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Motivating Factors for Strategic Planning - Essay Example

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In the contemporary age when competition in the market has increased manifolds with the availability of new and better opportunities to the business entrepreneurs, the importance of strategic planning process cannot be overemphasized. “Strategic planning is a relatively new…
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Motivating Factors for Strategic Planning
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Motivating Factors for Strategic Planning In the contemporary age when competition in the market has increased manifolds with the availability of new and better opportunities to the business entrepreneurs, the importance of strategic planning process cannot be overemphasized. “Strategic planning is a relatively new genre of planning which is the cornerstone of every common-interest organization” (Moradi, 2012, p. 70). In order to make a holistic effort to engage in the process of strategic planning, it is imperative that all organizational personnel are convinced of the importance of strategic planning process. Management needs to take the staff members into confidence regarding how the strategic planning process would benefit them individually and collectively. Three key motivating drivers for organizations to engage in the strategic planning process are obtainment of competitive advantage, preparing for the future, and
The first motivator to engage in the strategic planning process for an organization is to gain competitive advantage over its contemporaries in the market. Many entrepreneurs with money establish businesses but they do not know what it takes to expand and sustain the business. “If a business has little idea where it is headed, it will wander aimlessly with priorities changing constantly and employees confused about the purpose of their jobs” (Online Business Advisor, 2006). Strategic planning process allows an organization to focus its manufacturing, marketing, and research efforts in such a way that the end product or service caters for the interest of exactly the population that needs it.
The second motivating factor for organizations to engage in the strategic planning process is to prepare for the future. The golden principle that organizations follow is, “If you don’t know where you’re going, you’ll probably end up someplace else” (Waechter, 2012). The strategic planning process help the organizations achieve this by delineating the steps that lead an organization to its desired future. An additional benefit it provides is that it helps the organizational personnel to optimize on their potential and enhance their productivity since they know what roadmap they have to follow. In short, the strategic planning process helps the management make informed decisions to have long-term benefits for the organization and all people associated with it.
Another very important motivating factor for organizations to engage in the strategic planning process is to prepare for change. In the present age, when technology advances at a very fast pace, change is inevitable. The strategic planning process enables an organization to assess what changes would be required in the future and what steps must be taken at a certain point in time to prepare for it. In addition to that, planning enables the organization to handle the dramatic changes that take place in the organization.
Concluding, three key motivators for organizations to engage in the strategic planning process are attainment of competitive advantage, preparing for the future, and preparing for the change. Organizations must know how they need to progress to attain their goals. Organizations want to have these motivators to keep themselves updated with the changing market needs in general and the consumers’ needs in particular.
References:
Moradi, H. (2012). The Role of Strategic Planning and Management in Increasing
Organizational Development and Productivity. European Journal of Social Sciences. 30(1), 70-77.
Online Business Advisor. (2006). Why A Strategic Plan Is Important. Retrieved from
http://www.onlinebusadv.com/?PAGE=171.
Waechter, S. (2012). Why Should Organizations Plan? Retrieved from
http://www.boardsource.org/Spotlight.asp?ID=35.493. Read More
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