Why is strategic planning important to organization leadership?
In this month’s Center for Work Life vlog, Dr. Farnaz Namin explains the main components of strategic planning in correlation to leadership effectiveness.
Organizations without an evolving strategic plan stand about the same chance of success as a butterfly aiming to defeat Godzilla. Below are some factors explaining the plan’s importance.
Importance of a Strategic Plan:
- Clarifies the purpose of the business
- Strengthens a company’s competitive advantage
- Gives focus and direction to leaders and employees
- Helps staff understand organizational strategy
- Provides direction for operations
- Makes financial progress and decisions simpler
Complaining won’t yield success, lack of planning won’t yield positive results, and neither will sticking rigidly to a plan. However, well-conceptualized and flexible plans will enable success. As Jeff Bezos said “What we need to do is always lean into the future; when the world changes around you and when it changes against you – what used to be a tail wind is now a head wind – you have to lean into that and figure out what to do because complaining isn’t a strategy” (Brainy Quotes).