achieve them. Later on, this plan is shared with all the administrative staff so they can implement it to turn their vision into reality. Organisational growth, decisions, and goals are three main parts of the strategic planning coursework. To effectively handle strategic planning coursework, one must follow an expert guide, and this article aims to provide you with a simple 5 stepped strategic planning coursework guide.
A Brief Introduction of Strategic Planning With Example:
Strategic Planning is usually used to define a business’s mid and long-term goals. Mostly, businesses never make more than three to five plans; however, in only a few particular cases, they make even 10 years of business plans. Whatever your business goals are, the strategic planning steps usually remain more and less similar and require a team to execute the plan. However, annual or quarterly reviews or revisions are also made to change the goals with time. For example, the task in the strategic planning coursework may include making a plan or suggesting an automobile industry ways to increase the customer satisfaction rate from 80% to 85%.
The five-step guide to strategic planning:
Mostly, large businesses have a strategic planning team comprised of business or market research experts and defining strategies for achieving business goals is one of the key responsibilities of this team. But if you are writing strategic planning coursework as a student, you must follow a simple step-by-step guide that is extremely helpful to play the role of the strategic planning team of experts. Additionally, this guide is useful for you only if you have time to spend on each step separately. If you are running out of time, you must seek British coursework help online as soon as possible. Let’s briefly discuss the five simple steps of strategic planning coursework in the upcoming section.
Know your current position:
As per the purpose of strategic planning, this activity must be to take your business to the next level. Moreover, to define your peak, you must first know where you stand right now. So the first step in strategic planning is also to determine your current position. If you are a student, you must first decide on the business or the organisation and then determine the current status of the selected firm. Collecting relevant industry market data, seeking customer demand and suggestions, and conducting a SWOT analysis are all ways to know about the current financial status and market reputation.
Set goals for the future:
If you are a business owner, keeping your eyes on your competitors is one of the wisest acts. It is also a tip that helps you define know to get inspiration from someone. Pinning your target audience is one of the most vital steps in planning as it answers one important question: What will be your next point? It will help you select the right path to reach the target.
At this step, setting your inspiration is foremost important as it will ensure whether your company will get the maximum growth at your decided goals or whether you need to focus on something else to maximise your business revenue.
Search for some easiest ways to achieve the goals:
In this third step, you will be aware of your current position as well as your dream destination; thus, the only task to do here is to select the simplest route to travel in the right direction. Remember, there will be many paths, but not every path will lead you towards your destination. Hence, your duty must be to find the one path or plan a strategy that can help you achieve your goals shortly. Even if the goals are long-term, you still need to divide them into small achievable tasks. Later on, this fail-proof plan will act as a blueprint to ensure the growth of your selected business.
Execute the plan:
Try to make a smart plan by focusing on five different qualities determining the success of a project. Smart stands for specific, measurable, attainable, realistic, and timely. If your plan has all these qualities, then executing it in the local setup will not be as difficult. In strategic planning coursework, you need to explain the expected results of the plan you make to take the company to a certain level. Moreover, with the increase in the worth of your literary work, every suggestion related to policy development and plan execution must be supported by scholarly evidence.
Do amendments where required:
The last step in the strategic planning process helps you amend any point or postulate that meets your expectations. The business plans are usually reviewed or revised quarterly, and tracking your progress using balanced scorecards also helps you find the gaps in your strategic plans. Moreover, on an annual basis, it is necessary to keep focusing on your ever-changing goals and market trends to ensure that you are on the right track or not.
To complete the strategic planning coursework, you must first understand your responsibilities as a strategic planner. Once you start writing the coursework by understanding what a professional business strategic planner’s key responsibilities are, then the quality standards of your writing will start increasing many folds. Contrary to this, you can also improve your writing by taking the tutor’s regular feedback or a lesson from your previous experiences.