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Q: What are the primary internal organizational considerations for the development of a strategic plan? Which consideration is the most important? Why?
A: Structure and Culture Structure and culture play a large role in a company's ability to adapt and thrive under changing conditions. [ The feasibility of pursuing a particular strategic course of action may be affected by whether the action fits with your company culture- and whether your organizational structure can accommodate the change. For example, a company with a tall organizational
structure- with many layers of management and complex reporting relationships- may find that its structure impedes a strategic goal to improve customer service survey scores, since front-line employees must have management approval for all remedial actions. Workforce Issues You must consider the strengths and weaknesses of your workforce when crafting strategic plans. A highly skilled workforce can respond much differently than an unskilled workforce in the same change scenario, and a mixed workforce will respond in a different manner as well. Employee loyalty and company politics play a large role in how adaptable your workforce is to specific changes. A workforce with a good track record of creativity and innovation is well suited to identify with, and take charge of, new strategic initiatives. Competitive Advantages Every successful company needs a competitive advantage- something that it can do better than other players in the industry. Competitive advantages can take a number of forms. Patents, processes, technologies, locations, key partnerships and exclusive contracts are just a few. Identify your competitive strengths and make plans to leverage them to achieve strategic goals. Use competitive advantages as a starting point when identifying strategic opportunities. Financial Considerations Finances are critical to organizational sustainability. Before engaging in strategic planning, consider how much cash you have on hand, how much credit you have available and how much debt you already have. Set strategic goals that are within your budget in order to increase the chance that your goals will be realized. ]
Expert answered|Sansunr|Points 20|
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Asked 10/12/2012 5:51:00 PM
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