The Importance of Strategic Planning and Thinking
The global world of today is characterized by fast change and a heavy information flow (Abell, 2008). These traits present the leaders with fresh and complicated threats, driving them to be more inventive (Abell, 2008). Any business needs innovation to succeed, but most companies have failed to prioritize it on their management agenda. Planning and thinking strategically help firms survive in a changing business climate (Abell, 2008).
Reasons Why Strategic Planning and Thinking Are Important for Government and Nonprofit Leaders
Instead of anticipating and preparing for changes, the majority of businesses waste their time seeking solutions and responding to unanticipated ones (Burke, 2013). These institutions spend most of their time and money trying to cover for the unexpected changes. This scenario forces the organization into a reactive posture (Campbell, 2014). However, through strategic planning, organizations can anticipate changes and prepare in advance (Burke, 2013).
Strategic thinking allows leaders to come up with a strategy that has an integrative framework for decisions concerning the direction of the business and utilization of resources. This involves the use of data both internal and external and the synthesis of opinions and perceptions from the leaders and the stakeholders in the organization (Steiner, 2007). This provides a competitive domain for the organization by giving it a corporate strategic advantage.
Strategic thinking and planning allow leaders to incorporate the needs of the customers, organizations, and the employees in the process (Betz, 2016). It ensures that the best practices within the industry are adopted by the organization and are included in the vision through benchmarking (Betz, 2016). The leaders are, therefore, capable of becoming innovative and steering the organization towards success.
Strategic thinking and planning allow leaders to ensure cohesion is fostered within the organization (Betz, 2016). At every phase of the procedure, employees are involved, which gives them a sense of belonging. The involvement allows them to stay engaged during the execution of the operation plans with the organization. The implementation of the operational planning ensures the achievement of the goals and objectives of the organization and ensures that the needs of the customer are met (Betz, 2016).
Experience with Strategic Planning
Strategic planning has become an important part of any organization looking to survive in a competitive business world. Even the organizations that are not for profit require a strategic plan that will ensure they achieve their goals and objectives (Betz, 2016). In the organization that I have been a part of, strategic planning was an important part of business. It included the description of the mission, vision, and the core values of the business. The plan included an explanation of the plot on how the organization will acquire their vision and a definition of the strategic goals and objectives. The plan provided a guideline on the contribution of any stakeholder.
Evaluation of the Strategic Planning Process
The strategic planning process applied by the organization allowed it to have a sense of direction. The employees understood the goals and objectives of the organization and thus played their part in ensuring the organization was moving in the right direction. This provided a competitive advantage for the organization and eased the work of the leaders.
Conclusion
Organizational leaders have an obligation to create time to indulge in strategic thinking in their entities. Without strategic thinking and planning, the leaders are at a risk of making quick decisions, which lack creativity and insight. Therefore, the process is an important part of any organization and thus should be applied always.
References
Abell, D.F. (2008). Defining the business- The starting point of strategic planning. Englewood Cliffs, NJ: Prentice Hall.
Betz, F., (2016). Strategic thinking and managing organizational change. Australia: Precision Group Limited.
Burke, W. (2013). Organization change: Theory and practice. New York: SAGE Publications, Inc.
Campbell, H. (2014). Managing organizational change. London: Kogan Page.
Steiner, G. (2007). Strategic planning. Michigan: Free Press.
