Question

Compare and contrast the challenges and issues that the organization's managers face when it comes to strategic planning. Your analysis can include: The reasons why they undertake strategic planning, the process, adoption, implementation, measuring goals and feedback.

Answer 1

Challenges and issues faced by an organization's management at the time of strategic planning:

1. Slow decision making: There are chances that the organization is spending a lot of time in its planning, as a result of which only a little time is left for its execution and implementation.

2. Non-feasible execution: There might be a possibility that we are preparing a strategy, but when it comes to its execution, we get to know it is not possible to implement, we don't have enough resources, time or skills to do that.

3. Lack of creativity: There might be a chance that managers do not have the amount of creativity and intelligence required to build a strategy, as a result, the chances of its success will be lesser.

4. Deciding focus: While developing strategies, deciding or coordinating between operations of the organization and its growth is also a big challenge.

Reasons why they undertake strategic planning:

1. helpful in beating the competition, and increasing the market share

2. Helpful in increasing efficiency and productivity of the organization as it gives a direction to the operations.

3. Assures the organization's sustainability in the long run.

Process of strategic planning:

1. Setting up of agenda or standard

2. Discussion, collecting information and performing a SWOT analysis.

3. Developing the strategy on the basis of the above step.

3. Reviewing its feasibility and follow up.

Measuring goals and feedback:

It includes inspecting whether the strategy formulated is going as per the plan or not, any alterations is required or not. If required, they are feasible or not.

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