Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. Strategy includes processes of formulation and implementation; strategic planning helps coordinate both. Strategic planning provides inputs for strategic thinking, which guides the actual strategy formation. The end result is the organization's strategy, including a diagnosis of the environment and competitive situation, a guiding policy on what the organization intends to accomplish, and key initiatives or action plans for achieving the guiding policy. SWOT analysis is an examination of an organizations internal strength and weaknesses, its opportunities for growth and improvement, and the threats the external environment presents to its survival. SWOT analysis views strengths as current factors that have prompted outstanding organizational performance. Weaknesses are organizational factors that will increase health care costs or reduce health care quality. SWOT analysis views opportunities as significant new business initiatives available to a health care organization.
Cite this article:
Rangappa. S. Ashi. Strategic Planning: Future of an organization-A Critical Review. Int. J. of Advances in Nur. Management. 2018; 6(1): 67-71. doi: 10.5958/2454-2652.2018.00015.X
Rangappa. S. Ashi. Strategic Planning: Future of an organization-A Critical Review. Int. J. of Advances in Nur. Management. 2018; 6(1): 67-71. doi: 10.5958/2454-2652.2018.00015.X Available on: https://ijanm.com/AbstractView.aspx?PID=2018-6-1-15