In all kinds of business, strategic planning is a requisite. It serves as a direction by visualizing the future based on the current events in the market in a day to day basis. In today’s time, it helps the managers and leaders in building a company with great values and effective system. It can either be effective or a failure to a particular company depending on its application. That is why it is also important to follow the different steps thoroughly in order to attain success upon the evaluation of progress and performance. There are so many reasons why it fails.

First, there is an inconsistent focus and energy source to the entire project. Formulating a vision, mission and values is quite tiring. It can take so much energy from the group. If you don’t have a proper strategy in managing your time and energy in an effective and timely manner, there is a great tendency that you will be exhausted and drained right after the formulation and defining process. As a result, you will not have enough energy to finish the remaining task such as the implementation phase since you’ve already used up everything. Your goal might change and be directed into something else like it’s now only for the sake of finishing what has been started without making the best out of it. Do not let this kind of behavior be a habit in your planning because it will never bring anything good in your business. Always remain focus and energetic until the plan has been totally fulfilled. Never abandon the plan halfway. There must be proper allocation of resources and manpower so that everything can be done in the right time and in a proper way.

Second, there is lack of information and presence of misunderstanding. All members involved in the plan must have the same target and goals. Do not get confused with operational planning and strategic planning because there is a big difference between the two. Operational planning is more on the financial aspects. Always keep in mind that you are in a plan that involves the current events in the market while foreseeing the future changes. It is very important to have a clear communication with your staff from time to time so that every idea will be refreshed. A single error or misguidance can actually create a big impact in your entire plan so be cautious about it.

Third, lack of responsibility and sense of liability within the group. Strategic planning needs someone to rely on no matter what will be the outcome. There is a high possibility that a leader or manager and other member of the team can commit errors or mistakes along the way which can lead to failures. As a leader, it is your responsibility to take charge whenever there is something wrong with the plan. It is best to take the blame and do not be defensive while blaming other people. The current issue must be solved as soon as possible and it will only happen if there is someone who will stand and command the team. Never start a new plan without solving the previous case.

Lastly, flexibility is deficient. As a business firm or organization, it must be flexible to adopt the new changes in the market. You cannot stick to your old plan if it will not meet the demand of the public. Always be willing to change for the best. Your previous plan might be great and effective but the main concern here is the current event and changes in the market which is being influenced mainly by consumers.

Author Bio: Reba