How Strategic Planning Helps in Ensuring the Survival and...

HOW STRATEGIC PLANNING HELPS IN ENSURING THE SURVIVAL AND GROWTH OF AN ORGANISATION. Undergoing the process of strategic planning can go a long way in helping to ensure the survival and growth of an organization it seeks to eliminate the weaknesses of an organization and to confirm its strengths. It also analyses the environment and other factors that might affect the smooth running of an org and tries to rectify them accordingly and also to give the organization competitive advantage. Kevin Scholes and Gerry Johnson define strategic planning as A sequence of analytical and evaluative procedures to formulate an intended strategy and the means of implementing it In undergoing the process of strategic planning two sub-processes†¦show more content†¦Organizations analyze and make sure that their terms and conditions of service and trade are in line with the laws stated by the state. They also make sure that when certain laws that influence their operations are amended they also adjust accordingly so that they do not get caught at the wrong side of the law. It also analyzes which side of the political coin you are and if your products or services are safe and this helps in ensuring the survival and growth of your organization because it forewarns you if your current position is not safe, for example the Daily Newspaper and the Herald Newspaper. The Herald made sure it had registered with MISA as the new law stated but the Daily Newspaper did not and also the Daily Newspaper was on the other side of the political coin and thus led to its closure. The second sub-process in strategic planning is the SWOT (Strengths: Weaknesses: Opportunities: Threats) analysis. This process combines both external and internal analysis of the organization. This process is also of paramount importance in ensuring the survival and growth of an organization because it also looks at the internal running of the organization as well as its environment and tries to place the organization at a position of advantage over other players in the same field. SWOT analysis focuses on four things. Firstly it analyses theShow MoreRelatedHuman Resource Planning Assignment1359 Words   |  6 Pages Module: Human Resources Assignment: Discuss how Human Resource Planning contributes to effective Human Resource Management Date: 21st December 2011 Student: Laura Doyle Lecturer: Michelle Flannery Introduction In the following text, the process of Human Resource Planning will be defined and described in detail. We will see the importance of Human Resource Planning and the essential role it plays in ensuring successful Human Resource Management. Human ResourceRead MoreImpact Of Globalization On Business Environment1713 Words   |  7 PagesDiscontinuities and megatrends are an inherent part of today’s business environment and it is important the businesses assess the impact of both these concepts on their strategic objectives and daily operations of the business in order to stay ahead in today’s competitive environments. Most importantly CEO’s need to be at the head of the business’s strategic objectives to ensure that the business remain on track and able to quickly adapt to these changes in the environment. Changes that are described as rapidRead MoreManaging Strategic Change Aegon3858 Words   |  16 PagesQuestion 1 : Strategic Drift 3 Question 2: Discuss the external factors that influenced change within AEGON 7 Question 3: Critically Discuss the 8 behaviours 11 Question 4: Evaluate the role of the Auditing ProcessÂ…business strategy 14 Appendix 1 15 2006 financial highlights Ââ€" AEGON in the UK 15 References 16 Question 1 : Strategic Drift Thompson, Stickland and Gamble (2005) suggest that an organisational strategy should not be perceived as a fixed plan that the organisation utilisesRead MoreNokia4767 Words   |  20 Pagesintroduction of new Android based mobile phones. The company fell short in the smartphone era and its position as the number-one phone seller in the global market is under threat. The case study provides a brief analysis of what transpired at Nokia and how the strategy implemented by the management team from the period of the 1990s up to the 2010 led to the company losing its market shares at both ends of the mobile phone industry. During the period of 1991 and 1992 the company lost FM482million ($120Read MoreOperation Management2751 Words   |  12 Pagesconsideration, different authors have developed different concepts and hence promulgated all of them in order to indicate all the major aspects that can define what the operation management is and how it helps an organization in achieving high level of success. This paper is basically about how proper operation management helps an organization in performing different tasks strategically. For this purpose, the analysis is done from different perspectives. The first part of the paper gives an overview of what isRead MoreLearning and Talent Development Strategy2461 Words   |  10 Pagesemphasised the importance of strategic human resource management strategy being closely aligned to the overall business strategy. See our factsheet on strategic HRM for more information on that topic. * Go to our strategic human resource management factsheet Within the HRM strategy, that for learning and talent development (LTD) needs to articulate the capabilities required by the organisation to sustain competitive advantage and ensure organisational survival. The LTD strategy also coversRead MoreVoltas Limited-Organisational Strategy, Hr Plan, Hr Strategy, Vision, Mission and Values1836 Words   |  8 Pagesinternal transformation and business growth. Thirteen years ago, Voltas was on the verge of shutting down that is when voltas fornulated a brand new vision plan named MEGAVOL. Megavol — a business plan that aimed to achieve Rs100,000 million turnover with 10 per cent profitability by 2010-11. â€Å"Ourplan involved pursuing both organic and inorganic growth,† says managing director Ashok Soni, the man who took over the wheel in 2001 and has steered the organisation to its present course.The Megavol planRead More2014 15 Assignment4484 Words   |  18 Pagespurpose of 2 contrasting organisations A1 / T2 p.10 – p.12 P3 Describe how two businesses are organised A2 p.13 – p.16 P4 Explain how their style of organisation helps them fulfil their purpose A2 p.17 – p.24 P5 Describe the influence of two contrasting economic environments on business activities within a selected organisation A3 p.25 – p.36 P6 Describe how political, legal and social factors are impacting upon the business activities of the selected organisation and their stakeholders A4Read MoreInnocent Drinks Business Analysis3531 Words   |  15 PagesProcurement 13 Maintaining Growth 14 Conclusion 17 Glossary of Terms 18 References 19 Bibliography 20 Appendix A – Innocent Annual Report 2007 22 Appendix B – Innocent Facts and Figures 23 Appendix C – Dec 2008 Financial Report 24 Introduction The purpose of this report is to assess Innocent Drinks, a UK based company who operate within the soft drink FMCG industry. This case study was derived from seeking the answer to how the organisation has achieved the growth, and how this can be sustained Read MoreThe Influence of Organisational Structure on Organisational Culture2080 Words   |  9 PagesThe success or failure of an organisation can often be attributed to the sum of their parts such as staff, profit, products, strategy, technology, environment, structure and culture. These parts or factors can directly contribute to the strengths or weaknesses of an organisation and they are all interrelated. This essay will examine organisational structure and organisational culture and the influence mechanistic and organic structures have on organisational culture. Organisational structure,