Strategic Planning and Business Success by henry-9ja

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· @henry-9ja ·
$5.89
Strategic Planning and Business Success
In business, the ability to organize thoughts, ideas, insights, experiences, goals, expertise, memories, perceptions, and expectations into getting a specific action done in pursuit of a particular end is referred to as strategic planning. Strategy has been proven to be the element of several countries, states and organizations success thereby showing how important it is to in getting things done.

In modern business where technology and models are fast changing the way businesses operates with so many companies in several sectors striving so hard to be at the top, it is advisable that corporate management resort to strategic planning in other to ascertain a healthy survival and operation. Competing in an industry will not be possible if there isn’t proper strategy, the different between two firms in competition will be visible thanks to proper strategic planning.
 
Strategic planning comprises of the corporate, business, functional, and operational division of an organization.

![Strategic-Planning-768x650.jpg](https://cdn.steemitimages.com/DQmS5ZmwGCQyX4V5SXyzEAHbhpdziPvM1ZNVV8JSSwmSrkd/Strategic-Planning-768x650.jpg)
[Source](https://www.tonex.com/training-courses/strategic-planning-management-training/)




### Process of Project Planning
Since this is important for the growth of an organization, certain processes are needed to achieve the right result. This processes includes;

* Proper monitoring, evaluation and dissemination of both the organizations internal and external environmental variable. External environmental variable includes opportunities and threats faced by the organization from outside the organization. Threats facing the organization by competitors as well as opportunities the company can major upon. Internal environment variable is the internal standing of the organization which includes the organizations strength and weaknesses. 

* Formulation of plans after weighing the environmental variable looking at both the corporate strength weaknesses, threats and opportunities. This includes defining the corporate mission, objective, strategies and policies.

* Implementation of the strategies and policies as well as setting budgets for the strategic plans. Resources are allocated to the appropriate divisions in the organization on a daily basis.

* Evaluating as well as control of flaws in planning and activities in the organization. In order to get the desired result as well as know the places that needs improvements, evaluation is needed. 


<center>![20200303_173656.png](https://cdn.steemitimages.com/DQmPkG9unN1RnWVXn8PbY9Nq6HkBHCE8rYYA2NRKs8izNDi/20200303_173656.png)
[Source](https://allisonmaslan.com/company-strategic-vision/)</center>


### Why a business needs Strategic planning
•	Communication between employers and employees as well as motivation of employees
•	Helps a company understand, have a clear vision and formulate strategies in other to attain goals and objectives
•	Strengthening decision making in an organization
•	 Help organizations minimize competitive disadvantage
•	Enabling organization to be updated to changes in the business internal and external environment

### Conclusion
Strategic planning can be time consuming, money consuming as well as effort to get it done but in all it is important as increasing numbers of organizations are found in an industry. At such, an organization require strategic thinking so as to evolve and become strategically competitive with other organization. Strategic planning also keeps organizations focused on their mission, vision and objectives.
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 7 others
👎  
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vote details (72)
@crypto.piotr ·
@tipu curate
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@tipu ·
<a href="https://tipu.online/curator?crypto.piotr" target="_blank">Upvoted  &#128076;</a> (Mana: 0/20 - <a href="https://steempeak.com/steem/@tipu/tipu-curate-project-update-recharging-curation-mana" target="_blank">need recharge</a>?)
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@oluwatobiloba ·
A business that fails to plan is definitely planing to fail.
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@henry-9ja ·
Yes definitely it makes a Huge impact on the Organization level and it, Helps the both the department to grow Talent Management and Organization.
1. Analyze it
2. Plan it 
3. Implement it
4. Execute it and the results are out there
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@mojubare ·
It is unfortunate that we have so many folded up business as a result of lack of proper management.
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@henry-9ja ·
Sure most management Lack of experience, Insufficient capital (money), Poor location, Poor inventory management, Over-investment in fixed assets, Poor credit arrangements, Personal use of business funds, Unexpected growth.
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@mojubare ·
Absolutely correct.
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@awah ·
I agree strategic planning is important.  People are more energised when they understand why we are doing something and where we are trying to get to.

Thanks for sharing.
👍  
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@henry-9ja ·
@awah Careful thinking about purposes, goals, and situational requirements, example political, legal, administrative, ethical, and environmental requirements).
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@juanmolina ·
Hi appreciated @henry-9ja.

Within the strategic planning processes of any successful organization, staff training should always be included.

A constant evaluation of the skills and performance of the staff is essential. Evaluation models should be developed which will depend on the location of the workers within the organizational areas.
Once the results have been obtained, they must be analyzed and presented in a didactic way to the top management for the decision-making process.

Having knowledge of possible weaknesses in performance, management will allocate financial resources and make the necessary budgetary movements for the implementation of personnel training plans. This should be interpreted as an investment that will maintain the operational levels of the organization.

Very good article.

Your friend, Juan.
👍  
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vote details (1)
@henry-9ja ·
@juanmolona you are right why clarity of organisational goals – the managers need to clearly and organizational mission, goals, strategy and operational plans.
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@juanmolina ·
Thanks for reply.

ps: my nickname is @juanmolina.
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@project.hope ·
Resteemed already. Upvote on the way (need to recharge VP)
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@crypto.piotr ·
Dear @dhenry-9ja

Interesting choice of topic buddy. Solid introduction to strategic planning. Something that most people should learn - especially those who like to "go with the flow" (majority of population out there).

And indeed, strategic planning can be time consuming, money consuming - but only in a short term. In a long term it's allowing to cut costs and organize company better.

ps. thanks for your recent resteem. I would also like to ask you to visit project.hope community from time to time and support publications posted by other authors. Especially those posts which are resteemed on @project.hope

Upvoted already :)
Yours, Piotr
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@frederickbangs ·
Strategic and effective planing is essential for the success and growth of a business.
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@henry-9ja ·
That is right behind every success business planning is very important.
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@steemitboard ·
Congratulations @henry-9ja! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://steemitimages.com/60x70/http://steemitboard.com/@henry-9ja/commented.png?202003051333"></td><td>You got more than 10 replies. Your next target is to reach 50 replies.</td></tr>
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<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@henry-9ja) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=henry-9ja)_</sub>
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