Strategic Plan Evaluation (Essay Sample)

Strategic Plan Evaluation
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Strategic Plan Evaluation
Business planning is one of the key elements that each business should involve in for better production, morale of employees and to stay competitive in the face of environment. Proper strategic planning becomes a co advantage to most business that prospers even at high competitive situations with satisfaction of customers and employees job satisfaction. Repositioning of a business requires well formulated strategies that would help in re-painting of the organizations image. The strategic plans should be realistic, evaluated, related to business operation and should also be able to handle the problem at hand in addition to future related problems.
The best option of evaluating strategic plans is by reviewing the plan to help the owner know whether the plan can help achieve the set goals (Hatten, 2015). The strategic plan should be realistic and integrated, a part from just being complete (Uhl & Gollenia (Eds.), 2016). The strategic plan should also be tested to approve whether it is appropriate and required for business success. Ensuring parallel correlations between the business operations and the strategic plan is another factor that has to be considered (Afuah, 2014)). Business operations should be in line with the plan that is the strategy of the organization. Parallelism can be achieved by relating the business operations to the plans and gauging if there is a clear connection between the two. Divergence of the plan and business operation always results to poor business performance and failure.
Business performance is usually measured according to productivity and marketing. An organization is considered to be highly performing when the organization is producing more commodities and supplying a large market (Lueg & Radlach, 2016). On the other hand, a company or organization is considered as a “less performer” when it cannot compete favorably in the environment. Good performing organizations know how to manage the factors of production together with their employees through motivation. Additionally, business performance can also be measured in terms of goals and achievements. Organizations with ability to set goals and work to achieve the goals are high performers. Another way of measuring business performance is by viewing customers’ satisfaction for the goods and services produced by the organization. Hoosier Media can examine its progress towards the plans through relating the operations and the plans to clearly determine whether there is a connection between the strategic plans and the efforts stressed during operation (Koordi, 2015). The criteria for measuring business objectives is by SWOT analysis where strengths and weaknesses are observed and their effects on the business objectives (Newell, 2017). According to me, the best ways to reposition the company is through appropriate communications and use of advancement in technology as an opportunity rather than a challenge (Khanam, Siddiqui & Talib, 2016).
Precisely, when the company consider all the factors that have been highlighted, there are higher chances of repositioning and healthy business performance. Additionally, the use of current business trends in the environment can help the business to rise to power again and compete with the other organizations. Clear under