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Critical Analysis of Strategic Management PDF - 200587

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Western Sydney University

   

200587 Strategic Management Assessment (200587)

   

Added on  2020-03-02

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200587 - The aim of the current report is to discuss various aspects of critical analysis of  strategic management that are being implemented by Curtin University as a case study organization. In an organization, strategic planning is the management activity that is adopted with the aim of setting priorities, strengthening operations, and ensuring employees and other organizational stakeholders are focused towards achieving a common goal.

Critical Analysis of Strategic Management PDF - 200587

   

Western Sydney University

   

200587 Strategic Management Assessment (200587)

   Added on 2020-03-02

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Running Head: CRITICAL ANALYSIS OF ORGANIZATION STRATEGIC PLANNINGCritical analysis of organization strategic planningNameInstitution
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STRATEGIC PLANNING2IntroductionIn an organization, strategic planning is the management activity that is adopted with the aim of setting priorities, strengthening operations, and ensuring employees and other organizational stakeholders are focused towards achieving a common goal. It hence helps in the establishment the relevant agreements between the employer and the employees on the intended results and performance outcomes (Greg &Hosie, 2014). The process thus helps in the assessment, adjustments, and evaluation of its direction in response to the ever changing businessenvironment. In a systematic study,Haines (2016) points out that it is a disciplined effort aimed at producing fundamental actions and decisions that guides and shapes what the organization does, how, and why it does it with a focus on the future achievements. This paper presents a critical analysisof the strategic planning of Curtin University as a case study organization.Critical analysis of organization strategic planningThe strategic planning and management framework of Curtin University is mainlycomposed of a critical analysis or assessment of the organization which provides anunderstanding of the organization current internal as well as external environments (Grant,2016). It also has a strategy formulation phase in which a high development strategy isdeveloped as well as a developed strategy execution plan where the former high plan istranslated into more operational and action items. Lastly, it has an evaluation of sustainmentmanagement phase is done to evaluate and monitor the progress of the organizational strategicplans.One of the most adopted or developed strategic planning document which this paper willgive a critical analysis is the Classical 4- Step strategic Approach to planning. It is a simple
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STRATEGIC PLANNING3structure which helps an organization to holistically develop and implement its plans. It iscomposed of a four main steps or approaches in which the first step involves the situationalanalysis of the organization (Wheelen& Hunger, 2017). Under this stage of development of astrategic plan, the company establishes its current reality or its present position. The assessmentshould be done honestly across all the key factors of the intended plan. Any errors resulting fromthe assessment may have significant implications in the future. The situational analysis providesan organization audit which helps in understanding the organization information concerning theorganization set up, the performance of the organization as well as the problem areas which needto examined by looking into the organization history as well as its profile, the previous andcurrent organization strategies, the financial assessment and the organization governancestructure.The second step of the approach outlines the vision or the direction of the organization.The plan outline s the mission statement of the organization as well as the purpose of theorganization, the values, behavioral standards and the strategy of the organization competitiveposition the future of the organization is not only outlined under the mission statement but alsounder the vision statement of the organization (Wolf & Floyd, 2017). This step also outlines theaims and objectives of the organization where the aims are complex and long term goals whilethe objectives may either be short term or long term development goals. This step is also verycrucial in the development of an effective strategic planning document of an organization. Itentails some of the most crucial information and if stated wrongly definitely the plans will beunachievable. The third step in this approach outlines the organization strategy development. Theorganization develops a well thought- through route map to guide it towards the future of the
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STRATEGIC PLANNING4organization. The strategy development comprises of a comprehensive detail of actions and stepsguided to help the organization to where it wants to go. It is also comprised of an introduction tothe overall planning process as well as the team involved and resources used the goals andsupporting strategies, the organization program portfolio, and implementation chronology as wellas the risk management strategies and the monitoring and evaluation framework. Therefore, thestrategy provides a pattern that blends intended responses with responses that emerge out of thechanging organizational environment.The last step of an organizational strategic planning according to this approach is themonitoring and evaluation which helps the organization to determine whether it has achieved itspurpose, goals, and objectives. The process of this step should be adopted at the start of theproject implementation to allow effective monitoring and evaluation of every step of the strategicplanning process. Effective successful monitoring and evaluation can only happen if theorganization determines the outset of relevant key performance indicators (Dibrell et al. 2014).Monitoring helps the organization to determine whether planned results have been achieved toallow the organization take corrective action. Evaluation helps the organization to assess theongoing or completed programs or designs in order to determine the relevance and fulfillment ofthe organization objectives, efficiency, effectiveness, impact as well as sustainability.A SWOT Analysis of the organizational strategic planningA SWOT analysis is a strategic management tool that is used by organizations todetermine the strengths, weaknesses, the opportunities as well as the threats likely to beexperienced in the course of implementing the designed plan. It examines the organizationalinternal strengths and weakness, its current and future opportunities for growth and improvement
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