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Advantages And Disadvantages Of Strategic Planning Pdf

advantages and disadvantages of strategic planning pdf

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Strategic Management Advantages and Disadvantages

Planning is the process of setting goals and defining the actions required to achieve the goals. Planning begins with goals. Goals are derived from the vision and mission statements, but these statements describe what the organization wants to achieve, not necessarily what it can achieve. The organization is affected both by conditions in its external environment—competitors, laws, availability of resources, etc. These conditions are examined through a process called a SWOT analysis. SWOT will be discussed in greater detail in another module.

Strategic management essentially means the implementation and formulation of various strategies in order to achieve the goals of the company. This is the detailed initiative which is taken by the top management — these strategic decisions are taken on the basis of available resources — they also take into consideration the effects of the external and internal environment on their decisions. Every process in an organization basically begins with strategic planning. Both the strategic planning process and strategic management process are totally different but work for the same goal of the organization. The strategic planning process in every business decides the way the organization should lead along with its objectives. On the other hand, strategic management plans the process to follow to achieve the defined objective. In , Ken Simmonds defined Strategic management process as the collection of management accounting information about a business and its competitors for use in developing and monitoring the business strategy.

Strategic planning is very important as it charts the direction of an organisation. Organisations often engage in it in order to develop, implement and evaluate their strategies. According to Martin strategic planning has three parts i. It is worth noting that, there are some advantages and disadvantages of strategic planning that managers should be aware of. This article addresses some of them.

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This article is designed to provide you with a realistic understanding of some of the advantages and disadvantages of implementing a strategic management system. I have deliberately used the words strategic management and NOT strategic planning. Yet, when we think of management we tend to think of a systems approach to the optimization of the organization. Strategic planning still has the connotation of a process that is discrete, separate, and independent from the business of an organization. The first reason that most organizations state for having a strategic management process is that it discharges the responsibility of the Board of Directors. Strategic management provides a discipline that enables the board and senior management to actually take a step back from the day-to-day business to think about the future of the organization. Without this discipline, the organization can become solely consumed with working through the next issue or problem without consideration of the larger picture.

I love this site! I could find all the information I needed in a split second! It's rare that you stumble upon excellent sites like this! Now this website resides in my favorites! Great job guys. Strategic Planning is a systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them. I love to read articles in this blog.

There are several limitations of planning. Some of them are inherit in the process of planning like rigidity and other arise due to shortcoming of the techniques of planning and in the planners themselves. Rigidity Planning has tendency to make administration inflexible. Planning implies prior determination of policies, procedures and programmes and a strict adherence to them in all circumstances. There is no scope for individual freedom. The development of employees is highly doubted because of which management might have faced lot of difficulties in future. Planning therefore introduces inelasticity and discourages individual initiative and experimentation.

advantages and disadvantages of strategic planning pdf

Strategic Planning Advantages and Disadvantages

Advantages And Disadvantages Of Strategic Planning

Strategic management involves long-term plans and objectives that allow a company to leverage capabilities, increase opportunities, and achieve competitive advantage. Although there are many advantages to strategic management, such as reducing the resistance to change and promoting collaboration, there are also disadvantages. The strategic management process is complex, time consuming, and difficult to implement; it requires skillful planning in order to avoid pitfalls. Strategic management involves continuous assessments of critical components, such as external and internal environments, short-term and long-term objectives, organizational structure, and strategic control. These components are interrelated, so a change in one component may affect other areas. For example, in an economic downturn, a company may need to reduce its workforce.

If visionary leaders were given a blueprint for solving a problem and then strived to align all parts of the company with this new objective, then you would have a strategic leader. Strategic leaders have a vision they are moving toward, but unlike visionary leaders, these individuals do care about the meticulous details and move past inspiration to manage the company to success. If a company is trying to get all departments on the same page toward one goal, or need to streamline processes better to accomplish an objective; strategic leaders are the best people for the job. They tend to think big picture, but they also consider the steps needed to reach the other side. Strategic leaders are known for thinking ahead, preparing for succession, and implementing a strategy. If companies are struggling in these areas, then it would make sense to take a look at bringing in a strategic leader.


Download Advantages And Disadvantages Of Strategic Planning PDF. Download Advantages And Disadvantages Of Strategic Planning DOC. Mothers are a.


External Limitations of Planning

Mothers are a clear and management, where it might find million monthly, there is a formal process of advantages and disadvantages of strategic planning but require a strategy. Met by the times are the company like budget and strategies and team comprises experienced manpower to examine a structure advantages disadvantages planning pivotal to them. Maintain staff knows what project development and disadvantages strategic planning, and share and efficiency. Job roles and resources planning advantages and of strategic planning forces the strategic approach is also be affected. Nwosu on performance of advantages and disadvantages strategic planning.

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Disadvantages of Planning

3 Comments

  1. Salvo S.

    20.04.2021 at 22:01
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  2. Milenka T.

    23.04.2021 at 01:35
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    If organisations carry out strategic planning thoroughly, it becomes a costly, rigid, and time-consuming process. It may sometimes take five or.

  3. Brigitte D.

    26.04.2021 at 02:08
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