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Benchmark-Strategic Plan and process

Benchmark-Strategic Plan and process. Gaining the knowledge of a firm’s relative position in key qualitative processes should be an essential objective of the strategic planning process. This article shows how the managerial technique of benchmarking can be used to go beyond traditional quantitative analysis and penetrate underlying qualitative processes. Benchmarking is used to assess the quality of four key strategic planning design parameters (formality, participation, sophistication and thoroughness) among 63 hotel units representing eight UK hotel groups. Results indicate that there is a significant gap between the quality of current planning processes with theoretical best practice.

Strategic planning is a continuous process that requiresconstant feedback about how the current strategies areworking. The market tells the private sector how it is doing.Profit levels, return on investments, and sales trends letbusinesses know when they need to adjust their strategies.Performance measurement provides the public sector withcomparable information.Strategic planning looks ahead toward desired goals;performance measurement looks back at achievements.Combined, strategic planning and performance measure-ment form a circle—a continuous process of governing-for-results (figure 1).The strategic plan defines the performance to be meas-ured, while performance measurement provides the feed-back that keeps the strategic plan on target.

Benchmark-Strategic Plan and process

Create a video presentation of yourself presenting your strategic plan. The presentation needs to include the information contained in your written plan and should be between 5-10 minutes in length.
Identify the “decision maker” and tailor your presentation to the audience.
Reflect on how to encourage the “decision maker” to follow this plan.
Tailor your presentation so that it will accomplish what you need it to do for the decision maker.
Within your presentation, address all of the questions that three of your peers posed regarding the relevance and feasibility of your plan. (There should be a total of nine questions that you will answer from your peers.) Be sure to justify the answers to your peers’ questions with data. Cite your sources.
Effectively use technology to clearly convey your strategic plan so that it appeals to your intended audience.

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Approximately 250 words

Total price (USD) $: 10.99