- Main benefits of strategic planning
- Proactive adaptation to change
- Creation of highly efficient work teams
- Perfecting the decision-making process
- Better use of time and resources
- Creating a framework for internal communication
- References
Some of the benefits of strategic planning are the proactive adaptation to change, the creation of efficient work teams or the improvement of decision making. In general, with adequate strategic planning, there are better long-term organizational results.
This is defined as a systematic process in which a vision for the future is translated into broadly defined goals or objectives. It also involves designing a sequence of steps to achieve them.
Unlike long-term planning, strategic planning begins with the desired end and moves back to the current state.
It also contrasts with tactical planning, as it is much more comprehensive and flexible. Unlike this, it does not focus on precisely defined intermediate objectives and with previously determined means.
Main benefits of strategic planning
Proactive adaptation to change
Today change is happening faster and more extensive than ever. This can affect many organizations and put their survival at risk in the medium and long term.
One of the benefits of strategic planning is that it helps leaders creatively and intelligently face the challenges posed by the uncertainty of change.
In this way, strategic management activities are designed to transform a static plan into a system that provides strategic performance information to decision-making.
This flexibility allows the plan to evolve and grow as circumstances change.
Creation of highly efficient work teams
Another benefit of strategic planning, supported by strategic management, is that it teaches executive teams to function as a highly effective team by participating in the construction and support of the strategic plan.
Thus, the fact of involving each member of the team in planning reinforces their commitment to meeting the goals and objectives of the organization.
This allows individual and group performance to be maximized, which in turn enhances their effectiveness and responsibility.
Perfecting the decision-making process
The strategic planning process involves making tough decisions. This represents an opportunity for organizations to refine their decision-making processes.
Planning involves the senior management team, the administration and, in general, all the people with managerial responsibilities.
Therefore, one of the benefits of strategic planning is that it becomes an opportunity to rally the organization around business goals and refine the way decisions are made.
Better use of time and resources
All organizations have limits on time, financial resources, and human resources.
Strategic planning can determine the best way to dispose of those resources and to make the best use of them.
From this perspective, it is necessary that all the expenses of the organization are evaluated to determine how they will contribute to achieving the key results.
Creating a framework for internal communication
One of the great benefits of strategic planning is that it promotes the creation of a framework for internal communication.
Through effective communication differences are negotiated and interests are aligned to achieve consensus.
Effective internal communication ensures that the members of the organization are working collaboratively to achieve the strategic objectives set.
In addition, it helps develop a cohesive culture and offers the tools required to make the right decisions in line with the organization's goals. All of the above increases efficiency and productivity.
References
- Strategic planning (s / f). Business dictionary. Recovered from businessdictionary.com.
- Haines, S. (2016). The Systems Thinking Approach to Strategic Planning and Management. New York: CRC Press.
- Saffold, G. (2005). Strategic Planning: Leadership through Vision. Nairobi: Evangel Publishing House.
- What is Strategic Planning? (s / f). Balanced Scorecard Institute. Recovered from balancedscorecard.org
- Cassidy, C., Kreitner, B. and VanHuss, S. (2014). Administrative Management: Setting People Up for Success. Connecticut: Cengage Learning.
- Huttner, N. (2013, November 26). In-depth: How the right approach to strategic planning can build capacity. Redstone. Available at www.redstonestrategy.com.