ECONOMICS

Detailed explanation-1: -The situation analysis is the first step in strategic planning. It involves the gathering of information, both internally and externally, to provide insights into issues related to a business’s employees, customers, competitors and industry.

Detailed explanation-2: -Setting objectives is the primary step in planning. Objectives or goals specify what the organisation wants to achieve.

Detailed explanation-3: -Step 1: Environmental Scan The first step of any strategic planning process starts with research. Agency Alpha conducts an environmental scan, a process where they identify and monitor factors that may impact the long-term direction of the agency.

Detailed explanation-4: -1. Perform an environmental analysis of current strategies. Starting from the beginning, a company needs to complete an environmental analysis of its current strategies. Internal environment considerations include issues such as operational inefficiencies, employee morale, and constraints from financial issues.

Detailed explanation-5: -Define objectives The first, and most crucial, step in the planning process is to determine what is to be accomplished during the planning period. The vision and mission statements provide long-term, broad guidance on where the organization is going and how it will get there.