Strategic Plan Stakeholders - Essay Example

Strategic Plan for Stakeholders Organizations must pursue the benefits presented by strategic planning due to the vital resolutions embedded therein towards the achievement of their objectives. Despite many institutions engaging in traditional approaches, arguments are that the management should embrace modern strategic approaches, as these would bridge the gap between the internal and the external environments of the business. Presumably, the essence of an organization’s existence in each industry is the competitive production of goods or services to meet a target market satisfactorily (King, Bonds-Raacke, & Saylor, 2010).

The reasons underlying the development of a document on strategic planning is for the organization to eradicate ill politics emanating from the stakeholders. This may result whenever a certain group within or outside the business perceives biasness. A planning document entails the organization’s objectives and goals. Further, it describes to the stakeholders the essential approaches that business entity targets to implement to accrue the long term plans. Through the implementation of a planning document, the organization gains the ability to pursue its goals since every stakeholder will be knowledgeable of the perceived outcomes thus devoting his support to the planning process (p. 2). Reasonably, the development sets a pace for the organization to meet all its stakeholder needs.

Organizations devote their strategic development plans towards achieving beneficial outcomes. Therefore, the documented approach will serve to the effect of ensuring efficiency in delegation of tasks, team-building, and a unified focus towards the set goals and objectives. The document acquaints an organization with a prospectus for scanning the environment. This influences a positive approach towards development of the organization’s mission. Arguably, the documented approach describes the organization’s vision (p. 3). Lastly, it is an essential resolution to a democratic process of inserting decisions harvested from the organization’s internal and external stakeholders.

ReferencesKing, B., Bonds-Raacke, J., & Saylor, C. (2010). Do It But Don’t Do It Alone: The Importance Of, And Resources For, Successful Strategic Planning. Pdf.