Importance of Strategic Planning - PowerPoint PPT Presentation

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Importance of Strategic Planning

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Strategic planning is a process in an organizational culture in which a strategy is defined or a direction is set and then business decisions are taken for allocation of the business resources and assets in order to pursue the defined strategy. Strategic Planning comprises of two words, i.e. Strategy and planning. – PowerPoint PPT presentation

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Title: Importance of Strategic Planning


1
Importance of Strategic Planning
  • Strategic planning is a process in an
    organizational culture in which a strategy is
    defined or a direction is set and then business
    decisions are taken for allocation of the
    business resources and assets in order to pursue
    the defined strategy. Strategic Planning
    comprises of two words, i.e. strategy and
    planning. 

2
Systematic Proven Business Tool
Strategic Planning is a traditional means used
over a long span of time by the business leaders
and managers to create milestones and give
business new heights. This is a very systematic
organizational blueprint consisting of
step-by-step activities to be undertaken by the
team to achieve their long term business goals. 
3
Missing Opportunities
  • With the help of a finely created business
    strategy plan, one can take an advantage of one
    of the premium opportunities arising all of a
    sudden or in the near future out of external
    environmental factors.

4
Focus on problem solving
  • With strategic planning process one takes into
    account a long term view of the business
    operations and its model. There can be some
    consistent minor problems that prevent the
    business from achieving its highest efficiency
    and thereby stopping from maximizing the
    organizational success which can be solved by
    strategic planning process

5
Enables creating a fine and clear strategy
  • Clear strategic plans not only benefit the
    business or its shareholders, but the
    stakeholders at large. With a clear business
    strategy the employees and managers get a clear
    idea about their roles, targets and performances. 

6
Proactive business tool
  • With a systematic and clear strategic plan the
    managers are not only able to attend to the
    current business conditions and situations, but
    also address future activities based on the
    upcoming industry scenarios and factors. 

7
Appropriate allocation of resources
  • Systematic planning, directed activities and
    properly thought upon business decisions, not
    only help the business to allocate its resources
    in an efficient way but also enable it to
    judiciously make use of its assets with the
    motive to maximize its output and minimize its
    wastage. 

8
Measurable means of business performance
  • Strategic planning as read above is a
    step-by-step plan of the long term vision of the
    business which means it is broken down into
    smaller and more easily achievable missions or
    business goals over a short span of time. This
    enables to measure the performance of the
    business over the series of these short term
    business targets.

9
Flexible yet disciplined means
  • Though this is a measurable tool in case of any
    variation in the targeted business goal a
    strategic plan will enable to take a changed
    business move in order to achieve same long term
    business goal may be with a different set of
    actions.

10
Simplified yet motivating
  • The strategic plan is based on the concept of
    simplifying the complex goal into fragments of
    simple and understandable sections of smaller
    targets. This helps to understand the complex
    whole picture in an easier way by breaking down
    into sections. 

11
A competitive edge over rivals
  • When a business leader has a plan which is
    systematically made to cover his long term vision
    and is finely crafted in sections to elaborate
    its small, thoughtful goals, he has better and
    higher chances of extracting from the upcoming
    opportunities and fighting back the threats or
    converting them to their advantage.

12
Enables Follow-up and change implementation
  • The strategic planning process is based on goals
    which are nothing but just the small pies in a
    big cake which are achieved over a span of time
    to form that Big chocolate cake. For example the
    wider vision is to capture the national market
    over the span of the next 20 year. 

13
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