Abstract
Strategic planning is critical in the management of an organisation due to the essential role it plays in leading the organisation into the identification of strategic plan to be used by the organisation through focusing the issues within the organisation, evaluating their effects while considering the organisational operations and developing alternative measures and tactics so as to ensure that the organisation earns competitive advantage as discussed in the paper. The dependence of the strategic planning and the performance of the firm is also notable with all the goals in the strategic planning, leading to influence the performance of the organisation. The paper uses elements of the strategic plan including the mission and the vision, the core values, the strengths, the weaknesses, the opportunities and the threats as well as the strategies, with an inclusion of the objectives and the operation tactics to review the strategic planning and the organisational performance. Qualitative methods are used to collect and analyse the secondary data from review past studies and reports. The study finds strategic planning significantly depending on the analysed elements of the strategic planning in achieving the outcome. The elements also play a critical role in aligning the organisation towards working on a specific organisational strategic planning process to ensure all stakeholders are focused on a common goal that determines the performance of the firm.
Highlights
Strategic planning is critical in the management of an organisation due to the essential role it plays in leading the organisation into the identification of strategic plan to be used by the organisation through focusing the issues within the organisation, evaluating their effects while considering the organisational operations and developing alternative measures and tactics so as to ensure that the organisation earns competitive advantage as discussed in the paper
The elements play a critical role in aligning the organisation towards working on a specific organisational strategic planning process to ensure all stakeholders are focused on a common goal that determines the performance of the firm
With reference to strategic planning to be defined from a different school of thought as evident in (National Minority AIDS Council (NMAC), (Maleka, 2014), the stand out explanation of strategic planningis the process of focusing on the issues within the organisation, evaluating their effects while considering the organisational operations and developing alternative measures and tactics of ensuring the organisation earns competitive advantage
Summary
The strategic planning activities are critical in determining the growth and development of an organisation which translate to the success of the firm. In (Aileron, 2011) Forbes article, having a plan for plan’s sake is among the great causes of strategic plan failure, whereby a strategic plan is developed by an organisation because an organisation is characterised by having a plan. Organisational planning teams must perceive and interpret the business environment changes to retain the competitive advantage of the firm otherwise the strategic performance failure is due to the inability to understand the environment and not focusing on the result. Partial commitment plays a significant role in the success of the strategic plan and the fact of not having the required people and resources cause failure. It is a must nowadays to delegate the right people to execute the suitable plan, and not to rely on people who are not committed or have inadequate knowledge of executing the strategy in tough circumstances
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