Strategic Planning : Strategic Plans Essay

919 Words Oct 6th, 2015 4 Pages
Strategic planning has gained importance and prevalence in organizations, both for-profit and not-for-profit as well since it debuted in corporations in the 1960. Indeed, strategic plans service to guide an organization on the strategic direction it wishes to take, the specific goals and objectives to be achieved and the means of resourcing the activities identified as pertinent to implementing the strategy. Nonetheless, the formulation of strategic plans remains a daunting exercise to strategists and planners in the contemporary business world, because business situations surrounding an organization may be subjected to rapid and disruptive changes regardless of how predictable they might have appeared during the planning process. As such, strategic plans should be flexible enough to allow crucial changes to be incorporated along their implementation process, which would facilitate the achievement of goals envisioned. Indeed, the balanced score card and the SWOT analysis are tools developed to facilitate strategic planning that help in formulation of strategic plans that are visionary, conceptual and directional (Huang, 2009; Kearn, 1992).
As such, it is of paramount importance that one is able to evaluate or assess the quality of a strategic plan even before it is implemented to gauge its probability to achieve the expected outcomes. Often, the terms used in a plan, and how they are utilized therein sheds light on the thoroughness of the planning process and the…

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