edf40wrjww2CF_PaperMaster:Desc
INTRODUCTION
Fail to plan is a plan to fail. We always read or heard this statement either in books, articles, billboards or while attending any forums or seminars. Why planning plays a vital role before executing any projects? Why do we need to plan? The popularity of strategic planning continues even though the link between its use and organizational performance has yet to show consistent signs of significance1. The logical explanation behind it is lack of understanding of the important factors that may cause modifications in the planning systems itself. Normally, managers are given a standard strategic planning “package” and are asked to implement it.
What will be the impact to a company if the strategist of that company forget to plan or to be precise do what we call a strategic planning? Perhaps they think that planning is not important in running their business? Among the reasons for poor or no strategic planning are as follows2:-
- poor reward structures
- fire fighting
- waste of time
- too expensive
- laziness
- content with success
- fear of failure
- overconfidence
- prior bad experience
- self-interest
- fear of unknown
- honest difference of op ...