What are the primary internal organization considerations for the development of a strategic plan? Which consideration is the most important? Why? Strategic planning is the process followed by an organization in which it defines its strategies and makes plans for proper allocation of its available resources to achieve its objectives. While developing a strategic plan, it is essential to consider the various internal organizational factors in order to help the plan succeed. The internal organizational factor comprises of mission, vision, values and guiding principles, strategy and strategic objectives of the organization. Before creating any strategic plan, it is essential to know where the company is standing and where the company intends to go. The company must look at their have a look at the mission statement and the vision statement of the organization and then they must match it with the required demands and then frame the strategic plan. The mission statement depicts the purpose that an organization has and vision statement determines the future by formulating a picture of the organization. Therefore, they are the most important internal considerations for the development of a strategic plan .
What are the primary external organization considerations for the development of a strategic plan? Which consideration is the most important? Why?
For the development of a strategic plan, external considerations are important because a plan will cover the entire aspects of an organization. This includes its internal as well as external aspects. The external aspects include customers, competition, technology, supplier market and labor market. All these factors need to be given due consideration as the external environment tends to have an alarming effect on the business. A business can run smoothly only when plans are made in accordance with the different external factors. Among these factors, the most imperative factor is the customers as they...