Short Answer (strategic planning) Coursework Example | Topics and Well Written Essays - 500 words

Short Answer (strategic planning) - Coursework Example It further provides a practical guide for setting goals and making decisions. During stressful times, a vision helps groups to maintain focus and stick together. A strategy is a plan of action that an organisation chooses to give it direction and scope in order for it to attain its vision or goals. Strategies deal with strategic issues by focusing on the need to come up with a new set of rules or revise an existing one; create a process that will develop a mission, vision, and goals and achieve them; produce services, products, projects and programs to be followed; offer controls for the current strategy delivery and develop future capabilities while working on relations with stakeholders. Main purpose of strategy formulation is to develop strategies that will successfully connect an organisation to its environment and help it offer solutions to the public. Secondly, to offer a plan that an organisation will follow in response to strategic issues and help it reach its vision. Planning is the process of identifying and defining an organisation’s purpose, pursuit and methods of achieving them. Implementation is putting into action and following the identified strategies so as to realize the goals and objective. This leads an entity achieve a competitive advantage and better performance. If an organisation does not allocate enough resources to execute its strategy successfully, the strategy is bound to fail irrespective of how delightful it is. These resources include time and people. Secondly, a strategy may fail because the conditions that were to be exploited change before the strategy is effective. Ignoring reality and assuming that no changes are occurring in your business environment. A third reason is an overload of information from too many policies and strategies intended to solve a specific problem. Human resources tend to run away from this information overload since it