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Evaluate the finding that PM is one of the key success factors in strategic planning.
What effect do you think a) the size of the organization and b) the rate of change have on the effectiveness of performance measurement? Support your argument with evidence from the study and other real examples where possible.© BrainMass Inc. brainmass.com June 4, 2020, 1:41 am ad1c9bdddf
STRATEGIC PLANNING AND PERFORMANCE MEASUREMENT/APPRAISAL
PM as one of the key success factors in strategic planning
Strategic planning is a process of determining the current status of the company, the direction where it is headed and the strategies that it must utilize in order to get into such a direction. Basically it answers important questions regarding an organization that include: (a) where the company is, (b) where it wants to go, and (c) how it gets there.
Strategic plans that are the results of such a process are plans that apply to the whole organization and include the organization's overall goals and strategies on how the organization could position itself in the environment (Robbins and Coulter, 2005).
Among the components of strategic planning are as follows:
1. Reviewing the organization's history and current situation.
2. Reviewing and revising (or developing) the organization's mission statement.
3. Identifying the organization's opportunities and threats.
4. Identifying organizational strengths and weaknesses.
5. Setting goals to address the weaknesses and threats and take advantage of the identified strengths and opportunities
6. Evaluating, and selecting strategies
7. Reviewing, evaluating, and modifying the existing plans or designing new plans when necessary.
8. Revising and re-implementing goals when ...
The following posting discusses the key success factors in strategic planning.