Organizational Goals Accomplished by Plan Developing Companies and organizations create plans in order to succeed and grow. According to the article The Importance of Planning in an Organization, in order for organizations to meet the goals they set for themselves they need to plan. There are different types of planning used by organizations. There are two types of planning that I will be focusing on that are used by organizations that assist them with achieving their goals and when it’s appropriate to use each type of planning. Two Types of Planning
Organizations tend to use many types of planning in order to help them reach the goals that they set out for themselves. “Planning involves envisioning the results the organization wants to
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“Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization’s direction in response to a changing environment” ("Basics of Strategic Planning," 2016). This particular type of planning helps the organization focus on a defined set of goals and allows them to adjust their goals depending on the environment. Strategic planning should follow guidelines. In order for strategic planning to succeed, an organization needs to be ready to succeed. “But even when there are good reasons to do it, the organization still needs to be prepared to engage in a successful process” (Bryson & Alston, 2011). Financial planning will be the other type of planning I will be discussing that organizations use. Financial planning will allow an organization to predict the growth of the organization as well as future profits. “Financial planning is looking at long-term profitability in order to create a greater return on assets, an increase in market share, and being able to look and see future
The benefits to those organizations that choose to embark on the process of developing a long-range plan are numerous as well as invaluable. Organizations that commit to such planning are able to establish objectives and priorities, make clear their future direction, adapting to both internal and external environmental changes, resolve major issues that impact the organization and obstacles and provide a clear and justifiable rationale for decision making (Bryson & Einsweiler, 1988, p. 3). Ultimately, the public is better
Strategic Planning—the process of developing a plan to achieve organizational purpose—is a management tool used to focus a workforce’s energy. Strategic planning ensures that the workforce achieves an organization’s mission. It is used by large organizations to increase the chances for long-term growth and profitability (Auka, 2016). Lockheed Martin’s strategy is well-aligned with the organization’s mission, vision, and values, reviewed carefully by a well-qualified team, and regularly measured against the appropriate objectives. This has positioned the corporation for success.
Planning: Planning helps in leading the business towards it aims, and achieving them in time. Planning formulates strategies to achieve the company’s objectives.
Financial planning is the method of managing the healthcare organization money in short and long-term to meet the needs of the organization. Strategic planning is the process of determining the missions and goals of organizations and procedures and processes on how to achieve the set goals. Both types of planning connect closely with each other in propelling the organization to reach the set targets (Thibodeaux). Financial planning will direct how healthcare organization can afford to reach the strategic goals. After the strategic planning has set the goals and the directions to follow to reach those goals, the financial planning will be created to calculate the available human and objectives resources, infrastructures, activities and timeframes
Strategy Analysis A strategic plan lays out the company’s future direction, performance targets, and strategy. In order for a company to be successful, it needs to have a clear vision and direction for the entire organization. It is hard to accomplish anything without a plan. A strategic plan looks at all the things a business could do and narrows it down to the most important and essential.
A strategic plan is a tool that delivers guidance in achieving a mission or goal with maximum proficiency and control for an organization. Strategic planning is used to transform and revitalize organizations. The plan helps provide an inclusive understanding of opportunities and challenges both internally and externally for the organization. The plan delivers an assessment of the strengths and limitations that are realistic within the company. A well-developed strategic plan will offer a comprehensive approach and empowerment for the stakeholders involved. It is an opportunity for learning and understanding priorities that will drive the business to succeed. Jones (2010), describes how in health care organizations, strategic plans characteristically concentrate on operational and organizational goals such as when to obtain new technology, how to meet competitive challenges, and what staffing, tools, or facilities are needed to ensure organizational survival. The mission and value statements are significant in determining the quality of a strategic initiative. Forcing the organization to look toward the future creates proactive objectives in which both short-term and long-terms plans and goals are necessary in order to succeed.
Kaufman, Roger and Stone, Bruce. Planning for Organizational Success: A Practical Guide. John Wiley & Sons, Inc.: New York, 1983.
Planning aims to reduce uncertainty. It does this by forcing managers to look ahead, anticipate change, consider the impact of change and develop appropriate responses. (Robbins 2012) Through attempted monitoring of conditions in a changing environment, one is able to respond quicker to new information and new circumstances, thereby becoming more flexible. In addition, having the environment under constant observation enables managers to analyse how the organisation will differentiate itself from its competitors, therefore facilitating more chan...
Planning is determining organizational goals and a means for achieving them. Planning is also the best way to improve the performance. It can encourage people to work harder to achieve the goals. So, the planning is very important and you must have the clear plan for your business. For example, Google which is the high technology firm that makes money from selling search-based Internet advertising, but Google says that it is not in the advertising business, but in the business of organizing the world’s information. Even though Google spent $1.65 billion in purchasing of YouTube to adhere to the business, but with YouTube, Google now helps users access and organize video content. The objective of Google is to organize the world’s
The first function of management is planning. Planning is a process that managers use to identify and involve goal setting and decide the best way to achieve the goal.(Bartol 2007) Planning connect the gap between where we do, where we intend to go. It predict the possible things to happen which would not otherwise happen (MSG 2012). There are several steps to the planning process, which are determine the goals of the organisation, evaluate the current position, consider possible future conditions, identify possible alternative actions and choose the best. Planning is the criteria thinking through goals and making decision to achieve the goal of the organisation’s objective, which requires a systematic way. Also objectives focus the managers how to achieve the final result as managers have to predict anything will happen, avoid the problem and fight back to competitors. An example of planning, which is the President Canon Inc Tsuneji Uchida and lead Canon Company become the no.1 in the global business (Canon.Inc 2011). Tsuneji Uchida has to understand what is the company objective and goal. First, make decision to protect the position and the aim of canon, improve the operation more diversity. Second, he creates the new design of camera and new technology, he plan to do these things to maximise profit.
If asked what strategic planning is one could interpret it as simply a road map that can guide the organization in the right direction. It is very unlikely that an organization would know which direction to take without a sense of direction. Managers are faced every day with decisions that have a major impact on the direction the organization must take, therefore, strategic planning can play an important role in guiding managers in the right direction. In other words strategic planning is a tool that management can use to give them a sense of direction that will guide them in doing a better job and to ensure that all the members of the organization are working toward the same goals
Strategic planning implies establishing in advance what an individual or organization wants to achieve within a specified timeframe and deriving ways on how to achieve that. A strategic plan is basically a course of action that is used to attain desired results. It means anticipating the future and having measures on how to grow into the future. Technology is a macroeconomic factor that is rapidly growing and changing. Technology has had positive effects all over across the globe to business organization and to individuals.
Strategic planning is an organizational process in which it looks towards developing and sustaining success or balance in its ever changing environment.
Strategic Planning is looking at where you are now, knowing where you want to be in the future and planning the steps to get you there.
Strategic planning is the continuous and systematic process of guiding members of an organization to make decisions about its future, develop the necessary procedures and operations to achieve that future, and determine how success will be achieved.