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Limitations Of Strategic Planning

The strategic planning process aims, precisely, to formulate the strategy. That is, define it, think about where we are going and how we will get there. It is a process where the journey or the process itself is much more important than the result. Naturally, planning has its limitations; it does not always have the solution to managerial problems. Let's see some of them:

#1. Changing Environment: Forecasting is not an exact science; therefore, plans that are based on perhaps wrong predictions can fail. Unexpected incidents in government actions such as the cancellation of a contract, a change in the activities of labor unions, a decrease in economic activity, or a sudden price cut by a competitor, are unsafe factors that hinder the planning process.

#2. Internal Resistance: In several companies, the introduction of a formal planning system originates prejudices against planning that can prevent it from being effective. In larger organizations, traditional ways of doing business, rules, and old methods can be so ingrained that it will be difficult to change them. The more a company grows, the greater the number of traditional remains.

#3. Planning Is Expensive: To achieve effective planning in a medium-sized company requires a significant effort. Also, several people will have to dedicate their time to this process and will incur expenses for special studies and information. Therefore, planning is expensive, and managers must constantly make a cost/benefit ratio throughout the process. It is not possible to apply this equation quantitatively to corporate planning; however, this factor should not be forgotten as costs may be incurred more than potential benefits.

#4. Momentary Crises: Strategic planning is not designed to get a company out of the crisis. If a company is already going bankrupt, the time it would have to spend on strategic planning will be better spent solving problems in the short term. However, in case a company finds itself in a momentary crisis that it can overcome, strategic planning should be continued to avoid similar future crises.

#5. Planning Is Difficult: Planning is an activity that requires a high degree of imagination, analytical ability, creativity, and fortitude to select and commit to a certain course of action. It also involves a different type of mental process than that necessary to deal with daily operational problems. The talents required for optimal planning are generally lacking in most companies, and managers must find ways to improve their planning skills. One of these ways may be to pressure staff to meet intellectual requirements for effective strategic planning. If talents are not available and if the management does not insist on optimal planning,

#6. Plans Limit Options: Plans represent obligations, or should represent them, and therefore limit options. They tend to reduce the initiative of various alternatives that support the plans. Although it is not a serious limitation it should be noted.

#7. Imposed Limitations: In addition to the inherent limitations of strategic planning, there are imposed limitations, which must be noted. Planning systems can be ineffective in the following cases: when they are overly ritualistic and formal when online managers try to delegate their duties to staff. When managers appear to apply planning but make their decisions without consulting the plans, or when managers focus all their attention on short-term problems with no regard for the future.

These possible limitations in our Strategic Planning processes would be well worth considering.

Which Are The Planning Stages?

The planning process consists of six stages that include the following actions:

1) assess current conditions,

2) determine objectives and goals,

3) establish an action plan,

4) allocate resources,

5) execution and

6) control.

What Are The Main Components Of Strategic Planning?

1. Vision- It outlines what the organization wants to be, in the long term. It is usually emotional and inspiring.

2. Mission- It defines the fundamental purpose of the organization, describing why it exists and what it does to achieve its vision.

3. Values- Beliefs that are shared by everyone involved in the organization. They define the culture and priorities, establishing the basis for decision making.

4. Strategies- The map where the path to follow to reach the vision is marked. It is a mixture of objectives and means to achieve them.

What Are The Essential Steps Of Strategic Planning?

Strategic planning consists of four essential steps:

1. Define the mission of the organization.
2. To analyze the situation.
3. State the objectives of the organization.
4. Choose the strategies to achieve these goals.

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