Advantages And Disadvantages Of Strategic Planning

2. Strategy Planning

2.1 Introduction

Aims to increase the profits of the business for next five years, I’m going to outline the benefits and drawbacks of such a plan, and to explain how can it achieved the goals, mission and vision, proposed the actual action we needed to develop. A strategic plan can help us to communicate with the organizations goals, the actions needed to achieve those goals and all of the other critical elements developed during the planning exercise. It is a disciplined effort that produces basis decisions and actions that guide what an organization is, with a focus on the future. An effective strategic planning articulates not only where an organization is going and the actions needed to make progress, but also how

2.3 Advantages and Disadvantages

Advantages of Strategic Planning

For Strategic Planning, it is essential of a company, especially for a newly company. It can assist the communication between all managers, thus the produce and action can be smooth. Also, it can reduce resistance to change and risk. Improves resource distribution, so the works done efficiently when aligned with strategic objectives. It can provide a basis for the staff that general operational decisions can made and understand these decisions in a single direction.

It can provide a vision of the company future, verify the purpose and values of an organization, sets objectives, clarify the risk and opportunities we may encounter, to determine the methods to leverage strengths, and reduce weaknesses. It also helps in bringing about discipline in the company for all types of internal and external processes, it is good for establish company policy.

Strategic management is possible to help to increase the market share and also the profitability of the company in the market. It helps to set up the direction basis in the organization must go, and establish objectives and goals with the vision and mission charted out for it. A strategic plan offers a basis from which an organization can grow, establish criteria for smart

As you see, many of the disadvantages due to inappropriate application rather to the limitations, strategic planning includes goals such as expansion our business, diversification developing, rebranding of company and improved employee recruitment and retention. This is required related knowledge of these areas and the skills to manage these strategies and the trickery to achieve goals. While I believe that strategic management can be beneficially applied to this situation. It can give the company a fresh perspective on business, determine the future need and define long-term goals. It can enable the organisation to consider the existing or possible future threat of competition from other organisations, to improve our