Successful Strategic Planning for Future Vision
Added on 2019-10-30
11 Pages2796 Words195 Views
Leadership ManagementProfessional Development
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STRATEGIC THINKING, PROJECT MANAGEMENT AND THEIRIMPORTANCE TO THE STRATEGIC PLAN DEVELOPMENT ANDIMPLEMENTATION PROCESS1
ContentsSTRATEGIC THINKING, PROJECT MANAGEMENT AND THEIR IMPORTANCE TO THE STRATEGIC PLAN DEVELOPMENT AND IMPLEMENTATION PROCESS......................................1Introduction.................................................................................................................................................3Strategic Thinking........................................................................................................................................3Importance of Strategic thinking.................................................................................................................3Process of the Strategic Thinking.................................................................................................................3Role of leaders in the Strategic Thinking.....................................................................................................4Project Management...................................................................................................................................5Strategic plan development and implementation.......................................................................................6Role of strategic management.................................................................................................................6Steps in the strategic planning................................................................................................................6Attributes of the framework of good planning............................................................................................7Successful implementation of the strategic plan.........................................................................................7Conclusion...................................................................................................................................................8Bibliography...............................................................................................................................................102
IntroductionThe present global environment is very competitive. A strategy is an urgent need for all businessorganisations. The business organisation formulates strategy in order to remain as the marketleader. The need of strategic thinking has been found in the current time. Strategic thinkingrefers to a planning that is made comprehensively and that covers innovation, both strategic &operational planning. Strategic thinking is used to develop a business strategy to get success.Strategic ThinkingThe organisations have understood that the past experiences cannot always help them toformulate strategies in the present time. It is important for the management of the organisationto think considerably how to create value for the consumers. Strategic thinking deals with ‘what’& ‘why’ of the process of the planning[ CITATION Exe17 \l 16393 ]. For the successful strategicthinking innovation & creativity are required. The strategic thinking includes a research phasethat makes an assessment of the voice of the customers, employees & the best practices of theindustry. Thus it is considered as the process of the assessment of our roles, needs ofunderstanding the customers; requirements and also to ensure that all have been linked togetherfor defining strategic imperative.Importance of Strategic thinkingThe objective of strategic thinking is to prepare a strategy that will help to make a framework forthe making of decisions to direct the business & utilise the resources of the organisation. Theinternal & external data is used for the strategic thinking[ CITATION Bur03 \l 16393 ]. Strategicthinking also uses the qualitative combination of the opinion & perception. The outcome of thesuccessful strategic thinking process is a strategy.Process of the Strategic ThinkingIn the process of the research phase, three things are taken into consideration. They are thecustomer’s voice, engagement of the employee and benchmarking. In the strategic phase, theimportance is given on innovation, strategic & operational planning. The measurement of thestrategic planning is made in order to make the strategy successful[ CITATION Dal07 \l 16393 ].3
Innovation creates possibilities of meeting the needs & the expectations of the customers and theorganisation. In the process of the innovation, the requirements of the customer, organisation &the employees are incorporated. Benchmarking is also incorporated in order to ensure that thebest practices of the industry are inducted in the vision of the future.The involvement of the employees in every stage of the process of the strategic thinking isimportant. For the successful execution of the plans, the employees remain involved. Theinvolvement of the employees brings success to the operational planning[ CITATION PRO16 \l16393 ]. The strategies are formulated and developed into the action plan which is easilyachievable. This ensures that the expectations of the customers & the organisation are met.Measurement plays an important role in the strategic thinking. There is always a need forassessing the effectiveness of the on-going process. This is also important to see that the plansare implemented successfully. For the benchmarking of the original requirements against theactions that are implemented, it is important to make the measurement[ CITATION Gat10 \l 16393 ].The strategic change is implemented successfully with the complete cooperation of theemployees and the employees should incorporate the change in every step of action. The role ofthe establishment of values & principles is very important. This is required to ensure theorganisation successful and strategic goals are achieved.Role of leaders in the Strategic ThinkingThe responsibility of the leaders of the organisation is to undertake the strategic thinking in theplanning of their business. The quick decision of the leaders is always a risk and it does not havecreativity & insights. The lack of innovation makes the leader understand that the organisation isnot performing in the right way[ CITATION PRO16 \l 16393 ]. Thus strategic thinking is very muchimportant in the process of the strategic plan.The leader of the organisation focuses on strategic planning for the whole of the organisation andeven for each department of the organisation. The objective or goal of the leader is to make aplan that is beyond the thinking, plan and beyond the other forces of the competitors. The leaderworks to pursuit fulfillment. Thus the leader requires seeing something that has not beenvisioned by the other competitors of the organisation.4
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