blog




  • Essay / How strategic planning helps ensure the survival...

    How strategic planning helps ensure the survival and growth of an organizationFollowing the strategic planning process can go a long way in ensuring the survival and growth of an organization an organization. it seeks to eliminate an organization's weaknesses and confirm its strengths. It also analyzes the environment and other factors that may affect the smooth functioning of an organization and tries to rectify them accordingly and also give the organization a competitive advantage. Kevin Scholes and Gerry Johnson define strategic planning as "a sequence of analytical and evaluative procedures for formulating an intended strategy and the means of implementing it." In undergoing the process of strategic planning, two sub-processes come into play which are to namely BSTEP analyzes and SWOT analyses, and these two constitute strategic planning In BSTEP (Business: Socio-Cultural: Technological: Economic: Political) the management will analyze the type of business that there is, paying special attention to. its objectives and whether it is achieving them and whether its business is viable They also monitor the behavior of their competitors and compare their production standards against those of their competitors They then ensure that their standards are better than those of theirs. adversaries, which in turn ensures their survival and growth as an organization, as they will constantly keep their rivals in check. This also promotes vigilance and competition, thus pushing them to produce better products/services. BSTEP also pays attention to the socio-cultural aspect of their market which is also a key step in the growth and survival of an organization. Here, management will analyze and take into consideration the values ​​of its target market. For example, if it is a clothing company such as Levi Strauss, it will need to analyze the type of clothing allowed by the culture of its target market. If women are not allowed to wear pants, then they should focus on providing skirts or dresses. This will ensure their survival and growth as they will always supply the different markets with suitable products. It also gives the organization a competitive advantage over other organizations that are not strategically planned, as they could run the risk of delivering a product that is culturally considered indecent or unattractive to the market and possibly suffer a loss. Another consideration taken into account by BSTEP analyzes is the fact that technology is dynamic, so if an organization wants to survive and grow, it must take into account the technological changes that will take place in its areas of interest and keep up to date. current of these..