Strategic planning is formal process

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Strategic planning is a formal process in which an organization sets its business goals and business objectives which has to be accomplished in the coming years. Effective strategic objectives make an organization run effectively. Few of the strategies which can be followed to make it effective are;

1. Making decision on the maximum use of available resources will ensure maximum output.

2. Effective strategic objectives must be very specific so that it is clearly understood and steps towards the goal will be easily accomplished.

3. Short term and long term goals should be clearly defined.

4. More concentration should be given on the internal process which can be easily obtained compared to external elements.

5. A risk assessment process from the very beginning is important so that the goals can be analyzed with its possible risks and precautions can be taken in advance

6. Motivation on the part of leadership can be done through which the employees remain committed and loyal to the organization.

7. Researching marketing trends and customer needs and goals set accordingly will make an effective strategic objective.

You have provided a great list that can be used in the development of strategic planning. Out of your list which one might you say is the most important in your opinion that would benefit your company? Why?

Reference no: EM132298275

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