This article throws light upon the four key benefits of strategic planning process in an organisation. The benefits are: 1. Reaction to Environment 2. Defining Company Mission 3. Formulation of Long Range Objectives 4. The Specification of Programme Policies and Strategies. Benefit # 1. Reaction to Environment: The strategic planning process is invaluable to a company because it forces top [...]
This article throws light upon the top five steps involved in the process of planning in an organisation. The steps are: 1. Establishing Goals (or Setting Objectives) 2. Determining where the Organisation or Subunit Stands Relative to the Goal 3. Developing Planning Premises 4. Choosing from Alternatives 5. Developing Methods to Control the Operation of the Plan. Step # 1. [...]
This article throws light upon the five key benefits of planning in an organisation. The benefits are: 1. Planning is related to performance 2. Plans focus attention on objectives 3. Plans help eliminate uncertainties and anticipate problems 4. Plans provide guidelines for decision making 5. Plans are necessary to facilitate control. Benefit # 1. Planning is related to performance: There [...]