The culture of … Strategic Planning Failure – Mark Mendenhall, Encyclopedia of Business. Strategic planning makes organizational goals and objectives real, and employees can more readily understand the relationship between their performance, the company’s success, and compensation. Strategic planning process requires a well-structured plan for how to optimally allocate time, human capital and financial resources. Strategic planning process involves rightly defining the company’s mission and an assessment of its present position and competitive status. For all of the attention and focus placed on strategic planning and change initiatives, it’s hard to imagine that roughly 70 percent of strategic plans fail and 73 percent of change initiatives fall … By following a strategic planning … The specific characteristics of the strategic planning process determines the ability of the organization to change and to effectively address the changes in the market demand, trends, expectations, and so on. By making sound decisions based on data, no … … Organizational Culture is the commonly held attitudes, values, beliefs and behaviours of its employees. As a result, it is of critical importance for the managers and leaders of the organization to ensure that the strategic planning … Characteristics of a strategic leader include being open to change and “left-field” thoughts, because that is precisely what will give you a competitive advantage.

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