Management of Organizational Strategic Plan
Background of the Study
Over the years there have been numerous articles, books, and discussions regarding the best and most appropriate strategic planning methods in business. The game theory, judo strategy, scenario planning, and balanced scorecard are effective strategic planning approaches yet would depend on the context and the nature of organization. Each approach has efficiency level, weaknesses, and strengths, but only when each strategy are being applied in its context and appropriately employ, it would maximize the potential of the approaches.
The impact of a strategic plan on organization's activities can be measure on daily, medium term and long-term scales. It provides guidance for daily decisions and helps align them with the overall strategy and with the declared goals. It will help provide a rational basis for establishing alliances with stakeholders and maximize leverage and synergy with partners.
Strategic planning processes will have to be focused on the continuous process of orientation, adaptation, and navigation in a rapidly changing environment rather than on a 'strategic plan'.
Selecting an effective strategic direction requires a thorough stakeholder analysis to best evaluate future options (Thibodeau, 2004). Furthermore, one should take into account the differences private or profit sector and public or non-profit sector. Porter's five forces model can be appropriately applied to a private sector, yet, a different version of it, the sic forces model of Oster is applicable in the non-profit sector. The stakeholder theory can be best employ in private sector than in the non-profit organization.
The use of systems theory approach to strategic planning and a framework for conceptualizing and managing the process is more effective.
Statement of the Problem
Since the issue raised in this paper is on managing organizational strategic plan being applied in different organizations, using different approaches, methods, and theories, this study seeks to ask pertinent problems to the management of organizational strategic plan.
The following are the problems in which this paper would like to answer as this work progresses.
1. What is management in relation to organization?
2. What is the importance of strategic plan in an organizational management?
3. What are effective strategic plan theories and approaches applicable to any organization?
4. How organizational strategic plan does being managed effectively?
5. How management of organizational strategic plan affects the development and growth of a corporation?
Objectives of the Study
In studying the management of organizational strategic plan, there are several objectives which are needed to be underlined in order to serve as a direction to fulfill the task of the whole work. In any kind of endeavor, objectives should be clear in order to establish a flowing research discussion.
This paper has following objectives necessary for the fulfillment of this task.
1. To understand the role of management in an organization.
2. To examine the relation between management and the organization.
3. To analyze the effects of strategic planning in managing an organization.
4. To assess the importance of managing effectively a strategic plan in an organization.
5. To evaluate the significance of management organizational strategic planning.
6. To search for a single unit of strategic planning method that can be applied to any kind of organization
In pursuing this kind of study, evaluating and analyzing the role of management organizational strategic plan, the researcher has hypothesized that the management organizational strategic plan is effective when and if appropriate theories and methods are employed in accordance to its context and type of organizational they are suitable. It is quite difficult to come up or search for a unified and standard approach for strategic planning that is applicable to any kind of organization.
Moreover, the role of management and organization are highly valuable in understanding and analyzing the strategic planning. And the effectiveness of strategic planning lies on the way management treat it and handles the course of its implementation.
Significance of the Study
The significance of this study is directly points to the development of managing organizational strategic plan. There are several studies related to this one, yet, those are more or less focused on different paths or issues pertaining to management. Moreover, more are into case studies, in order to make a particular and identified result. However, this study is taken in general context, and covered broad area of management. This is in trying to attempt to cover significant areas and elements in management that would help understanding the issue on managing strategic plan, more so, to be able to find ways in search for a unified and possible strategic planning approaches applied to any kind of organization.
Definitions of Concepts
Strategy – This refers to an operational principle in which an organization can carry and achieve the declared goals and objectives.
Management – It refers to a structure or a principle that pertains to an ability of an individual to carry out tasks of an organization in line with the goals and objectives defined.
Organization – This pertains to a group of people, employees, managers, executives that are lead to work in fulfilling and achieving a set of goals.
Strategic plan – refers to a set of guidelines in which an organization or management should observe and implement according to what is in record.
Game theory – it pertains to understanding what is called the value net of players outlined in a given strategic approach. In game theory, understanding the players is the first key element. There are at least two ends of the player spectrum: competitors and complement you receive in dealing with your competitors.
Judo strategy – the principle required the need that organization should make a conscious decision to move rapidly into new markets where there is uncontested ground.
Scenario planning – It refers to a process in which organization allows to look at various avenues in detail before choosing what appears to be the best path.
Balanced scorecard – it indicates the importance of developing a balanced strategy that includes continuous learning, partnerships, and teamwork. It helps an organization view itself globally while still seeing many of the intricate components that are required for it to be successful.
Thibodeau, B. (2004) Strategic Planning Methods: Which One is Right for your Organization? Retrieved: http://www.artsconsulting.com/pdf_arts_insights/insights_jan_2004.pdf Arts Consulting Group:
Hilburt-Davis, J. (2002). Learning from Complexity Theory: Is Strategic Planning Obsolete? Practice Papers, Family Firm Institute, Inc. retrieved: http://familybusinessconsulting.com/resources/strategic_planning.pdf,
A Framework for Managing Strategic Planning Processes. http://www.icarda.cgiar.org/Publications/PlanninginMuddyWaters/5-section3.pdf