Limitations Of Strategic Planning

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Limitations of Strategic Planning

1. Lack of knowledge:

Strategic planning requires lot of knowledge, training and experience. Managers should have high conceptual skills and abilities to make strategic plans. If they do not have the knowledge and skill to prelate strategic plans, the desired results will not be achieved. This limitation can be overcome by training managers to make strategic plans.

2. Interdependence of units:

If business units at different levels (corporate level, business level and functional level) are not integrates and coordinated, it can create problems for effective implementation of strategic plans.

3. Managerial Perception:

In order to avoid developing risky objectives and strategies which they will not be able to achieve, managers may land up framing sub-optimal goals and plans. Sometimes, short-term commitments also defer making on-term strategies.

4. Financial considerations:

Strategic planning requires huge amount of time, money and energy. Mangers many be constrained by this consideration in making effective   strategic plans.

These limitations are and large, conceptual and can be overcome through rational, systematic and scientific planning. Researches have proves that companies which make strategic plans outperform those which do not do so.

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