![]() |
Strategic Planning Information |
|
|
Benefiting from Strategic Thinking
I recently took an organizational behavior class where my professor conducted a strategic thinking exercise in which groups of students were to be a part of a scholarship committee. The purpose of our committee was to use strategic thinking on allocating a scholarship budget to reward several incoming freshmen to our university. I, along with some classmates represented freshmen candidates who would receive the scholarship. These candidates all had different strengths that would live up to the standards and reputation of the university. For example, my candidate was a high school senior who would not be able to attend college without a scholarship. Her strength was found through music and should she receive a scholarship to the university, she would contribute to the school's music program. Another candidate was a gifted athlete who would be an asset to the school's basketball team. A third candidate was an intellect who would thrive in the academic realm. Moreover, my argument on why my candidate deserved the scholarship was among competing arguments from classmates who wanted the same for their candidates. We had a few options to consider:
After hearing each representative make their case about the needs of their candidate, a few classmates pulled out of the debate because they felt their student did not need the money as much as others. One classmate stated that his student came from a financially stable household and that the lack of funds would not keep him from going to college. Another classmate mentioned that her student had the time to get a part-time job and would be okay without scholarship money. With strategic thinking among the committee members, we were able to figure out how everyone would benefit from the situation. Our committee's final consensus left two students without scholarship money, but benefited three recipients with a part of the scholarship money, based on their needs and accomplishments. Strategic thinking involved a group effort of brainstorming ideas, initiating change, and finding solutions to our dilemma. With our strategic thinking process, we were able to effectively factor in the highest priorities of our candidates. Stephanie Tuia specializes in internet marketing for CMOE. If you would like to learn more about CMOE's Applied Strategic Thinking Workshop, contact one of their Regional Managers at (801) 569-3444.
MORE RESOURCES:
Strategic-Planning - Google News |
RELATED ARTICLES
Why 9 in 10 Businesses are Overspending on Day-to-day Expenses Experts estimate that 90 percent of Australian businesses are overspending on day-to-day expenses, by as much as 75 percent in some cost categories!Looked at the operating costs of your business lately? You might be surprised at the savings that can be gained with a systematic approach to cutting costs.The easiest way to lift profits is to cut the fat out of costs. Don't Just Talk About the Weather, Use It to Advantage A well known, national chain of restaurants discovered that certain weather patterns substantially impacts their business. They have studied it and found that more people go out to eat dinner when there is a series of beautiful days. Corporate Venturing For Emerging Growth Companies The boom of the dot-com era in 1999 brought the emergence of corporate venture capital as a major source of funding to the private equity markets. Corporate venture investments peaked in the third quarter of 2000 with 608 deals totaling a combined $4. Planning For The Slow Season Of Your Business To Increase Sales Every business experiences slower periods. For some, they sell more during the Christmas season while others move at a snail pace. Creating a Vision That Achieves Results How important is a vision statement to your company or division? Well, have you ever thought about embarking on a journey without knowing where you are going? The same can be said about running a company, without a vision statement you are going places but who knows if it is in the right direction or even if you want to go there.A vision statement should paint a picture of what you want your business or division to look like in the future. Sales Planning and Business Plans Writing a business plan can be tricky when all the books on the subject fail to keep updating their editions. One significant factor is the sales planning in business plans, yet few books show examples of how to explain online sales which will contribute to your over all stores sales in your retail outlet. Under Construction During the Storm - A Hurricane Guide for Businesses that are Under Construction As a business owner, you've likely created a hurricane plan for your business and your family, but did you overlook your construction project? Don't worry, you're not alone. Most people don't even think about preparing their construction site because it's not written into their "construction timeline. Restaurant Startup - Part 1: Market Research - What are Potential Competitors Doing? The first step in starting a restaurant is proper planning. One must lay out a plan complete with goals, priorities, and the tasks that he will need to complete in order to achieve these goals. What is Your MSP? For many consumers and producers, MSP is an acronym for Manufacturer's Suggested Price. Today, I would like you to consider a different definition for these commonly used letters -Marketing, Sales and Profitability. What is a Shared Vision? So what makes a vision successful? Everyday companies try to create a vision that will lead them into the future but seldom does that vision ever impact the organization. The reason for this is that the vision is created by a few and never becomes a 'shared vision' of the entire organization. Mobile Franchise Business Expansion Strategy If you own a mobile franchise business and wish to expand you will need to have a strategy that involves your franchisor. Additionally if you are a franchisor it is important to have some sort of policy in place in advance so that there are no hurt feelings as franchisees expand. Six Key Principles of Corporate Accountability The foundation of any business transaction is the promise of fair deal. In complex organizational relationships, it is all too easy to lose sight of the existence and terms of this deal. Insurance Requirements in Franchised Companies Franchised companies often require what some believe to be excessive insurance requirements. This is because so often if a franchise is sued for any reason that the Lawyers go after the big money of the franchisors and name them in the lawsuit. Becoming Wise - Wild & Free - Writing A Successful Business Plan - Part 2 - Do It In Steps So you've decided to write your own business plan because you know the value that the experience will give you. With the books and software that are out there today you can probably sit down and complete the plan in a day or so, right? Plug in the numbers, add the notes, write the whole narrative (story), print it and get it out to the banks or investors. Action Planning ACTION PLANNING: Action Planning is a process to develop strategies for changes in the organization based on an analysis of the problems which precipitate the need for change. It is a collaborative method of planning which involves the people working in the organization and permits the people who will be influenced by the decisions and change to have influence on the product or outcome. Top Ten Reasons To Create A One Page Business Plan There is a story, about a business owner who wasn't doing very well. She had no business plan, but had heard, quite a bit, how creating one would help. Top Ten Traits of Strategic Thinkers Want to become more strategic? Add these traits to your collection of skills and watch your success soar!1. Maintain a self-responsible attitude. Parking Business, the Details on Increasing Lot Revenue If you are in the parking business and own or manage parking lots you may want to think on some additional concepts to increase lot revenues. Whether you are looking to add value for your customers, expand your customer base, or simply increase your revenue, the addition of a car wash and/or detailing service to your parking facility may be the answer. How to Write a Business Plan in Five Steps People often ask "What makes a good business plan? Or, "How do I make my plan attractive to lenders and investors?".The simple answer is that lenders and investors (I'll call them "readers" from here on out) are looking for "good deals". The Best Entity to Hold Real Estate Possibly THE most frequently asked question of me is "What is the best business entity to use for real-estate investments?" My recommendation to most people is that a limited liability company (an "LLC") is the best entity for this type of use. Here's why:-- Excellent liability protection for managers and members-- Flow-through tax treatment on LLC profits and losses-- Ability to transfer properties in and out of an LLC with minimal tax consequences-- Personal Asset Protection through the Charging Order procedure (for Nevada LLCs)Liability Protection. |
| home | site map |
| © 2006 |