Importance Of Strategic Planning
Strategic planning is important to a nonprofit organization’s future path and success. As such, it is important to understand what strategic planning is and the reason why it is so important. This information provides a concept of strategic planning and the reason why it is recommended to nonprofit organizations.
Wikipedia defines strategic planning as “an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.” Strategic planning is the formal consideration of an organization’s future course.
Strategic planning is a approach organizations should participate in on an continuous basis, in spite of the length of the plan. Some organizations participate in tactical planning, and that is generally a one year strategic plan. Tactical plans are usually created when an organization is brand new or develops a different program or service that was not included in the original strategic plan. Though some plans might be longer, it is not easy to predict possibilities, threats, and trends in the field further than three years. Whether the plan’s period is one year or longer, the important thing to bear in mind is creating a plan that strategically moves the organization in the correct direction.
Without strategic planning and also a resulting plan of action, the organization will not have a clear idea of how it is doing, why it is doing it, and where it is going. In the event that there isn’t any goals and plans in place to deal with stakeholder issues / concerns, improve programs / services, or grow the organization, it might not manage to continue meeting the needs of the very people it is intended to serve. In addition, the lack of a plan can give up public trust, end up in a loss of funding, or avoid the organization from seeking new finances opportunities and partnerships. Without planning, an organization gets stagnant.
Several providers wonder if it is possible to conduct significant strategic planning in fast reforming markets. We believe organizations may hit a balance between having an articulated vision and direction for the future and the flexibility to adapt as health care is transformed for the 21st century. We could also guide organizations establish a clear link between planning and action to make sure that the planning process ends up in true progress.