Management, Thought And Strategic Planning

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Management, thought and strategic planning

Introduction.

Nowadays in this competitive world where companies compete for a place in the market, it is important to implement well thought and executed strategic planning, in such a way that it achieves the objectives of the company and keep it stable in the market. This is a strategic management work which is responsible for analyzing situations in such a way that the decisions taken are assertive. In this essay we will be talking about the differences between strategic planning, strategic management and strategic thinking, in addition the benefits, criticisms and challenges of strategic planning will also be mentioned.

Developing.

Strategic management is defined as the formulation, execution and evaluation of actions that will allow an organization to achieve its objectives. Within strategic management we have strategic thinking and strategic planning. These tools are a set of analysis of situations that affect the organization seeking to formulate strategies that can eliminate any obstacle that the company is confronting and for which they are not having the expected results. It is very important that the decisions taken are correct, therefore, strategic managers must be trained and with extensive knowledge in the strategic field, so that the right decisions can be made.

Strategic planning is a means used to identify and act quickly if there is any situation in the company that is making it impossible for the success of the same. It is also the way the company has to learn from its opportunities to obtain profits, additional can incorporate behavioral forms for current and future situations. Strategic planning should be well structured if positive results are wanted, so it is important that the company perform an internal and external (SWOT) analysis (SWOT).

Strategic thinking is a particular way of solving strategic problems at the individual and institutional level combining rational and generative thinking processes. People with strategic thinking must be well analytical, have intuition, be motivating, have the ability to adapt quickly to changes. In short, strategic thinking must always look at the present with a vision towards the future. 

The differences between these three concepts is that strategic planning indicates to what place is the company and where to reach the market, strategic thinking analyzes different scenarios in order to achieve the objectives of the organization and strategic management It is the one in charge that these two concepts can be carried out in a diligent way, ensuring the control and execution of the strategies. In the end these three concepts are a single entity, since together its objective is to be able to develop and execute a plan based on strategies to find that the organization achieves its short and long term goals.

Some benefits of strategic planning that can be obtained are the development of skills and capacities to be able to meet the needs of the company in the present and future. Another benefit is to be able to include research and development in strategic planning, with the purpose of being able to work with different possibilities that you can present both in the present and in the future and know how to handle them in our favor by obtaining advantages. 

The ability to adapt to the change that will surely occur and get benefits to the new equipment or products that are incorporated through the strategic planning created for your organization and finally be able to have the cash at hand if you want if you want if you want to be replace some machinery in such a way that they do not have to depend on a bank to obtain the money and not get out of the budget assigned as stipulated in the strategic plan.

But as everything, strategic planning also has its disadvantages or criticism, due to the example its implementation can have a high cost. You can also create distrust, since the success of the same cannot be predicted. Another disadvantage is that some processes require rapid responses and these can already take strategic planning to develop plans, which are not quick to create.

As indicated by the article Introduction to Strategic Planning, by the author Jordi Albareda Bosch, so that an organization can survive in the market in the short and long term it is important that its environment be known and studied, in other words, the organization has reviewing systematic of its processes and this is obtained through strategic planning. 

Additional The success of the company depends on the decisions that can be made based on the strategic and important planning that all personnel are integrated to achieve a single and short -term unique purpose. It is very important to know their mission, vision and values ​​so that the strategies to be implemented conform to their principles and the markets that want to arrive.

On the other hand, we have the author Fernando de la Rosa with the article “Errors in strategic planning” CUAN mentions that strategic planning does not always lead to the company. In this article he mentions a series of errors that makes possible the failure of the same. First we have the analysis that is done of the environment is not in depth, only the economic and technological is studied leaving the sociopolitical out. 

The author also points out that this focuses more on the strengths, leaving the weaknesses of the company without covering. Another mistake is that with the belief that since the strategy is automatically designed it will succeed, when it is certainly not so. So that this happens must see an execution of it efficiently so that it can succeed. That is why communication between all the personnel of the organization and a manager who is supervising it is very important. Also the lack of monitoring in the improvement in the process among others makes strategic planning not the best tool for the company.

conclusion.

To conclude I can say that strategic planning in my opinion is very important to achieve the objectives of a company, as long as they are aligned with their mission, vision and values. Additionally, as mentioned in other essays, it is important that they perform a SWOT analysis, which can know their strengths, opportunities, disadvantages and threats in such a way that they can effectively work on the creation of a strategy aligned to this analysis. Additional that the decision making of a company is the basis of the strategic planning implemented therefore it must be correctly designed. Another important point is the monitoring and supervision given to it, as mentioned in this essay, it is of no use that the strategy to be implemented is well designed, if there is no good execution. They are two concepts that must go hand in to be able to have the expected success.

Bibliography.

  • ALBAREDA, J. (2003). Introduction to strategic planning. 
  • DE LA ROSA, F. (2003). Errors in strategic planning. 
  • Macek, J. (2011). Four Benefits of Strategic Planning. Corporate Report Wisconsin, 26 (12), 13.
  • Available in the ProQuest database in the Virtual Library. 
  • O’Shannasy, t. (2003). Modern Strategic Management: Balancing Strategic Thinking and Strategic Planning for Internal and External Stakeholders. Singapore Management Review, 25 (1), 53-67.
  • Available in the ProQuest database in the Virtual Library.
  • Romero, j. A. (2003). Strategic management. 
  • Stryker, c. (2012). To Succeda Plan: A Guide To Strategic Planning. Lanham, MD: Government
  • Institute/The Scarecrow Press.

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