Importance of Review in Developing Strategies and Business Plan

This presentation discusses the importance of reviewing strategies and business plans in developing a successful business plan. It explores the impact of external factors on organizational goals and objectives, the management of risks and uncertainty, and the evaluation of tools like SWOT and PESTLE analysis. The presentation concludes with the benefits of effective planning and the importance of monitoring and controlling for achieving overall business goals.

Strategic Planning

Table of contents
 Introduction
 Importance of review in developing strategies and business plan
 Evaluation of tools to review strategies and business plan
 Conclusion
 References

Introduction
 Strategic and business plan are the important part of any
organization and furthermore, this presentation will describe
importance of review in developing firm’s strategy and business
planning. Strategic direction available to business will be analyzed.
Strategic plan will be prepared for Vista alone with monitoring
strategies to ensure successful implementation of this plan.

Importance of review in developing
strategies and business plan
 Accomplishing organizational goals and objectives - It is very
important to review the strategies and business plan annually to
analyse the impact of external environment on the organization and
it is not necessary to conduct the formal meetings to review the
plans in order to achieve goals and objectives of the organization.
 Managing risks and uncertainty - The review in strategies and
business plans helps in analysing and managing the risks which can
be the essential part of the Vista's success. The risks and threats
occurred in the competitive market can be analysed by reviewing its
business plan and will reduce financial consequences which can be
deal quickly and employees will be more clear about the tasks and
how to reduce the conflict situation and enhance the productivity and
profitability of the organization.

Evaluation of tools to review
strategies and business plan
 There are various types of tools that can help to review the strategic
and business plans and the most common tools used SWOT and
PESTLE analysis which can help the Vista to review its strategic plan
and determine the current position in the marketplace and where will
be the organization in the next few years. It is essential for the
organization to use this tools so that they can achieve their purpose
in the future.
 The pestle analysis is very useful for the organization to access
the current position in the marketplace and direction of the business.

To be contd..
 The competitive strengths and
weaknesses can be analysed by
the SWOT analysis which is the
useful technique apply for
strategic planning.
 Strengths – Vista is the
multinational company which is
focused on making the world free
of environmental consequences
and carbon footprints
 Weaknesses – The company has
a higher attrition rate and need to
spend more time in providing
training and development
programs to the employees as
compared to their competitors.

Conclusion
 From the above presentation it can be articulated that effective
planning support company’s in gaining positive results. If strategies
of the firm are worthwhile then it may help in increasing profitability
of the enterprise to great extent. Diversification is the great option
that may help the firm in gaining attention of mass audience and
enhancing their satisfaction level as well. Appropriate monitoring and
controlling supports business unit is identifying issues in existing plan
and entity can make necessary changes in planning so that overall
goal of the firm can be accomplished.

References
 Schiffer, M. and Walther, G., 2018. Strategic planning of electric
logistics fleet networks: A robust location-routing
approach. Omega. 80. pp.31-42.
 Floros, J.D., 2015. Academic Leadership through Strategic
Planning. Academic Leadership in Higher Education: From the Top
Down and the Bottom Up. 161.
 Ford, M.R. and Ihrke, D.M., 2019. School Board Member Strategic
Planning Prioritization And School District Performance. Leadership
and Policy in Schools. pp.1-13.
 Salas, J. and Yepes, V., 2018. Urban vulnerability assessment:
Advances from the strategic planning outlook. Journal of cleaner
production. 179. pp.544-558.