[SOLVED] Strategic Planning
Benefits and Limitations of Strategic Planning This assignment is responding to the two post below. Requirements for each response is: 1. At least one paragraph 2. Contain intext citation where appropriate 3. At least one reference per paragraph (it could be the same reference for each) Do not connect the two posts. They are completely separate. One reference for each paragraph. No introduction and no summary. ASSIGNMENT: Respond to the two post below by sharing additional insights or alternative perspectives. POST 1 Shanae RE: Discussion – Week 9 Listed below are some of the components that are vital throughout the strategic planning process. Ethical Most organizations share the goal of sound ethics and ethical culture. However, building and maintaining an ethical organization is often made more difficult because ethics management is not prioritized. A clear ethics strategy is needed to enable the organization to realize its ethical goals better (Bryson, 2018). Ideally, this strategy should include but are not limited to the following setting ethical standards, building awareness, and maintaining an ethical culture. Financial Strategic financial planning is associated with strategy and is the method chosen by management to use available resources and achieve the best results by benefiting organizations from their strengths and overcoming their weaknesses (Zomorrodian, 2017). It is characterized by the urgent and continuing need to diversify funding sources in its general budget not only to improve the level of current performance but also to the level of future performance. This is also the growing importance of developing analytical strategies and measuring deviations in performance to rationalize and improve financial decision-making processes. On the other hand, any strategic plan, whatever their ambitions and good formulation may collide with the obstacle of financial resources to be planned from the outset because the lack of funds to cover the plan’s expenses leads to a halt and perhaps failure. Culture The lack of distribution of responsibilities and powers at different levels in the organization with an organizational structure that meets the needs of strategic work is one of the most critical obstacles to the strategic plan. To be clear about responsibility, effective communication is essential. Sometimes leaders know exactly what they want, but they don’t communicate clearly what is desired. Sometimes, leaders, have a vague idea of what is wanted, and dialogue needs to be conducted with subordinates to clarify matters ( Elbanna, Andrew, Pollanen, 2016 ). Stakeholders One of the most interesting and meaningful steps in the strategic planning process is engaging stakeholders, both internal and external. The insights you gain by eliciting a range of perspectives about your organization contribute to creating a high-impact strategic plan (Elbanna, Andrew, Pollanen, 2016). Engagement can help organizations meet tactical and strategic needs ranging from improving transparency and building the trust of the individuals or groups whose support is critical to an organization’s long-term success, to sparking the innovation and organizational change needed to meet new challenges and opportunities (Bryson,2018). On the other hand, the lack of unanimity signal the absence of a strong leadership partnership. Reference Bryson, J. M. (2018). Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement (5th ed.). Hoboken, NJ: John Wiley & Sons, Inc. Elbanna, S., Andrews, R., & Pollanen, R. (2016). Strategic planning and implementation success ?in public service organizations: Evidence from Canada. Public Management ?Review, 18(7), 1017-1042. Zomorrodian, A. (2017). New Trends on Strategic Planning: Virtual Environment, Tech Innovation, Globalization & Organizational Performance POST 2 Jason Luna RE: Discussion – Week 9 Ethical Benefit An ethical benefit for Valley Water District (VWD) to a strategic plan is that it explores them to find creative ways in which it can supply its services. Ethically it keeps VWD focused on providing the best service it can, while also engaging the community and offering leadership among the valley. If the organization stays focused on the community it serves, the less likely it is to be in ethical dilemmas. Byron (2018) outlines this importance by listing, enhanced effectiveness of broader societal systems as a central benefit to strategic planning. (p.12). Ethical, strategic planning can bring forth a stronger bond between the organization and the community. Limitation A limitation to strategic planning ethically, is that the board makes the ultimate decisions of governors. Disproportionally staffed in the farmers favor, 4 of the five members operate farming and agricultural businesses. This means that they are more likely to focus on the irrigation and canal portions of the organization, more so than perhaps drinking and sanitation water. This can alienate groups within the customer base by unwittingly spending more time on things that affect them directly over the needs of the community. Financial Benefits The benefits of strategic planning financially are that it provides a playbook for how it will spend its money and what it expects to achieve with the costs of implementing such a plan. If an organization fails to produce a detailed strategic plan, they may find themselves spending money in areas that they should not have otherwise. This can be important as we move to a post-pandemic world. Limitations One limitation financially for strategic planning, as it relates to VWD, is that in this post-pandemic world, VWD may not be able to recoup from those impacted by COVID-19. Due to federal and state guidelines, utilities are not to shut-off service to non-paying customers. This financial uncertainty, and other events similar in nature, can very rarely be planned for. As such, it can be hard for an organization to adjust financially to external events without proper long-term financial stability planning. Cultural Benefits Diversity is a central component of the community that VWD serves. The Coachella Valley has a diverse population that ranges from immigrant workers to part-time winter residents, to a popular tourist destination. The community has residents from all over the United States and Canada. There are several indigenous tribes in the area as well. The Coachella Valley and VWD have a very diverse culture. This is beneficial when they collaborate to help effect policy. As Zomorrodian (2017) states, Cooperation as an important element in the strategic implementation process emphasizes partners working together as a team in a timely manner to achieve organizational goals and objectives (p.8). The more diverse the population included in the process, the more likely that diverse views and ideas will develop during the strategic planning process. Limitations For the makeup of the community, 62% of the stakeholders are Hispanic. The decision-makers at VWD have only a 20% Hispanic presence. This is disproportionate compared to the general population. A balanced organization may be better represented by staffing and leadership that matches the community trends. This would ensure that the biggest group of the community has adequate representation and Cooperation. Bryson, J. M. (2018). Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement (5th ed.). Hoboken, NJ: John Wiley & Sons, Inc. Zomorrodian, A. (2017). New Trends on Strategic Planning: Virtual Environment, Tech Innovation, Globalization & Organizational Performance Possible Resources Required Readings Bryson, J. M. (2018). Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement (5th ed.). Hoboken, NJ: John Wiley & Sons, Inc. Chapter 11, Leadership Roles in Making Strategic Planning Work (pp. 353-378) This chapter examines the importance of effective leadership within an organization. It also explores leadership roles in the strategic planning process. Zomorrodian, A. (2017). New Trends on Strategic Planning: Virtual Environment, Tech Innovation, Globalization & Organizational Performance Below is additional information. The assignment is above This is the original assignment they were completing Discussion – Week 9 COLLAPSE Benefits and Limitations of Strategic Planning Although the strategic planning process can have numerous benefits for organizations, the process also has its limitations. As organizations determine the most effective methods to accomplish their goals and measure their growth and progress, they may experience setbacks or encounter new issues that cannot be solved with strategic planning. In this Discussion, you examine ethical, financial, and cultural benefits and limitations of organizational strategic planning. By Day 3 With the organization that you selected for your Final Project in mind: Post an explanation of ethical, financial, and cultural benefits and limitations of organizational strategic planning. Include how ever-changing stakeholders might impact the strategic plan.