Strategic plan

The strategic plan is a genre of communication that is specific to organizations and is used to convey the organization’s strategies. Cornut et al (2012) studied the features of the strategic plan genre by examining a corpus of strategic plans from public and non-profit organizations. They found that strategic plans have a shared understanding of what is the appropriate language and that a true strategist is one who is able to instantiate the genre strategic plan through appropriate application of language. Strategic planning is also seen as a communicative process, where texts within the planning process are constructed through a series of communicative interfaces and a strategic plan is only realized when it is widely shared and sparks the willingness to change within individuals in the organization. Communication plays a key role in the realization of learning organizations and strategic planning, as it is necessary for maintaining relationships and achieving the core disciplines of systems thinking, personal and organizational mastery, mental models, building a shared vision, and team learning.

Michael Porter in his book “Competitive Strategy” which was published in 1980, he discussed the importance of considering four key elements when formulating a competitive strategy. These elements are:

1. Company strengths and weaknesses: This refers to the internal factors of the company such as its resources, capabilities, and competencies that can be leveraged to gain a competitive advantage.
2. Personal values of the key implementers: This refers to the values and beliefs of the management and board of the company. These values can influence the company’s strategy and decision-making.
3. Industry opportunities and threats: This refers to the external factors of the company such as market trends, competition, and technological advancements. These factors can provide opportunities for growth or pose a threat to the company’s survival.
4. Broader societal expectations: This refers to the expectations of society at large, including issues such as sustainability and social responsibility. These factors can impact the company’s reputation and long-term success.

It’s important to consider all these elements throughout the strategic planning process to develop a comprehensive and effective strategy.

Strategic planning is an exciting process that brings together all the elements of an organization to achieve its goals. It is a continuous and iterative process that is guided by feedback loops and input from all members of the organization. The process includes evaluating the organization’s mission and strategic issues to identify opportunities for growth and new programming. The end result is a comprehensive strategy that takes into account the organization’s environment and competitive situation and provides a clear vision of what the organization aims to achieve and the key initiatives that will help achieve this vision. It is a process that brings together all members of the organization and gives them a sense of purpose and direction.

Strategic planning is a process that helps organizations determine their direction and plan for the future. It involves evaluating internal and external factors, such as company strengths and weaknesses, industry opportunities and threats, and societal expectations. This process can be formal or informal and is often iterative, with feedback loops throughout.

There are a variety of analytical tools and techniques that are used in strategic planning to help provide a framework for the process. These tools include PEST analysis, scenario planning, Porter five forces analysis, SWOT analysis, growth-share matrix, balanced scorecards and strategy maps, responsive evaluation, and VRIO Framework. Each of these tools provides a different perspective and helps organizations identify areas of strength and opportunities for improvement.

Strategic planning is a comprehensive process that involves evaluating internal and external factors and determining the best course of action for an organization to achieve its goals. It is not just about financial projections, but also includes a thorough analysis of the competitive environment and the development of a clear and actionable strategy. McKinsey & Company developed a capability maturity model that highlights the four stages of planning process, with strategic management being the highest level. Proper strategic planning is important for organizations to stay competitive and achieve long-term success. As Sekora highlights, the use of technology-based planning is crucial for countries to keep up with emerging superpowers.

One critique of strategic planning is that it can lead to a focus on short-term goals and a lack of flexibility. This is because the process of creating a strategic plan can be time-consuming and resource-intensive, and once it is in place, organizations may feel obligated to stick to it even if the external environment changes. This can lead to a failure to adapt to new opportunities or threats, and a lack of innovation. Additionally, it is also important to note that strategic planning can be costly and time-consuming, which may not be feasible for smaller organizations or those with limited resources.

Furthermore, some argue that strategic planning can lead to a lack of accountability and a lack of ownership of the plan among employees. This is because the process of creating a strategic plan is often led by top management and may not involve input from employees at all levels of the organization. As a result, employees may not feel invested in the plan and may not take ownership of its implementation.

Despite these criticisms, many organizations continue to find value in the strategic planning process. The key is to be aware of the potential limitations and to incorporate a degree of flexibility and adaptability in the planning process.