The final step in MHA624 strategic planning is the evaluation of strategies. It highlights both the efficiency and effectiveness of comprehensive plans in achieving the results that an organization desires. Fundamentally, strategic planning is an organizational activity that helps to set priorities, focus energy and resources, and ensure that employees work towards the common goals and objectives of the organization. Moreover, it involves producing fundamental decisions and actions that shape and guide an organization. It articulates where the organization is going and the actions it requires to make progress. Primarily, there are four stages of strategic planning.
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THE STEPS OF MHA624 STRATEGIC PLANNING
The first step in MHA624 strategic planning is scanning the environment. Environmental scanning involves gathering, organizing, and analyzing information. Moreover, it entails surveying and analyzing relevant data to identify threats and opportunities. In strategy formulation, an organization can begin prioritizing goals and objectives. Additionally, it should formulate individual strategies to address each of the goals and objectives. The third step is the implementation of a strategy. It involves communicating the strategy to the members of an organization. Evaluation of strategies is the final step in strategic planning. It entails setting and adjusting benchmarks to gather feedback and measure performance.
THE PROCESS OF EVALUATION OF STRATEGIES
The evaluation of strategies begins with fixing benchmarks of performance. Moreover, an organization can use both qualitative and quantitative criteria for a comprehensive assessment of performance. The measurement of performance is an essential part of MHA624 strategic planning as it helps to determine whether an organization is meeting its goals and objectives or not. Additionally, an organization should analyze the variance in performance. A negative deviation indicates a shortfall in performance therefore, the organization should address it. Furthermore, an organization needs to take corrective action to ensure that it meets its performance requirements.
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