Planning in a Post Turbulent Environment is a Waste of Time. Discuss.

325 words (1 pages) Business Question

12th Jun 2020 Business Question Reference this

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Question

Planning in a post turbulent environment is a waste of time. Discuss.

Answer

One of the most critically important aspect of operating a business environment is effective planning. Bordum (2010) highlights that he relevance of timely strategic planning cannot be undermined, as this effectively defines an organisation’s direction and long term goals in a market. While planning is important, so is the timing at which this planning is conducted. Research conducted by Knight and Marshal (2008) highlights that often organisations fail due to reactive planning, one that focuses on mitigation and not prevention. While it seems that this is the right way forward at the time, it is not a long-term solution for the business. A key mistake made by organisations across the globe is to declare an emergency based strategic shift based on a turbulent market condition, lack of business development or adverse economic situation in the industry. This approach often turns into a haphazard planning phase, one that focuses on things that have already happened and fails to develop a long term presentational and innovative path to organisational growth. While planning post turbulent environment is not a complete waste of time, having a set of objectives that are not based on the turbulent environment conditions is a viable path to follow (Worch et al, 2012). Therefore, while organisations need to always plan ahead, a reactionary planning phase due to a crisis is not the way forward.

References

Bordum, A. (2010) "The strategic balance in a change management perspective", Society and Business Review, Vol. 5 Iss: 3, pp.245 - 258 Knight,T. and Marshal,J. (2008), Change, Challenge and Strategic Leadership, 2nd ed, Pearson, Hampshire Worch, H. Kabinga, A. Eberhard,A. and Truffer, B. (2012) "Strategic renewal and the change of capabilities in utility firms", European Business Review, Vol. 24 Iss: 5, pp.444 - 464

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