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Evaluating and Choosing Between Strategic Plans: Key Considerations for Organizational Success

This paper provides a framework for evaluating and choosing between different strategic plans to ensure organizational success.

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    Evaluating and Choosing Between Strategic Plans: Key Considerations for Organizational Success Note: responses to classmates are in different colors; original answer is in black When facing a choice between strategic plans of similar value, how would you determine which strategic plan to incorporate? When facing a choice between strategic plans of similar value, the most fitting way to determine which strategic plan to incorporate would be to conduct a risk analysis and attribute these risks to a certain value; basically, the larger the value, the larger the risk that would be taken. In most scenarios (not all), a strategic plan that possesses a minimal amount of risk will be chosen. Investments should additionally be a factor. In this capacity, one can rank the potential strategic plans according to the amount of investment that is needed. This is a valuable technique due to the fact that companies have limited budgets and resources; as such, it is important to make a determination of whether or not the company can afford to implement a particular strategy. Often - times a company will implement a strategic plan that has a minimal amount of risks and requires the least amount of resources; this, however, is not always the best plan. Lastly, it is important that the strategic plan adheres to the company’s mission, value, and vision statements. When facing a choice between strategic plans of similar value, it is certainly difficult to make a determination of which strategic plan to incorporate. I liked the list of factors you came up with; it would certainly be helpful to consider such criteria in making such a decision when assessing a strategic plan. It seems as if many companies

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