Strategic Plan
STRATEGIC PLAN
Why Strategic Planning is Important
Strategic Planning – Why should an Organization consider it? After all a Strategic Plan can be formal Eg., In a small Organization the owner / CEO develops a Plan in his mind and communicates it to all the employees in a clear manner, where the employees know the Goals and Approach to achieve them which could be considered an Informal Plan could be successful at times. Nevertheless as an Organization grows a need for a systematic Strategic Plan and approach for development arises. “Great enterprise is the stuff of dreams and hard work, yet success takes something more. Great results do not happen by accident. Instead, successful companies use detailed and flexible plans to plot their course and direction.”
Quote from “Simplified Strategic Planning: A No Nonsense Guide for Business People who wants Results Fast by Robert W Braford and J Peter Duncan
In the current century, Businesses face a highly competitive environment, in such environment basic planning or budget oriented planning or forecast based planning methods are insufficient for a Corporate Organization or even a small entity to survive. In this instance the Organization should engage in formulating a STRATEGIC PLAN that will clearly define the Objective and assesses both the Internal and External situations and implement the strategy and evaluate the progress, and accordingly make adjustments to stay on track of the Core Business
The Production of a Strategic Plan for an Organization
Organizations when evaluating their performance or the Business prospect of the company the Management should look into to the following three important factors 1. What’s the company’s present situation? 2. Where does the company need to go from here? 3. How should it get there? What’s the company’s present situation? should prompt the Management to evaluate the condition and competitiveness of the industry, the company’s current market sanding, its resource,
Why Strategic Planning is Important
Strategic Planning – Why should an Organization consider it? After all a Strategic Plan can be formal Eg., In a small Organization the owner / CEO develops a Plan in his mind and communicates it to all the employees in a clear manner, where the employees know the Goals and Approach to achieve them which could be considered an Informal Plan could be successful at times. Nevertheless as an Organization grows a need for a systematic Strategic Plan and approach for development arises. “Great enterprise is the stuff of dreams and hard work, yet success takes something more. Great results do not happen by accident. Instead, successful companies use detailed and flexible plans to plot their course and direction.”
Quote from “Simplified Strategic Planning: A No Nonsense Guide for Business People who wants Results Fast by Robert W Braford and J Peter Duncan
In the current century, Businesses face a highly competitive environment, in such environment basic planning or budget oriented planning or forecast based planning methods are insufficient for a Corporate Organization or even a small entity to survive. In this instance the Organization should engage in formulating a STRATEGIC PLAN that will clearly define the Objective and assesses both the Internal and External situations and implement the strategy and evaluate the progress, and accordingly make adjustments to stay on track of the Core Business
The Production of a Strategic Plan for an Organization
Organizations when evaluating their performance or the Business prospect of the company the Management should look into to the following three important factors 1. What’s the company’s present situation? 2. Where does the company need to go from here? 3. How should it get there? What’s the company’s present situation? should prompt the Management to evaluate the condition and competitiveness of the industry, the company’s current market sanding, its resource,