Fail To Plan Essay

678 words - 3 pages

Management in the 21st century organisations have changed drastically from structures of organisations, how to make plans and how to make decisions, and much more. “Organisations that fail to plan are planning to fail”. From this statement it is clearly implied that organisations that are not prone in planning for their future goals and objectives are most likely to fail. It is essential to plan every step in order to avoid failure. It is important to know the purpose of plans. Plans define an organisation’s objectives or goals, determining an overall strategy to attain those goals. It also includes worst-case scenarios that may arise and how to overcome those challenges. Planning is said to ...view middle of the document...

58). Due to the strict plans the managers follow it allows minimum flexibility and make the employers prone to target fixation. ADD MORE HERE

Managers need to know about strategic management. Strategic management is the process used by managers to formulate a vision, analyse external and internal environments and what strategies to use to create value for their stakeholders, shareholders and employees. The strategies are plans on how the company will do what the its supposed to do, how they will compete successfully in the markets and interest and gratify the customers with fulfilling their goals. Strategic management is important as it can determine how well an organisation will run. Another reason why it is essential is that all type and sized organisation face changing situations, sometimes as discussed above due to uncertainty. Also because organisations are complex and diverse, strategic management allows segments of an organisation to work effectively together to attain organisational goals.

The strategic management process has six-steps that includes strategy planning, implementation and...

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