Internet Article Review: Effective Strategic Planning Effective Strategic Planning
The author's focal point in this article is strategic planning, the importance of it in today's business environment and various problems associated that may arise. The article discusses several problems that may arise during strategic planning and the importance of high yield goals during the planning stage. It offers a systematic approach to creating the necessary performance measures to track the plan, the various characteristics of those measures, and finally a short "How To" on implementing the plan.
ÃÂ·The first problem discussed, deals with the ""disconnect" between the strategic planning efforts of an organization and any real world action steps". Lefkowith, D. (2001) No matter how well the plan is designed, one of two things must happen:
oThe company's normal agenda must offer some amount of flexibility to coincide with the plan, in order to offer the best possible success of the plan.
oIt is necessary to design the plan around the company's daily processes.
Without one of the two taking place any plan, no matter how well designed, will not benefit the company. Since management will normally play an important role in strategic planning, it is critical that they keep the possibility of this problem in mind, so as not to become a victim of it. At Par this problem has accounted for several situations where revenue is lost unnecessarily because what is required cannot efficiently coincide with the normal procedures. In order for Par to be successful, they have to be positive that, before a plan reaches the implementation phase, it can be coordinated in such a manner that the revenue loss does not overshadow the total revenue gain.
ÃÂ·Problem number two discusses the lack of commitment expressed toward a strategic plan that is set in place. The author...