Strengths And Weaknesses Of Planning And Strategic Planning Essay

1398 Words Dec 13th, 2015 null Page
According to Jones, Scholes and Whittington(2008,p402) “ Strategic planning make take the form of systemised, step by step, chronological procedures to develop or co-ordinate an organisations strategy”Planning and Strategy differ, strategy is often the solution from the point of navigation. A strategy is what an organisation would like to do and the plan is how you will do it. They cross over and require alignment witn the organisations goals. An authentic strategy requires time and effort by an organisation, the implementation of a value creating strategy will be valuable

The strengths/weaknesses of planning and strategic planning in a contemporary business
The strengths of planning and Strategic planning are the encouragement of behaviours including decision making which support increased profits. These include management accountability, goal setting, measurement and evaluation and if done well create a solid framework and direction across the entire business with a set of initiatives that become the drivers for the execution of this strategy. Its weakness are numerous depending on the organisation in a culture where Managers or Leaders have large egos can get carried away and use this as a recreation exercise. Research indicates that companies who integrate their strategic plans into their daily operations have a higher success rate, are more profitable and have a much closer knit company culture, this cohesion makes tough times bearable and successes a “win win”…

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