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Strategic Planning Characteristics, Research Paper Example

Pages: 1

Words: 320

Research Paper

Strategic Planning in organizations deals with systematic processes which facilitates building of commitments amongst the stakeholders in order to set essential priorities as indicated in the mission of the organization. It is presented to the board of directors or investors as a guide to resources allocation, guiding the future and managing potential change so that the organization can comfortably achieve its priorities (Chester, 2006).

The strategy of any organization is a manifestation of the answers held by the management to the fundamental questions of business. The most important concerns of the organization strategies are business growth, achieving a competitive advantage, adaptation to the dynamic market situations, management of all functional business units, achievement of financial as well as strategic objectives and developing full capabilities of the organization (Iverson, 2008).

When presenting the strategic plan to the relevant group, some key aspects are worth consideration and they include the following:

  • The potentials of the strategic plan towards improving the focus of the organization among the existing participants.
  • Its ability to uphold collaboration in the organization
  • Its potential to foster accountability of participants
  • The level to which strategies are translated to projects, programs as well as products
  • The competence of definition of the success and the failure of the organization (Iverson, 2008).

In presentation of a strategic plan to the relevant authority, there are some areas that need to be emphasized on. Most important are the appropriate metrics that facilitate scoring of successes, and in some cases, failures. The analysis of industry environment also needs significant emphasis (Chester, 2006). The implementation of strategy along with its execution is also an important consideration. The articulation of the strategic planning with respect to the intended accomplishment and the desired destination is an important aspect requiring consideration.

 

References

Chester, T., (2006). “A Roadmap for IT Leadership and the Next Ten Years”. EDUCAUSE Quarterly, 29 (2), 56-60.

Iverson, S., (2008). “Now Is the Time for Change: Reframing Diversity Planning at Land-Grant Universities.” Journal of Extension 46, No. 1.

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