The Importance Of Strategic Planning

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Though facing a potential budget crisis, it is important to address at the following key factors in order to have the best result not only with the financial situation, but also with the responsibility of keeping on good terms with key stakeholders. Strategic Planning “In the absence of established or healthy institutional processes for dealing with budget cuts or involving the people in decision making, a crisis afford and opportunity to invent or reinvent the process that will serve the institution now and in the future” (Eldridge & Mason, 2010, p. 50) In speaking to strategic planning, it is important understand that, “The strategic plan takes on the long-term perspective; it sets the agenda for major investments and guides the institutions…show more content…
It is important for leaders to look at the strategic plan and link ideas back to that plan and the mission of the institution, knowing them inside and out. However, it is also important for those being impacted to look to leaders and see that they are not only openly communicating about the situation, but are actively working to solve the situation in the best possible manner. Kemper and Otto, (2006), noted the following key points to follow when working as a leader during a time of financial strain, “Timing your message appropriately, balancing safety and dignity, doing what is best for all, and allowing flexibility but still requiring accountability”( p. 43). By following these steps, people can look to the leaders on campus and see that they are working to make the necessary changes to deal with the budget cuts in the most appropriate and dignified manner. Romano et al., (2010), stated, “Maintaining a positive and optimistic attitude was essential to managing these difficult times” (p.67). This statement goes on to further support the idea of maintaining positive morale in times of crisis to not only be a leader but a model for others who may be impacted by cuts. Furthermore, Valotta et al., (2010) states, “While SSAOs and other campus leaders need to send consistent overall messages, some communications should be explicitly shaped for specific constituents.” (p. 84). This skill coupled with the suggestions of Kemper and Otto, suggestions made from Romano et al, can help to create an effective leader in times of financial
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