are strategic plans functional plans
Both the planand the planning process are reviewed and modified regularly(usually annually). We are discussing strategicplanning, not a strategic plan .Strategic planning is more than fillingout forms, or compiling a document.Most of the value of strategicplanning is realized during the process of planning itself. Functional business strategies are discipline-specific. Jupiterimages/Photos.com/Getty Images. Functional business strategy is an area of operational management based on a specific department or discipline within an organization, such as human resources, finance or marketing. 13◆ REV. MAY 1998 neutral party who is sometimes used to keep the discussion flowing.(“Facilitator” is a functional title, not a position, and may be some-one from outside the agency.) aaaaaaaaaaaaaaaaaaaaaaaaaaa u C OMPONENTS OF A S TRATEGIC P LAN Strategic planning asks and answers four basic questions. The plan guidesboth operational planning and budgeting and capital outlayplanning and budgeting. Strategic plans and performance resultsare regularly evaluated, and the plan is revised accordingly.Successes are celebrated and rewarded; lack of progress isanalyzed, lessons are learned, and appropriate changes made. Funding for the Planning Process. No additional funds will be pro-vided to agencies for strategic planning. Resources to undertake thestrategic planning process are to come out of an agency’s existing resources.Strategic planning is an inherent function of management that is alreadyfunded in agency resources. Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy. To say that a business has a functional level strategy for product development, for instance, means that the company has developed a strategy for selling its goods and services to customers. Functional business strategy is part of an organization's wider strategic plan. Because strategic planning is a team effort that buildsconsensus on a future direction for an agency, the process itself is moreimportant than the resulting document. Strategies are methods to achieve goals and objectives. This makes functional business strategy quite hard to implement because developing individual goals for each function won't make sense in an organization where all of the departments are more or less combined. In these cases, strategies must be fluid, adapting to the diverse skill sets and competencies of the resources. Challenges. While functional business strategy is very useful in helping an organization to value its resources, there are some disadvantages to functional strategy. For small businesses, these downsides are even more pronounced.
Yes