Strategic planning is important to an organization because it provides a sense of direction and outlines measurable goals. Strategic planning is a tool that is useful for guiding day-to-day decisions and also for evaluating progress and changing approaches when moving forward. Strategic thinking enables a business owner to determine how to use these resources most effectively and advance the company toward its objectives. Strategic thinking focuses the management team on markets that are most likely to succeed.
Here some benefits of strategic planning:
1. It allows organizations to be proactive rather than reactive
A strategic plan allows organizations to foresee their future and to prepare accordingly. Through strategic planning, companies can anticipate certain unfavorable scenarios before they happen and take necessary precautions to avoid them. With a strong strategic plan, organizations can be proactive rather than merely reacting to situations as they arise. Being proactive allows organizations to keep up with the ever-changing trends in the market and always stay one step ahead of the competition.
2. It sets up a sense of direction
A strategic plan helps to define the direction in which an organization must travel, and aids in establishing realistic objectives and goals that are in line with the vision and mission charted out for it. A strategic plan offers a much-needed foundation from which an organization can grow, evaluate its success, compensate its employees and establish boundaries for efficient decision-making
3. It increases operational efficiency
A strategic plan provides management the roadmap to align the organization’s functional activities to achieve set goals. It guides management discussions and decision making in determining resource and budget requirements to accomplish set objectives — thus increasing operational efficiency.
4. It helps to increase market share and profitability
Through a dedicated strategic plan, organizations can get valuable insights on market trends, consumer segments, as well as product and service offerings which may affect their success. An approach that is targeted and well-strategized to turn all sales and marketing efforts into the best possible outcomes can help to increase profitability and market share.
5. It can make a business more durable
Business is a tumultuous concept. A business may be booming one year and in debt the next. With constantly changing industries and world markets, organizations that lack a strong foundation, focus and foresight will have trouble riding the next wave. According to reports, one of every three companies that are leaders in their industry might not be there in the next five years… but the odds are in favor of those that have a strong strategic plan!
A quality management solution can be defined as the implementation of dedicated activities to obtain continuous improvement, and enhance the organization efficiency. Those activities driven by quality tools and concept such as Problem solving by using root cause analysis method, Customer satisfaction concept, Process mapping and Reduce waste and increase efficiency by implementing lean methodology.
Here some benefits of Quality Management solutions
Ensure the customer is satisfied by meeting their requirements, and will thus enhance the confidence of the customer. Attaining customer satisfaction is a great achievement for the organization that will assist in capturing the market, or increase the market share
Implementing a quality management system can assist to attain more consistency in the activities, and enhance the effectiveness by improvement in the resources and time usage.
Implementation of Best Practices & Process Improvement
The discipline of quality includes the efforts directed towards the improvement of processes, being used to maintain consistency, reduce expenditures, and ensure production within the schedule baseline.
Improved production is achieved due to proper evaluation techniques being applied, and better training of the employees. A strict process control is directed towards performance consistency, and less scrap. Supervisors experience less late night problematic phone calls, since the employees are trained and quality system in place.
Quality is measured continuously due to the appropriate procedures that ensure immediate corrective actions on occurrence of defects. Since efforts are directed towards quality products, rework due to warranty claims is minimized. This reduction increases customer confidence, and increase in business.
Increased Financial Performance
Investment in quality are rewarded by improved financial performance.
Increase Market Share
Other quality benefits include proper management of project risks and costs, and identification of development prospects. This results in an increase in market share and reputation, and capability to react to industry opportunities.
The quality emphasizes the issues related to operations management. This encourages frequent interaction between project departments or groups, and promotes harmony. All these factors contribute to improved quality, and customer satisfaction.
Using standards is powerful tools for business field can offer great results for all size of organization such as ISO 9001, CABAHI, JCIA, Academic Accreditation, and other certification.
Here some benefits of implementing standards:
Success is all about how you perform at every level of your organization. standards promote a culture of continual improvement.
Reducing business risk
Businesses today simply can’t afford to take an improvised, reactive approach to risk. Using standards can help you to identify your risks and minimize them.
Becoming more sustainable
By helping you to take a close look at how you’re using energy and resources, using our standards can save you money and improve your image while benefiting the environment.
In a global economy of rapidly emerging new technologies and markets, standards help set the rules and establish the frameworks, making it easier to innovate successfully.
Standards for services
If you’re operating in a service industry, you need to pay close attention to your processes to ensure quality doesn’t slip. A whole range of standards can help you out.
For example, ISO International Standards help businesses of any size and sector reduce costs, increase productivity and access new markets.
For small to medium sized enterprises (SMEs), standards can help to:
Excellent customer service, employee satisfaction and enthusiasm, and office organization are all desirable characteristics of a company. that’s why key performance indicators (KPIs), which are a necessary part of any business aiming for success. KPIs are used by organizations to measure, monitor and manage performance; they allow employers/employees to envision what needs to be done to improve their organization.
KPIs “represent a set of measures focusing on those aspects of organizational performance that are the most critical for the current and future success of the organization. KPIs are an invaluable form of business intelligence. When determined by an organization, they can educate every member of the company with regards to developing a strong team approach to business. Monitoring, managing and analyzing KPIs takes time and energy, so it is necessary that appropriate ones are chosen to address the specific needs of the company. dashboards are generally used to facilitate the easy monitoring of an organization’s KPIs.
Here some benefits of implementing KPIs
Regular staff training is essential in helping this ongoing skill development. This can often be a worry to business managers though, due to its ongoing cost to the business. There are a number of important reasons why ongoing staff training can be beneficial to the business and should therefore be made a priority. With a quality training plan in place, you will also see your return on investment within your balance sheet.
Here some benefits of training and staff development:
As you can see, ongoing training is important not just to employee development, but it also affects the success of your business.
Provide the foundation on which to develop an organization. The excellent model provides a collection of best management practices for each key management area (e.g. governance, leadership, planning, customers, employees, work processes, suppliers and partners, resource management, performance measurement). These practices can be implemented at any stage of an organization’s life cycle. A start- up organization can implement the best management practices right the first time while an organization that has been operating for some time can build on their strengths and capitalize on opportunities for improvement.
Here some benefits of implementing Business Excellence module:
Research indicates that organisations with a business excellence approach obtain significant benefits. This research includes that conducted in Beyond improvement in financial result, other benefits include