An organization should adopt planning and strategic management in order to achieve its goals and objectives. Planning is the process of setting goals, analyzing the current situation, and developing a strategy to achieve those goals. It helps an organization to anticipate change and adapt to it, as well as allocate resources effectively. On the other hand, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.
There are several reasons why an organization should adopt planning and strategic management. Firstly, it helps to align the organization's goals and objectives with its capabilities and resources. By clearly defining the goals and objectives, and understanding the resources available, an organization can better allocate its resources and ensure that it is using them effectively and efficiently. This can lead to improved performance and increased competitiveness.
Secondly, planning and strategic management can help an organization to anticipate and respond to change. By regularly reviewing the organization's goals and objectives, and analyzing the internal and external environments in which it operates, an organization can identify potential opportunities and threats, and develop strategies to take advantage of opportunities and mitigate threats. This can help the organization to remain relevant and adapt to changing market conditions.
Finally, planning and strategic management can help an organization to communicate its direction and goals to its stakeholders. By clearly defining its goals and objectives, and sharing them with employees, customers, and other stakeholders, an organization can create a sense of shared purpose and foster a culture of continuous improvement.
In conclusion, an organization should adopt planning and strategic management in order to achieve its goals and objectives, align its resources with its goals, anticipate and respond to change, and communicate its direction to its stakeholders. These practices can help an organization to improve its performance and remain competitive in a dynamic business environment.