Question: What Is Strategic Planning Gap?

What is the final step in the planning phase of the strategic marketing process?

three steps in the planning phase of the strategic marketing process: (1) situation (SWOT) analysis, (2) market-product focus and goal setting, and (3) the marketing program..

What are intensive growth strategies?

Intensive growth strategy is a strategy dealing with current and new product market the main objectives of this strategy are how to penetrate the market rents as well as find ways to develop product commensurate with market development and market development.

Why is strategic planning attractive?

Strategic planning is important because it influences the attractiveness of the business to investors. … The attractiveness of the business to potential investors means the ability of the organization to access financial resources that it could use for its continued growth and development.

What is an example of strategic planning?

Objectives include baseline performance, targeted performance, and an established date for achieving the objective. Any example of a strategic plan must include objectives, as they are the foundation for planning. In this example, our objective is to increase client satisfaction from 82% to 90% by December 31st.

What are the types of strategic planning?

Strategic Planning Types that Create the Best ResultsTransactional.Forecasted transformational.Revolutionary transformational.

What is a planning gap?

The planning gap is a concept that is used to clarify the extent of revenue or profits gap that might emerge if current strategies are left unchanged. … Thus, comparing forecast profits to desired profits reveals the planning gap. This represents a goal for new activities in general, and new products in particular.

What do we mean by strategic planning?

Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization’s …

What does gap to goal mean?

Gap analysis is the process that involves comparing your current performance or progress with what you expected to achieve.

What is Gap Analysis example?

A strategic gap analysis looks at company’s strategy and is closely tied to benchmarking (comparing yourself to competitors or best practices). An example of a strategic gap analysis is a handyman service that wants to grow into becoming a larger contractor.

Why is it important to do a gap analysis?

Conducting a gap analysis can help you improve your business efficiency, your product, and your profitability by allowing you to pinpoint “gaps” present in your company. Once it’s complete, you’ll be able to better focus your resources and energy on those identified areas in order to improve them.

How do you fill the strategic planning gap?

How can a Company Fill the Strategic Planning Gap? Strategic planning gap can be minimized by exploiting one of the three growth opportunities; Intensive Growth Opportunities: Identifying opportunities to achieve further growth within the companies current businesses.

What do you mean by strategic gap analysis?

Strategic gap analysis is a business management technique that requires an evaluation of the difference between a business endeavor’s best possible outcome and the actual outcome. … Strategic gap analysis aims to determine what specific steps a company can take to achieve a particular goal.