BHA-FPX4104 Assessment 1-Strategic Planning and Leadership

Strategic planning is identifying an organization’s strategy or direction and allocating resources to accomplish this goal.
It may also include control measures for directing the strategy’s execution.
Strategic planning may be used by any business that focuses on creating a consistent, repeatable technique with a high probability of attaining project goals.
This needs extensive thought processes and stakeholder participation. Overall, strategic planning provides a company with a structure and consistency of action.
In addition, it facilitates the communication of overarching objectives and the comprehension of teams’ or individuals’ responsibilities in achieving them.
Upper management’s commitment must be clear throughout the process to lessen opposition to change, assure acceptance, and prevent frequent pitfalls.
It is important to note that Strategic Planning does not ensure success, but it will increase the possibility that a company will be successful.