STRATEGIC PLANNING AS A MANAGEMENT TOOL

Abstract

The article analyzes the importance of strategic organizational planning in the management of companies in a competitive market. Strategic planning, considered an important management tool, has come to be used by companies as one of the main assistants in making decisions and achieving their goals. The historical context of strategy and planning, concepts related to the subject, and research conducted by the author are important factors in developing an objective and easy-to-use strategic plan. Strategic planning aims to meet the needs of organizations in an uncertain future, enabling them to effectively address the environmental challenges of this globalized economy in which we live today. Corporate strategic planning provides a clear understanding of the company's purpose in terms of market segment, vertical production, and geographic region. When properly communicated to employees, it inspires trust and safety. A planning goal can be defined as the development of administrative processes, methods and approaches that provide a viable situation for assessing the future implications of current decisions in terms of business goals that will facilitate faster and more consistent decision making in the future. Based on this, we can state that systematic planning tends to reduce the uncertainty associated with the decision-making process, and, consequently, to increase the likelihood of achieving the goals, objectives and goals set for the company. The tool that needs to be used to implement strategic planning is an action plan, which we can define as breaking down each strategy, objectives, and strategic goals of an organization into more detailed plans. The action plan allows the company to apply the proposed planning more effectively, as it breaks down goals into tactical and operational plans, allowing everyone in the company to know their role in achieving the set goals. Based on the above, it can be argued that strategic planning is a fundamental tool for achieving the goals of an organization, especially in light of profound changes in the nature of the business and reforming business strategies, with the strategy itself being the most appropriate action. or the path that must be followed in order to achieve the goals of the organization.