The benefits of strategic planning business essay

This is due to more stringent requirements for strategic Plan: it must be flexible to take into account any changes both within the organization and in the external environment, etc. In addition to a mission statement, the business developed a vision statement: To eliminate the United States dependency on all foreign energy sources.

benefits of business strategy

Late inMr. In this case, it used to manage the future of the business organization and hence position the businesses at positions where they can strategically meet their business goals and objectives effectively and efficiently Marien, Neely, A. The GPRA mandated that all federal agencies implement strategic planning and performance measures3.

Traditionally, organizations have focused on material assets, cost cutting, and reduced employee expenses as a means of increasing competitiveness and profits CSU-Global, Become a Freelance Writers Place an Order Flexible yet disciplined means Though this is a measurable tool in case of any variation in the targeted business goal a strategic plan will enable to take a changed business move in order to achieve same long term business goal may be with a different set of actions.

Strategic planning process does not only have its good part; it has a number of problems associated with it. This way of moulding in order to remain on the same path to attain the thought of aim keeps the discipline in the hierarchy and the structure of working.

This strengthens the business position over its competitors and rivals and reduces the changes of failures and weak decisions resulting in loss. This group does not gather most of its own data, so the leaders will need to gather metric information from other College areas.

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Strategic Planning