Final Answer:
1) Establish the objective. Establishing the objective is the first step in the strategic planning model, providing a clear direction for the organization. This process involves defining specific, measurable goals that guide subsequent strategy development and policy implementation.
Step-by-step explanation:
In the strategic planning model, the first step is to establish the objective. This sets the foundation for the entire planning process. Objectives are the desired outcomes that an organization aims to achieve, providing a clear direction for decision-making and resource allocation. Without a well-defined objective, determining strategies and implementing policies becomes challenging as there is no overarching goal to guide these actions.
To elaborate, establishing the objective involves identifying specific, measurable, achievable, relevant, and time-bound (SMART) goals. These goals serve as a roadmap for the organization, ensuring that efforts are focused on what truly matters. For example, if a company aims to increase market share by 15% within the next two years, this becomes the overarching objective. Subsequently, strategies can be developed to achieve this specific goal, such as entering new markets, launching innovative products, or enhancing marketing efforts.
Moreover, the establishment of objectives facilitates alignment throughout the organization. Every department and individual can then align their efforts with the overarching goal, fostering a unified and coordinated approach. This initial step in the strategic planning model is crucial for success, as it provides clarity, direction, and a measurable target to strive for.