Strategic Planning and Budgeting: Organization's Continuity and Sustainability

Only available on StudyMode
  • Download(s) : 763
  • Published : May 2, 2013
Open Document
Text Preview
“Would you tell me please, which way I ought to go from here?” asked Alice. “That depends a good deal on where you want to get to” said the Cat. “I don’t much care where..” said Alice.
“Then it doesn’t matter which way you go” said the Cat.

It is the famous script from Alice in Wonderland which has been quoted in the business world as “if you do not know where you are going, any road will take you there”.

In any organization, whether it is a profit or non-profit oriented, they must know their destiny and the road that will take them there. They must know which path they have to go in order to establish their purpose of existence.

Hence, a proper planning is needed and will be a key factor to determine the successful of the organization destiny. A good planning will let the organization make an important and right decision on choosing the right path of their future direction. Remember that popular adage that sounds “Failing to Plan, Planning to Fail”?.

Both Strategic Planning and Budgeting is a planning tool to set an organization’s continuity and sustainability in their market field.

Strategic planning is a modern ways in designing an organization future direction and its sustainability. It is an integrated planning approach that considers the involvement of all units in an organization to achieve the organization’s vision and mission. It might also take into place the cooperation between one unit to another to produce a greater result of the outcomes.

A Strategic Planning for an organization by business dictionary is: “Systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them. In contrast to long-term planning (which begins with the current status and lays down a path to meet estimated future needs), strategic planning begins with the desired-end and works backward to the current status. At...
tracking img