HLS 6060 DF9 Initial: Strategic Planning and the Budget

Strategic Planning and the Budget
Student Name
Institutional Affiliation
Date
Strategic Planning and the Budget
Any organization‚ whether profit making organization or non- profit‚ requires an effective and strategic plan‚ and a mega-working budget. The strategic plan helps lay direction and the specific goals of an organization. It also lays special guidelines for specific actions in order to achieve the set goals (Slack, 2015). Budget is part of the strategic planning process and it looks at the money that is needed to achieve the set goals. In this essay, a detailed discussion of how planning and budgeting fit together for an organization will be given. It will be based on a previous experience.
Planning is always made for purposes of the future. It helps create awareness of how the decisions made today will affect the forthcoming opportunities (Albrechts, 2013). Goals‚ which are broad and few in number‚ provide an essential direction for the management of the organization (Bogsnes, 2016). In a non-profit organization with different programs‚ a decision will have to be made on how resources will be allocated. An Environment based organization may have different programs such as those of water quality and air quality. During budgeting and planning‚ a decision will have to be made about which program will be given the first priority. The decision that is made‚ is documented in the budget (Lee et al.‚ 2012).
Planning is only very effective when the general environment‚ economic and industrial environment is closely assessed (Johnston & Bate, 2013). However‚ when trying to work closely as per the budget‚ either th...