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Modern society is complex and it changes at a staggering pace. Incredible advances are made in all fields, resulting in new products, services and demands from consumers. Only those enterprises that stay ahead of the game can hope to grow and prosper. The only way to stay abreast of change is to anticipate and plan for those changes. This, in turn, can only be achieved if there is a proper business strategy in place.
It is especially larger enterprises that consist of a number of trading units that are vulnerable to change. If there is no strategic plan that directs the activities of the various units, then they can easily work against each other, rather than as cohesive cogs in a big machine. A strategic plan can help to ensure that each unit works to the advantage of both itself and the other units in the stable.
Organizations and enterprises are found to achieve specific goals. If this is not the case, the very reason for the existence of the organization should be questioned. In order to achieve those goals, it is necessary to have very specific plans that will make sure that all the efforts of the organization is directed towards the achievement of its goals and objectives. This is what the purpose of a strategic plan is.
A strategic plan must take many factors outside the organization into account. Developments in the fields of technology, medicine, the social environments, politics and many others will most certainly have a direct influence on the organization. These fields must therefore be studied. The purpose is to determine the ways in which advances will influence the organization itself. If this is not done no strategic plan can be realistic.
Naturally, the internal environment of the enterprise also needs to be studied. It is necessary to list all the weaknesses and strengths of the enterprise. This may be difficult because many people find it hard to be objective. It is necessary, however, because strengths can only be exploited if they are real strengths and weaknesses can only be eliminated if they are acknowledged.
The development of a strategic plan is a complex business and can hardly ever be done by a single person. Most corporations therefore hire external experts. Independent experts are less likely to be biased, threatened or subjective. It remains important, however, to be actively involved in the process because those inside the company have a better idea of where the organization wishes to go.
A strategic plan can never be completed. This is because the world keeps changing and the factors that have an influence on the business also change. The strategic plan must keep pace with these changes and it is often necessary to revise goals previously set in order to capitalize on new developments. No organization can hope to grow or to achieve its goals if it does not carefully monitor the environment within which it operates.
Nobody can anticipate the future and that is why no strategic plan can ever be said to be complete. However, careful study of trends can help businesses to identify future trends and developments. The earlier they prepare for those changes, the best they will be able to use the change to their own advantage.
It is especially larger enterprises that consist of a number of trading units that are vulnerable to change. If there is no strategic plan that directs the activities of the various units, then they can easily work against each other, rather than as cohesive cogs in a big machine. A strategic plan can help to ensure that each unit works to the advantage of both itself and the other units in the stable.
Organizations and enterprises are found to achieve specific goals. If this is not the case, the very reason for the existence of the organization should be questioned. In order to achieve those goals, it is necessary to have very specific plans that will make sure that all the efforts of the organization is directed towards the achievement of its goals and objectives. This is what the purpose of a strategic plan is.
A strategic plan must take many factors outside the organization into account. Developments in the fields of technology, medicine, the social environments, politics and many others will most certainly have a direct influence on the organization. These fields must therefore be studied. The purpose is to determine the ways in which advances will influence the organization itself. If this is not done no strategic plan can be realistic.
Naturally, the internal environment of the enterprise also needs to be studied. It is necessary to list all the weaknesses and strengths of the enterprise. This may be difficult because many people find it hard to be objective. It is necessary, however, because strengths can only be exploited if they are real strengths and weaknesses can only be eliminated if they are acknowledged.
The development of a strategic plan is a complex business and can hardly ever be done by a single person. Most corporations therefore hire external experts. Independent experts are less likely to be biased, threatened or subjective. It remains important, however, to be actively involved in the process because those inside the company have a better idea of where the organization wishes to go.
A strategic plan can never be completed. This is because the world keeps changing and the factors that have an influence on the business also change. The strategic plan must keep pace with these changes and it is often necessary to revise goals previously set in order to capitalize on new developments. No organization can hope to grow or to achieve its goals if it does not carefully monitor the environment within which it operates.
Nobody can anticipate the future and that is why no strategic plan can ever be said to be complete. However, careful study of trends can help businesses to identify future trends and developments. The earlier they prepare for those changes, the best they will be able to use the change to their own advantage.
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