¶ … array of reasons why corporations need to invest in IT. First, the dynamic economic environments in which businesses operate today "have helped create a challenging business environment and an 'economic imperative' for information technology" (Bakos & Treacy, 1986). Secondly, technology increases a corporation's capability, while significantly reducing costs (Bakos & Treacy, 1986). Third, the fact that the technology-utilization abilities of businesses are improving due to globalization necessitates a corporation's investment in information technology (Bakos & Treacy, 1986).
Strategic planning is crucial to the success of any organization because i) it enables organizations to respond to the dynamic business environment by providing platforms through which adjustments regarding organizational directions can be made (ASCO, 2009); ii) it instills a sense of direction within the organization and contributes towards the creation of milieu whereby employees aim their focus on a common goal (ASCO, 2009); iii) it is promotional to the creative and open "exchange of ideas, including putting disagreements on the table and working out effective solutions" (ASCO, 2009).
Strategic planning only becomes effective once the adopted business strategies are implemented (ASCO, 2009). Regardless of how well a strategic plan is conceived by management, it would remain ineffective as long as the rest of the organization misinterprets or blocks it. An organizational unit that is in need of strategic planning would be characterized by; a diminishing interest of workers and failure to respond to its intended purpose, loss of community interest and finances (and a preference for the status-quo), members leaving to join other organizations within the same line, and high levels of uncertainties regarding the future (ASCO, 2009).
The effectiveness of strategic planning is based upon a three-stage process; the identification of core processes, the establishment of appropriate measures, and the establishment of accountability for changes (Cascella, 2002). Processes are the...
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