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Strategic planning process assists organizations chart a course for accomplishing its goals and objectives. The process starts with reviewing the organization's current operations and identifying operational areas that warrant improvement in the upcoming year (Bryson, 2011). From here, planning entails envisioning the outcomes the organization desires to attain and identifying the steps appropriate for realizing the desired success. This paper offers a realistic understanding of the ethical, cultural and financial pros and limitations of implementing a strategic planning process.
From a financial perspective, the strategic planning process ensures an efficient use of resources (Ljoljic, Buchmeister, & Katalinic?, 2003). Regardless of their sizes or industry, organizations always encounter the problem of limited resources. The strategic planning process offers the information that leaders need to make effective decisions regarding resource allocation approaches that enable the organization to attain its objectives. This leads to maximum productivity and resources are not wasted on projects that have minimal chance of success. Strategic planning holds an organization accountable for respecting obligations in a spirit of fairness and honesty while sustaining economic viability and health.
The strategic planning process has some ethical benefits as well. The planning process further enhances the role of ethics and social...
It establishes a business behavior, which acknowledges candor, sincerity, transparency and honesty to promote the organization's influence and credibility. Additionally, the strategic planning process puts ethics and social responsibility mechanisms in place to ensure the organization adheres to federal and state laws and understands that some actions, though legal, could still have adverse effects.
Regarding culture, strategic planning process promotes cultural alignment. Because organizational cultures are unique and serve strategic benefits, firms must consider strategic planning. For instance, let us look at a high performing firm has a corporate strategy of offering a friendly and fun customer oriented environment. This cannot align appropriately with a stagnant culture or a one with highly stoic workers. Instead, it is advisable for the organization to recruit friendly, fun and customer-centered employees. This must be reinforced by an atmosphere that is fun and rewards high customer-friendly actions (Bryson, 2011).
There are numerous limitations in using strategic planning, which reveal that this management approach is not universal to all problems or situations. First, strategic planning cannot offer a detailed and precise picture of the future. The method of providing a detailed description of the future of an organization…
References
Bryson, J. M. (2011). Strategic Planning for Public and Nonprofit Organizations a Guide to Strengthening and Sustaining Organizational Achievement. San Francisco, CA, Jossey-Bass Publishers. Http://Site.Ebrary.Com/Id/10114175.
Ljoljic, B., Buchmeister, B., & Katalinic?, B. (2003). Strategic Planning as a Factor of Success in a Competitive Environment. Daaam International Scientific Book 2003, 359-366.
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