Ask Business Management Expert

Respond to discussion-

Globalization can be defined as the broadening and deepening linkages of nation economies to a worldwide market or goals, serves and capital (Ohiorhenuan, 1998). In other words, globalization represent the integration of the world economies driven primarily rapid transformation in the technological and information flow across countries. Globalization is a continuous process. For example information and technological innovation and globalization processes have a direct impact on both private and governmental institutions. The impact of globalization means therefore that corporate planners need to continuously revise short and long term strategic goals in order to effectively respond to the rapid changes.

Globalization phenomenon resulted in the reengineering of national policies in most African countries to respond to the resulting opportunities and threats. As a result strategic planning by institution must cope with the impact of globalization and be designed in a way that the total resources of institution are utilized for the achievement of quantified objectives within a specific period of time and with a long term vision.Bryson (2011) outlines the challenges and successes of an effective strategic planning in the three examples of MetroGIS, The Loft Literary Center and The Minneapolis Park and Recreational Board. In response to policies changes, institutions need to restructure internally, realigned business processes and improve technological positioning to achieve competitive advantage.
According to Taylor (1982), top management of the organisation is responsible for selecting the most appropriate strategies from alternative. Burnet etal. (1991) contends that long range planning is one of the most creative aspect of management and it is easy to see why it gives management such a tremendous advantage in competition.

Bryson (2004) notes that ‘Strategic planning is not any one thing but is instead an adaptable set of concepts, procedures, tools, and practices intended to help people and organizations figure out what they should be doing, how, and why'. This emphasizes the need for collaboration coordination and cooperation in the strategic planning process. A collaborated, coordinated and cooperative approach to strategic planning involve consultations internally and externally with key stakeholders that promote a participatory process. A collaborative approach also allows for implementation to realize the organisational mission, goals, strategies and continuous organisational learning that will create a ‘feed-forward and feedback loops between planning and implementation' (Crossan, White, and Lane 1999; Poister and Streib 1999).

The need for greater inclusive approach to strategic planning has been attributed to a number of factors including the fact multi-sectorial challenges require multi-organisational and cross-sector responses (Crosby and Bryson 2005), recognition that relevant expertise, perspectives, and local knowledge are distributed unevenly among many different kinds of people (Innes and Booher 2010),and recognition that large and diverse group of people can produce better judgements, coordination and collaboration than small groups(Ball 2005; Surowiecki 2004).

References-

Bryson, J. M. (2011). Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement (4th ed.). San Francisco, CA: Jossey-Bass.

Brugha, R., & Varvasovszky, Z. (2000). Stakeholder analysis: A review. Health Policy and Planning, 15(3), 239-246.

Burnett, C.D etal (1991), "challenges for corporate planners "in corporate planning and management control, Asil-K and Kumar. Prem (editors), Anmol publication, New Delhi, India

Dewhurst, S., & FitzPatrick, L. (2005). Turning stakeholders into advocates. Strategic Communication Management, 9(6), 6-7.

Ohiorhenuan, John FE. (1998), The South in the Era of Globalisation, Cooperation South, UNDP, New York. No.2.

Taylor B (1982), corporate strategy and planning, Taylor B and Sparks, J.R (Edit), Heinemann. London.

The Best Picks of AI Tools. (n.d.). Retrieved January 20, 2015, from http://appreciativeinquiry.case.edu/practice/toolsPack.cfm

Laureate Education (Producer). (2008c). Buy-in and commitment [Video file]. Baltimore, MD: Author.

Gousseau, K. (2008, July 22). Seniors key concern in strategic planning: Stakeholder meeting in city Thursday. Alaska Highway News, A.1.

Parent, M. M., & Deephouse, D. L. (2007). A case study of stakeholder identification and prioritization by managers. Journal of Business Ethics, 75(1), 1-23.

Sakellariadi, A. (2013). Strategic participatory planning in archaeological management in Greece: The Philippi management plan for nomination to Unesco's world heritage list. Conservation and Management of Archaeological Sites, 15(1), 13-29.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M91641531
  • Price:- $25

Priced at Now at $25, Verified Solution

Have any Question?


Related Questions in Business Management

Name a company that addressed a recent ethical problem in a

Name a company that addressed a recent ethical problem in a positive way. Also, explain how or if this positively affects us as a community?

When it is appropriate to use the trade-off process what

When it is appropriate to use the trade-off process. What conditions apply, and the technical evaluation criteria that might be used?

Need help with a essay with the following phrase for

Need help with a essay with the following phrase for analyzing : " Capitalism is at the heart of how people and organisations are managed in contemporary society" May i ask for a better explanation of the question? Also ...

How could these three tenets of the auburn creed be used to

How could these three tenets of the Auburn Creed be used to motivate others: "I believe that this is a practical word and that I can count only on what I earn. Therefore, I believe in work, hard work." "I believe in educ ...

How can these two tenets of the auburn creed by used in

How can these two tenets of the Auburn Creed by used in addressing teamwork issues: "I believe in honesty and truthfulness, without which I cannot win the respect and confidence of my fellow men." "I believe in the human ...

Discuss the advantages of having and interacting in a

Discuss the advantages of having and interacting in a diverse workplace. Consider the wide range of ideas and perspectives that a range of team members bring to a team, that are of differing ages, ethnic backgrounds and ...

Parmigiano-reggiano global recognition of geographical

Parmigiano-Reggiano: Global Recognition of Geographical Indications What historical factors have helped support the consortium's claims for the geographic specificity of Parmigiano-Reggiano and Parmesan? What are the eco ...

Communication planthis communication plan will be a roadmap

Communication Plan This communication plan will be a roadmap on how the new division will best be able to communicate with Biotech's corporate headquarters, suppliers, other divisions, and internally. This should lay out ...

Discuss strategies to obtain feedback from a customer and

Discuss strategies to obtain feedback from a customer and clients when working in sales.

Describe different networking methods and the advantages

Describe different networking methods and the advantages and disadvantages of them?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As