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SUCCESSFUL STRATEGIC PLANNING - Research Paper Example

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A successful strategic plan is a workable plan that not only clarifies the vision of an organization but also determines how to achieve the vision. A strategic plan is…
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SUCCESSFUL STRATEGIC PLANNING
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SUCCESSFUL STRATEGIC PLANNING

With all this talk about a successful strategic plan as a mast to sail through the tempest, several seed organizations are quizzed with what exactly is a successful strategic plan. How should one implement it and how can an organization gauge its effectiveness? This article has been an attempt to shed light on some of the nuances of a successful strategic plan.
In the current economic turmoil many organizations have claimed that survival in their respective industry was mainly due to a strong, long-term and usable strategic plan. Organizations that failed to follow their strategic plan or did not have a workable plan in the first place, are facing extinction.
With all this talk about a successful strategic plan as a mast to sail through the tempest, several seed organizations are quizzed with what exactly is a successful strategic plan. How should one implement it and how can an organization gauge its effectiveness?
A strategic plan is the roadmap of an organization. It tells an organization who it is, what does it aspire to be, how to get there and how to continue to grow. A strategic plan at its core clearly defines how an organization will achieve its vision. This is in striking contrast to a long-range plan which primarily focuses on determining an organization’s vision (McKay, 2001).
Before writing a strategic plan, an organization must determine why it needs a strategic plan. Is the plan required for governance, for a new program development or as an instructional guide to provide a common vision and focus, with agreed-upon goals and strategies? Having clearly defined the need for a strategic plan, the organization then moves to developing a strategic plan.
Conduct an environmental scan: This process is usually termed as the SWOT analysis. SWOT stands for Strength, Weakness, Opportunity and Threat. A SWOT analysis is crucial to gauge how an organization relates to the external ... Read More
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