Many aspects of leadership contribute to the success of an organization. One such factor is strategic planning which refers to a series of well-thought moves based on the prevailing circumstances and also involves the allocation of resources to facilitate the attainment of an organization’s goals. In other words, strategic planning is an orderly and innovative way of establishing where a business is going and how it will get there. Strategic planning also involves the formulation and execution of plans that will result in the long-term success of a business. In fact, it is argued that strategic planning entails all aspects of an organization ranging from an organization’s culture to operational issues to plans.
At the heart of strategic planning is the need to always ask pertinent questions regarding the organization’s opportunities and threats. In this regard, an organization needs to ask what are the factors that may affect it positively or negatively and what is it that it can do to mitigate the negative impacts. Therefore, organizations need to utilize their resources optimally to attain the stipulated goals. Also, the top executives need to be focused to spot the threats and opportunities and respond appropriately.
Looking at the success of Berkshire Hathaway it is indisputable that the organization employed strategic planning to spur the organization into immense success. In partic…
Free Organizational Asessment-Capacity Essay Sample, Download Now
Order Original Essay on the Similar TopicGet an original paper on the same topic
from $10 per-page