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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.

Sarah Robinson
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Evaluating and Choosing Between Strategic Plans: Key Considerationsfor Organizational SuccessNote: responses to classmates are in different colors; original answer is in blackWhen facing a choice between strategic plans of similar value, how would youdetermine which strategic plan to incorporate?When facing a choice between strategic plans of similar value, the most fittingway to determine which strategic plan to incorporate would be to conduct a risk analysisand attribute these risks to a certain value; basically, the larger the value, the larger therisk that would be taken. In most scenarios (not all), a strategic plan that possesses aminimal amount of risk will be chosen. Investments should additionally be a factor. Inthis capacity, one can rank the potential strategic plans according to the amount ofinvestment that is needed. This is a valuable technique due to the fact that companieshave limited budgets and resources; as such, it is important to make a determination ofwhether or not the company can afford to implement a particular strategy. Often-times acompany will implement a strategic plan that has a minimal amount of risks and requiresthe least amount of resources; this, however, is not always the best plan.Lastly, it isimportant that the strategic plan adheres to the company’s mission, value, and visionstatements.When facing a choice between strategic plans of similar value, it is certainlydifficult to make a determination of which strategic plan to incorporate. I liked the list offactors you came up with; it would certainly be helpful to consider such criteria inmaking such a decision when assessing a strategic plan. It seems as if many companies

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Business Management

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