Question

Pages 84-85 of the book list the keys to success for the implementation stage of strategic planning. Pick five(5) of these questions to explain in your own word. Why are they important? What happens if they're ignored?

Below are the questions:

1. A well-defined strategic planning process.

2. Clear and visible executive support, sponsorship, and involvement.

3. An empowered strategic planning team.

4. Involvement of all levels of the organization (inclusive not exclusive approach).

5. Thorough analysis of internal and external competitive data (while some information is the same at the top level of strategic planning, additional data are required as you go though the varying levels of an organization, particularly when it comes to organizational strengths and weaknesses).

6. Clear priorities and a strategic plan with both strategic and tactical objectives.

7. Implementation plan (spelling out the cost, duration, priority order, and accountability for each strategy and tactic). This phase of strategic planning is part of the tactical playbook for day-to-day activities telling employees the priorities and presenting the logic for actions they need to take in their daily work.

8. Review, reevaluation, and revision of the strategic plan, yearly at a minimum, quarterly more optimally, and even more often in fast-moving environments.

9. An organizational understanding of how to do strategic planning with the adjacent under- standing of the need for strategic planning.

10. A commitment to change.

Answer 1

1) A well defined strategic planning process: In every organisation it is important to have a well defined strategic planning process. A well defined strategic plan is the process of continous planning and analyzing the necessary actions needed for the organisation to help achieve its goals and objectives. If there is no planning process implemented the workforce would not be aware of how to achieve the goals and objectives of the organisation leading to creation of confusion among the employees. With a well define plan there is a direction for everybody in the organisation to obtain maximum results

2) Involvement of all levels of the organization : In all business process it is necessary that all the levels of the people are involved to draft and implement the organisation policies and practices. With only the involvement of top level management who may not have much understanding of the work done at lower end, this would create higher standards which may not be achieved. It is necessary that the suggestions should be taken from all levels of the organisation so people are motivated and also the overall task of the organisation is achieved easily by considering the ground level issues.

3)Thorough analysis of internal and external competitive data (while some information is the same at the top level of strategic planning, additional data are required as you go though the varying levels of an organization, particularly when it comes to organizational strengths and weaknesses): Every organisation should undertake SWOT analysis that is analysing its strength, weakness, opportunities available outside and threats from external factors. There should be thorough analysis of internal and external competitive data which might impact the companies growth. The company needs to understand the process issue it faces internally and implement steps to rectify these errors, also the company should have sufficient knowledge of its competitors, the steps and strategic followed by the competitors which might reduce the growth prospects of the company. Also company should constantly make the outside data available to identify the opportunities and threats available in the market.

4)Review, reevaluation, and revision of the strategic plan, yearly at a minimum, quarterly more optimally, and even more often in fast-moving environments: Only drafting of strategic plan would not help any organisation, it is important for each and every organisation to make sure that it is implemented by all the levels of the organisation by reviewing and revaluating the plan and if necessary making revision in the plan. The organisation should undertake this activity frequently in fast-moving environments. Reviewing the plan will help the company to identify any defects in the flow of the plan and if necessary the company can make changes to the plan at an early stage instead of reviewing after few years which would impact the companies growth.

5) A commitment to change.: Every organisation should have commitment to change with the fast changing world. Every strategic plan should be flexible to any changes in the internal and external environment to meet the customers demand. Organisation should not resist change, they should accept the changes openly as this would help them to grow else the opportunities might be used by its competitors.