How can the strategic planning process, though unique to each organization, be standardized with common steps? What are the critical ways in which strategic planning can benefit your organization, and what are the potent

Although, strategic planning process may be unique as per the specific requirements of any organization, it does contain the steps most commonly followed by most of the organizations: Deliberating and assessing the mission of the Organisation; Developing goals based on chosen mission; Examining internal environment (strengths and weaknesses); Examine external environment (opportunities and threats); Summarizing findings of SWOT analysis; Formulating final strategy based on SWOT. Benefits of Strategic Planning for an Organisation Strategic planning can help any organization in a number of critical ways: Improved results and confidence: A proper plan may positively influence organizational performance and can contribute to a greater sense of purpose, progress and accountability among its team. Focus: Good strategic planning forces future thinking and can refocus and re-energize a disorientated organization. Problem solving: Strategic planning focuses on an organization's most critical problems, choices and opportunities. Teamwork: Strategic planning provides an excellent opportunity to build a sense of teamwork, to promote learning, and to build commitment across the organization. Communication: All stakeholders have an interest in knowing the direction in which organization is heading and also how their contribution will fit in overall plan. Greater control: Strategic planning can provide an organization greater control the environment in which it operates. Limitations of Strategic Planning Costs can outweigh benefits: Strategic planning can consume a lot of time and money. This can be wasteful if the strategic planning is not successful, more so when some of these plans have long gestation periods. Development of Poor plans: Faulty assumptions about the future, poor assessment of an organization's capabilities, poor group dynamics and information overload can lead to the development of poor plans. Implementation: If not implemented properly, whole planning exercise will go futile. Disillusionment, cynicism and feelings of powerlessness often result if people have contributed energy for development of a plan which is not implemented.