Example of elements of a strategic plan Business plan, for example aimed at: Market penetration: Bringing products on new market; Market development: Growth of new product on existing market; Product development or diversification: new product on new market.
Those responsible for the planning process are engaged in a process of surfacing the really important strategic issues. The plans identify stakeholders, describe their interests and relationships and contain a range of culturally appropriate engagement activities to encourage open communication.
Structure of the strategic choice space There are five main sets of procedures in the approach to strategic planning followed here at simpley-strategic-planning.
Expectations and influence of stakeholders A stakeholder can be defined as someone who has an interest in the well-being of the organisation.
In terms of decision processes within this set of activities there are three key components of the strategic planning process which generate the space in which sound strategic choice may be made.
This will help determine the strength and weaknesses of your own organization. Based on high quality of differentiated products, well-known brand and excellent mining staff, BHP billion keep the position as one of the largest natural resource companies and a leader of mining industry.
This strategic action can also help the differentiation approach strategy as BHP Billiton will not depend on others to deliver their commodities and on-time delivery will increase service quality. Cost leadership, diversification and mixed strategies are therefore considered as strategic options.
Economies of scale enable highly effective supply chain management systems and provide sufficient liquidity for the longer term returns of exploratory mining.