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Engaging stakeholders in the strategic planning process

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A. Identify how engaging stakeholders in the strategic planning process can help ensure it is approved, resourced, and successfully implemented. What is the difference between conducting strategic planning and having a strategic mindset?

B. Discuss the effects that technology has had on strategic planning and the strategic planning process. What are the advantages and disadvantages of having a formal strategic planning process and having a strategic mindset? How can an organization do both?

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Engaging stakeholders in the strategic planning process will ensure that the input, feedback and suggestions as well as buy-in of each stakeholder affected by the plan is secured in advance and each stakeholder is totally aware of the components of the plan. It ensures clarification of doubts and apprehensions in advance and thus, help in ensuring that the plan is approved, resources and successfully implemented. If we ignore stakeholders, their cooperation and buy-in will not be secured as they will feel ignored and thus, will not support the plan.

Strategic planning implies focusing on the organization's long-term goals, assesses its capabilities to achieve those goals, examines environmental factors that may affect the organization, and identifies strategies designed to move the organization forward. It is tool for setting priorities and making informed decisions about the future.

Strategic mindset, on the other hand, means taking actions or decisions with a longer term view. It implies making trade-offs about the future for longer term benefits of an organization.

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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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