Topic: Strategic Planning as a tool of Economic Growth (Read 98 times)

Definitely strategic planning is a vital tool in the development of a country whereas the economic growth  as well, when you talk about planning it involves decisions and processes that needs to be carried on for effective results, so it's preferable to plan other than failing to do so which will generate zero outcome, and I think when strategic planning needs to come into play it needs policy making process that requires one to make certain decisions to execute that, so with time strategic planning contribute majorly to the economic growth of a nation it just depends on the government input.

Policy formulation and strategic planning is a good strategy to achieve a certain development agenda. It allows set goals to be followed as government after government will continue to follow a certain plan to achieve an aim. But the African situation is a dicey one, as the major problem is not about economic set plans and how to achieve it, the African problem across board has always been leadership failure, so no matter how formative policies of government will be, hence there is leadership failure everything will crumble. the examples you cited using Africa has over time shown that most of the policies initiated by previous government are not always continued by the new government in place, as those previous policies are jettison creating an uncomplete circle all over again.

We Africans are the problems of ourselves and the major issue that's bedeviling our lack of strong economic growth and development is tied to the human factors. I have seen our major problem as weak institutions which have aid through corruption and mismanagement of funds and not the strategic plans itself. When we talk about formation of policies and strategic plans among other paperworks, Africans are good at it but as the saying goes, all these paperworks are beautiful nonsense since they are not translated into works and tangible projects.

Many African countries suffer from unstable political environment and institutions that makes it tedious for government to implement and sustain long-term economic plans for the country. As a result of all of these instabilities, most of these countries lack stable electricity, good roads, good health care and so on. Since most of our countries get their revenues to boost their economies from raw materials like oil.

So when there's usually gap in the position of these raw materials across the global market, it significantly affects our economic growth too. This is aside from other force majeuer which are not controllable by man.

African nations have some of the best development plans. My country has developed many strategic plans designed for economic growth and development.  But corruption has made those wonderful plans useless. For me, African leaders should focus on dismantling institutional corruption and the continent will develop naturally. Without putting an end to corruption, strategic plans will be a waste of time and resources.

While strategic planning has immense importance for economic development, it is not the ultimate instant fix. Most countries, like Niger and Senegal, are still moving ahead with the increase in their production and export, especially oil and agriculture, even as political struggles have been continuous. Be that as it may, there would be a realization that planning is not merely sufficient. Most African countries are still struggling with issues of governance, climate change, and trade imbalances-issues none of which requires just a blueprint to see changes take place. As a matter of fact, absent the resolution of such issues, the best-laid schemes can easily fall by the wayside. If strategic planning is ever to leave its dent, it must pair with great leadership, accountability, and real-time problem solving.

We invite your immediate input in strategic planning. It's an important exercise for any organization or government that would like to set clear goals and advance towards them with minimal hassle. In terms of economic development. Especially for African nations. Strategic planning can play a very significant role in 'sustainable development and even more effective resource allocation.

A political advantage of technology planning is one that comes before anything else. Having a systematic planning system assists the government in adopting informed policies that reflect objectives in the long run. This leads to more balanced and effective governance. Moreover, strategy planning results in sustainable economic growth through determining specific targets that support measuring progress. This drives the kind of strategies that are good for future generations. Integrated planning also assists with respect to setting direction and enhancing the decision-making process. It ensures that managers make timely and appropriate decisions in an increasingly competitive economic environment.

Accountability as well as it lets the leaders be proactive rather than passive. In general, it is very important for good governance and economic development that highlights the need for strategic planning. Indeed, strategic planning is a very powerful tool that leads to great political and economic success when used properly.

Strategic Planning is the process where an organization comes up with a clear cut out plan or Blueprint of goals and set visions and objectives, when to achieve them and how to go about achieving them in the future.

Strategic Planning is a vision statement of what is to be achieved in the nearest future, strategic Planning is a very important aspect of every developed economy in the world today as it helps the government to put their hands on deck to make sure that they work and deliver the goals that are being put forward within a given Time frame to be achieved.
 The fact of the matter is that if African countries are to make any meaningful economic growth and development then strategic Planning needs to be taken seriously as it Fastrack and propel leaders in critical decision making in line with the blue print that is to be achieved within a specified time.
The economic importance of strategic Planning includes

-----------Policy Formation
Strategic Planning helps the government in forming policy statement that it will use in decision making and setting goals for the economy, strategic Planning is a tool that influence policy formation of any serious economy of the world
-------- Sustainable Economic Growth
Strategic Planning helps to achieve a sustainable economic growth as it helps the government to work and fulfill set out goals leading to an economy that can be sustain based on the plans that is being used.

---------- Gives the government a Direction and quick decision making . Just to mention but a few so what do you people say about strategic Planning