Find a news event/article that relates to the topic of this week, which is Plann

Question

Find a news event/article that relates to the topic of this week, which is Planning and Organizational Strategy.

Criteria for the news:

From a reputable news source (print, internet, TV). Avoid blogs and personal websites.

Related to Planning and Organizational Strategy and explore a topic that interests you.

Initial Post: Your first post must be a substantive post (250 words). It must include the following:

Introduction: What is the title, source, and publication date of the news you found?

do not summarize what you read or watched; rather choose specific ideas to explore/analyze, include questions you have, offer a critique or take a particular slant on a topic, and/or start with what you learned (i.e., theory/methods/research) and connect it to your practice/work;

How does the news you found relate to this week’s topics? What connections can you draw between this week’s readings/lectures and the specific elements from the news? How, if at all, did the news help you understand a concept/idea from this week? What questions arose while you read? (Remember: This part of your post is not a summary; use your analytical skills

Explanation / Answer

Answer: The article“Five steps to a strategic plan” was published on 25th October 2011 on the Website of Forbes. This article explains the five steps that are involved in the development of a strategic plan for an organization. Strategic planning is an important function of the organizational planning and strategy process inside any organization. Strategic plans enable us to handle the problems and issues in hand in a planned and systematic manner. This article mentions that there are five steps that should be followed while preparing a strategic plan for the future direction. The first step is to determine the current position, then identify that what is important, and then define what has to be achieved, then set the accountability and finally review.

Therefore this article sheds important light on this week’s topic of planning and organizational strategy. This article explained the process that is involved in creating organizational plans and strategies which was also the topic for this week. It practically defines the various stages that are involved while the managers inside the organizations develop future plans for the organizations. This article defines the current situation analysis as the first step in the process of planning and strategy development. This was in line with what was taught to us during this week’s lectures. It also explained that why setting priorities was important for moving in the future direction. This article was very helpful for understanding this week’s concepts as it revisited these concepts from the context of real life situations.

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