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Features of Strategic Planning

The following are the salient features of strategic planning:

1. Process of questioning:

It answers questions like where we are and where we want to go. What we are and what we should be.

2. Time horizon:

It aims at long-term planning, keeping in view the present and future environmental opportunities. It helps organizations analyse their strengths and weaknesses and adapt to the environment. Managers should be farsighted to make strategic planning meaningful.

3. Pervasive Process:

It is dome for all organizations, at all levels; nevertheless, it involves top executives more than middle or lower- level managers since top executives’ envision the future better than others.

4. Focus of attention:

It focuses organization’s strengths and resources on important and high- priority activities rather than routine and day-to-day activities. It reallocates resources from non-priority to priority sectors.

5. Continuous Process:

Strategic planning is a continuous process that enables organizations to adapt to the ever-changing, dynamic environment.

6. Co-ordination:

It coordinates organization’s internal environment with the external environment, financial resources with non-financial resources and short-term plans with long -term plans.

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