Importance of Strategic Planning cs final corporate restructuring notes

Posted on 03-04-2016        By ADMIN

Importance of Strategic Planning cs final corporate restructuring notes

Importance of StrategicPlanning :

? Strategic planning encourages, managers to take a holistic viewof both the business and its environment.

? The strength of strategic planning is its ability to harness aseries of objectives,

strategies,policies and actions that can work together.

? Managing a company stragegically means thinking and accordinglytaking suitableaction on multiple fronts.

? Strategic planning provides the tramework for all the majorbusiness decisions

ofan enterprise including decisions on business, products and markets,manufacturing facilities,

 investments and organisational structure.

? Strategic planning works as the path finder to various businessopportunities.

? It also serves as a corporate defence mechanism helping the firmavoid costly

mistakesin product market choices or investments.

? Strategic planning has the ultimate burden of providing acorporation wiht certain 

core competencies and competitive advantages in itsfight for survival and growth.

? It seeks to prepare the corporation to face the future.

? Its ultimate success lies in shaping it to withstand turbulencesor uncertainties.

? Thus the success of the efforts and activities of the enterprisedepends heavily

onthe quality of strategic planning i.e. the vision, insight, experience, qualityof

judgementand the perfection of methods and measures.

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