Book Title: Innovative Approaches in Multidisciplinary Research and Development (IAMRD)
Chief Editors: Dr. Anil Kashinath Salunke and Dr. Rituraj Pant
Associate Editors: Prof. (Dr.) Sourav Madhur Dey and Dr. Amrutha Satheesan
Co-Editors: Dr. Souvik Sur and Dr. Phakir Singh
ISBN: 978-93-7183-004-1
Chapter: 18
DOI: https://doi.org/10.59646/708/18
Authors: Miss. Vishakha Patel, and Dr. Rajesh Kumar Pandey
Abstract
Strategic planning is the art of creating specific business strategies, implementing and controlling the results. The aim of strategic planning is to support the Organisation to operate its businesses in a way that would keep the Organisational environment financially & operationally healthy. Strategic planning is concerned with development of organizational Intent in the form of the Vision, Mission & Objectives and determines the necessary actions to realize this stated Intent. Strategic Planning is a guiding force for the Organisations at large. Strategic planning has been observed as a medium of huge control on Business Success. The Business success may get defined differently by different Organisations & Industries. Right from profits to E-Sat, all may fall in the ambit of Business success.
The current study is an exploratory & descriptive study conducted with the help of Primary & Secondary data. 10 companies from the region of DNH & Daman contributed to the data collection. The sample was selected through Convenience sampling technique. The study aims to understand the essence & significance of Strategic Planning at Organisations. It further aims to study the role of Strategic planning towards achieving business success with special reference to Manufacturing sector in the region of Dadra & Nagar Haveli and Daman. The Researchers have recommended a self developed model pertaining to Strategic Planning leading to Business Success with special reference to Manufacturing sector. The study encompasses the domain of Strategic Planning elements & Business success indicators. The responses are selected few companies which may be the limitation as the inferences will be more indicative in nature.
Key Words: Planning, Business Success, Manufacturing Sector, Strategy