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Nature and its importance in companies

The importance of strategic planning has relevance within the administration of a companyBut you cannot think that this vague concept involves everything that has to do with this topic, which is much broader, especially when it relates to the vision mission of this planning.

For this reason, you should keep reading and realize how important it is for your company.

Discover the importance of strategic planning

  1. Know her importance of strategic planning It is essential for your company because it helps you find the right path to follow towards the objectives you have set.
  2. Planning has to do with administrative sectors of the company including control, motivation, direction and organization.
  3. All companies apply strategic plans with the aim of obtaining an evolution on the progress of their activities either every month or every three months.
  4. With planning, you trace a sure path to success in reaching goals, but also by marking the path it indicates if it is necessary to make changes so that there is a profitable one-year guarantee.
  5. When planning meets good elaboration, economic activity benefits. You should even prepare it before the opening of the company so that through this document that must have some flexibility so that it can be updated year after year you can have a certain notion of the path you chose for your company to follow.
  6. In turn, given the failure and possible closure of the company, having this document is an advantage to obtain the necessary information for the transition of ownership.
  7. As it is an important document, it must include the company’s mission statement, an executive summary, industries it serves, corporate vision, customer profiles, product descriptions, details about the competition, marketing strategy, financial information, etc. .

What is strategic planning?

  1. The strategic planning corresponds to the sector of the administration of the company. It is an organizational process whose focus is to define the company’s long-term objective.
  2. Defines the allocation of resources needed to achieve the goals.
  3. It is a customer-focused strategy and is useful for management as managers can take the necessary measures that apply to the vision of the company.
  4. In a complicated situation, it is a guide that serves to face a bad economic moment that the company is going through, but it also helps to achieve short-term objectives.

What is the importance of mission and vision in strategic planning?

  1. The importance of mission and vision in strategic planning It has to do with finding the real scenario that is expected in the future in a certain time from planning the vision of the company, for which a strategic planning is developed.
  2. The strategic vision is the one that will define what is the best result that can be achieved from planning.
  3. It allows a coherent interpretation of everything that has to do with the company and its sector in order to achieve the success it seeks.
  4. The strategic vision presents the concrete vision that analyzes the elements that intervene in the value chain and makes the result known.
  5. The other strategic vision is the abstract one that defines the elements of the value chain but with an emphasis on those with the highest value, specifying why this value is given.
  6. The strategic vision is the vision of the future with the exposure of the company and its difference with its competition and expresses what its path is, that is, where it is heading with its objectives.
  7. Regarding the strategic mission, it focuses on the employees, shareholders and leaders of the company. It is an essential exposition to expose reasons that will be fundamental for those who are in charge of the decisions of the company.
  8. It is a statement that helps employees know how to handle their tasks and make the right decisions that align with the mission of the company.
  9. Well, not all companies have the same mission, since some may have a profit-oriented objective while others have a non-profit or profit-oriented mission.
  10. From the mission statement, the company generates short and long-term objectives, for example, they may be objectives related to improving the brand or obtaining customer satisfaction for which it needs to establish strategies.
  11. Planning works as if it were a compass that provides managers with all the details including the minimums that correspond to business operations.
  12. For this reason it is important to establish the planning from the beginning and before the opening of the company, since otherwise a positive advance would be impossible when the document of the mission and vision of the company has not yet been established, since it does not s would have knowledge about which is the objective path to follow.

What is the nature of strategic planning?

To understand what is nature of strategic planning it is necessary to separate the terms.

  1. First, strategy is defined as a comprehensive plan of objectives, main actions of the company and its policies.
  2. It is the one that helps to exalt its potentialities, putting aside its weaknesses in order to make a better projection for the future and neutralize the competition.
  3. Thanks to establishing a good strategy, the company can more accurately determine its path, it also helps it to recognize its potentialities and when finding weaknesses it can compare these factors with those of its competition.
  4. It allows to focus on the competition to know how to improve the special skills of the company.
  5. Regarding strategic administration, it has to do with the transfunctional, repetitive and continuous process that allows the company to remain within its sector in an appropriate way.
  6. Strategic planning is useful to identify the most basic and complex problems of the company’s situation.
  7. It also helps to recognize which are the most appropriate strategies to deal with different situations and, once the alternative has been chosen, execute it.