One important point acquired from the reading of Drewniak’s (2010) paper is: strategic planning sets down the roadmap indicating the direction an organization is headed towards, and guides organizations on successfully reaching their intended destination. Strategic plans drive all organizational decision-making, right from technological capabilities and funds to staffing and other requisite resources. Aside from the many corporate analysis approaches employed under strategic planning (such as PEST (Political, Economic, Social and Technological analysis) and SWOT (Strengths, Weaknesses, Opportunities and Threats)), the fundamental one is: it deals with formal attention to a company’s future. Drewniak (2010) identifies strategic management’s chief objectives as:
1. Determining what must be done
1. Ascertaining the road to excellence
1. Ascertaining who must perform the tasks that must done
Routine issues include finance, governmental policy and directives, reforms, client satisfaction and technology. Healthcare heads must take a step back from time to time to reflect and evaluate strategic plans of firms. Indeed, modeling, strategic thinking, and evaluation are gaining significance as requisites for companies’ survival in the current tempestuous healthcare atmosphere. Strategic planning offers companies a roadmap indicating the direction they are taking and the means to reach there. It drives decisions such as capital, staff, resource...
It serves as a valuable instrument in driving everyday decisions besides appraising progress and altering strategies as one achieves progress. For capitalizing on strategic planning, organizations must carefully consider strategic aims outlined, followed by supporting those aims using practical, comprehensively studied, computable benchmarks to assess outcomes.
As pointed out by Pirraglia (2016), a strategy is equivalent to a technique. Envisaging objectives and subsequently describing approaches to adopt for accomplishing aims forms strategic planning’s real essence. Moreover, according to the author, strategy delineates action; another advantage of the strategic planning concept is, inherent action plans arising out of the identification of favored approaches. Lastly, according to Pirraglia (2016), strategic planning proves vital to corporate success. In contrast to traditional business planning, strategic planning entails mission, vision, and thinking creatively. It describes the aspirations one has for one’s firm and not necessarily the means of achieving them. But akin to physical "travel plans," ignorance of one’s destination renders coming up with arrival details a pointless activity. Strategic planning describes the place to which one is…
