Business Essay Example | Topics and Well Written Essays - 2000 words - 20

Business - Essay ExampleThere be various go involved in developing and implementing organizational strategies. These steps are important part of strategic training process. According to the requirements of a bon ton, strategic grooming process is developed. Based on that mean process a company is able to build strong and effective strategies. In this planning process an organization try out its external and internal environment. If the strategy fits with the companys criteria and expectations so as per the plan, strategy is implemented by the organization. In this case study the importance of strategic planning in developing organizational strategies has been critically pass judgmentd. Many explanations are reasons are provided for showing the importance of strategic planning in forming strategies.There are some negative aspects of strategic planning for which this planning process is avoided by some companies. Strategic planning process mainly relies on figures, analysis, f orecasts etc. If those data are not updated then the entire planning process and the strategy becomes wrong. Planning process of strategy consumes huge amount of time. As a will it is not always possible for companies to spend so much time in planning strategies. sometimes strategic planning process increases confusion in developing strategies (Hooley, Piercy, and Nicoulaud, 2012).But if these factors are handled tactfully then strategic planning contributes a lot in developing effective strategies. Companies get a edify idea about its strengths and weakness by conducting strategic planning process. They can utilize its strengths effectively with the assistant of good strategic which is only possible through strategic plans.Top managers and Board of Directors of a company make strategic decisions. But before forming a strategy they do different types of analysis programs to evaluate the effectiveness of the strategy.