Question

What is strategic planning? Is strategic planning an effective or ineffective tool for

organizations? What are the specific elements that make for an effective strategic planning

process in organizations?

Answer 1

Strategic planning can be said as a process of establishing a direction for the business.Strategic planning can be said an organizational process that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals.It can be said as blueprint for long term planning of an organization for that is intended around the outcomes that an organization wants to achieve.

Strategic planning is an effictive tool for an organization.An effective startegic planning brings vision and execution togehter. An effective strategic planning identify potential pitfalls and include strong mitigations against them.Strategic planning, therefore, matters for its effect on organizational values, rituals, and ability to move the organization in new directions.Strategic planning includes elements such as analysis of the organization's directives, mission, and values; analysis of the organization's internal as well as the external environment; and identification of strategic issues based on these analyses and the formulation of strategies, goals, and plans to address the issues hence from this we can say how crucial is strategic planning for an organization.

Elements Of Effective Strategic Planning are:

a)Define your vision.- It shows what an organization wants to achieve.

b)Create your mission-Mission implies why the company or business exists.

c)Set your objectives- goals or results an organization wants to achieve.

d)Develop your strategy-It is said as long term plan in order to achieve the set goals.

e)Outline your approach-This is said as methodology for executing long term plan

f)Get down to tactics-These are said to be smaller,focused action plan supoort overall strategy and approach.

These elements can be said as the groundwork for the success of any organization.Strategic plan based on these elements or metrics will help to measure overall health of an organization.