Objectives And Objectives Of Strategic Planning

884 Words Sep 1st, 2015 4 Pages
Setting and Achieving Goals
To stay competitive in today’s markets, it is important for companies to determine objectives and develop a plan so as to achieve financial goals. Effective planning is an essential element if a company is to successfully employ change management and implement new processes and procedures that will adjust organization functions and operational assignments in order to meet the desired outcomes. Different methodologies for planning exist to meet the specific needs within organizations. The most common planning approaches include strategic, tactical, operational, and contingency plans (Hartzell). Even though all of these strategies are extremely useful at different echelons within any one business, the goal setting capabilities of strategic and tactical planning within organizations have the highest degree of criticality and set the guidelines for subordinate operational and contingency plans.
Strategic Planning Strategic planning is developed as an organizational pathway that will come to fruition over many years. It uses internal and external information that is gathered at a macro level, which will become the basis for how a whole organization operates (Simerson, 4). This approach is a top down methodology used to give direction and guidance to all echelons within an organization (Simerson, 3). Some companies such as Johnson & Johnson are broken into multiple operating sub-companies, which allow each individual sub-company to set a…
Open Document