BUS 482 Chapter Notes - Chapter 3: Strategic Planning, Organizational Culture, Management System
11 May 2016
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Chapter 3 readings: 3. 1 definition and purposes of strategic planning (page 60) Strategic planning is a process that involves describing the organization"s destination, assessing barriers that stand in the way of that destination, and selecting approaches for moving forward. The main goal of strategic planning is to allocate resources in a way that provides organizations with a competitive advantage. Strategic planning allows organizations to define their identities. Strategic planning helps organization prepare for the future because it clarifies the desired destination. Strategic planning allows organizations to analyze their environment, and doing so enhances their ability to adapt to environmental changes and even anticipate future changes. Strategic planning provides organizations with focus and allows them to allocate resources to what matters most. Strategic planning can produce a culture of cooperation within the organization given that a common set of goals is created. Strategic planning can be a good corporate eye-opener because it generates new options and opportunities to be considered.
