Planning : Strategic Planning Process

1487 WordsOct 21, 20146 Pages
Strategic Planning Process No two people go through life the same exact ways. Some choose to live moment to moment while others feel the need to have a grander plan for their future. People develop plans for different scenarios in their life to include what college they will attend, what profession they want to enter, the type of wedding and even, when they want to get married. Individuals who live by a plan can often be heard referencing their Plan B or five-to-ten year plan. Just as individuals like to plan, businesses also want a blueprint for their short- and long-term growth. Planning enables organizational leaders and managers to play a significant role in creating progressive objectives that enrich company productivity and profitability. Essentially, senior executives must have a vision for the future. Planning also focuses them on finding the right balance of growth opportunities, essential services, and innovative change. Planning is the cornerstone for a company to take a look at where they are and to create a roadmap on how to move forward. Managers build plans to ensure the organization is focused on the same goals and objectives. According to Plunkett, Allen & Attner (2013), planning helps leaders reduce wasted time, money and effort by providing the company with a common purpose as well as a sense of direction. Organizations develop as many plans as needed to address their requirements and objectives. When building a plan, managers normally follow
Open Document