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Does it really help defining an organization’s approach for achieving its mission and goals ?
Certainly strategic planning is key to achieve our business goals, but not necessarily by following the mission and vision. The reason for this statement is that companies evolve by natural dynamics of innovation and social change. For example, take an IT company, its mission is to provide the best internet connection service at the best fare in the market, so its vision might be, again as an example, to be the most important internet service provider in certain region or country by any specific date in the future.
Now, if you are an innovative company, in continous evolution, you might realize internet will become a social right for people, linked with the need of communication. So, if you realize your core-business ends up being free, and supported by Law; you need to evolve and use the strategy to change your mission and vision, into a new core-business so you can stay updated on the market. And a real example, well, how easy you can find a cybercafe in modern cities nowadays, compared to 20 years ago? Imagine, many cities are improving in free internet connection. Keep doing planning, because it will mean to change your mission and vision.
strategic planning and capabilities can help companies develop long-term, robust, scenario-based strategies that can help accelerate their transformation into high-performance business unit
the key aspects of strategic planning:
1-Market analysis
2-Opportunity identification
3-Strategy formulation
4-Organizational alignment
5-Financial modeling
