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Elements Of Strategic Planning

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he success of any government entity, public or private company and non-governmental organization depends on the organization’s ability to meticulously plan, design and implement strategies that gear it up for the achievement of its goals. This is possible through an engagement of the relevant stakeholders in the process of strategic planning. Strategic planning has been a major area of interest for decades and has been extensively defined, studied and developed. Strategic planning can therefore be defined as a continuous process and attempt at formulating decisions of the goals to be achieved and the methods or steps to be employed in making it happen (Neal & Buck, 2012). Strategic planning is a broad concept that encompasses the identification …show more content…

As such, it is made up of several elements that combine to increase its power and ability to provide an unassailable strategy and direction for the company. According to (McCarthy, 2017) strategic management is comprised of several significant elements and the first element of a strategic plan is a vision statement. A vision statement is a statement at the heart of any organization that declares the long term goals it hopes to achieve and is an important framework support for strategic planning. It is supposed to be developed by including input and feedback from everyone in the broader team and ought to be bold and rally the team to work towards its …show more content…

In some cases however, both the vision and mission statement can be combined in order to produce a longer more detailed description of where an organization is headed and what they do as well as how they do it.
Another important element of strategic planning is establishing the organization’s core values which are basically defined as the fundamental, guiding principles and beliefs that firmly establish the foundation or background on which behavior and work is based on. They are basic and constant and as such do not get affected by the ever-changing environment but determine colleague interactions, influence decision-making processes and the tactics utilized in accomplishing the mission.
The fourth element is the SWOT Analysis which according to (UN, 2015) is an internal input gathering tool and is an acronym that stands for Strengths, Weaknesses, Opportunities and Threats. SWOT Analysis, is a summary of the perceptions of the management concerning the internal strengths, internal weaknesses,

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