Organizational Success Factors

Abstract

Organization is place where the people come, work and earn money for them and their families. It is an obvious fact that company would be the employee more if it is having more profit or income. For this purpose it should get more success, but its success depends upon some factors, which makes its way easy. Ultimately if the internal planning and structure of the company is strong it can lead in the market, or otherwise may face unwanted situation. Every company must be dedicated with its planning, employees, vision and goals set by the companies. Also, its check and balance is very important and the company must be ready to accept any change in the management, which can bring betterment in it.

Organizational Success Factors

Strategic Planning

Strategic Planning is known as the result oriented planning. It can be explained as future oriented process evaluation, long term planning, setting organizational goals, and building strategies that provide a road map from present to a future vision, that relies on complex considerations of capabilities and environment organization, and leads to the priority based decisions and resource allocation. Strategic planning is a well disciplined effort to provide fundamental and essential actions and decisions that shape and direct what a company is, what it works, and why it does that…it evolves the strategic plan developing process. The Strategic plan is a comprehensive plan of an organization to meet its business targets and needs that are to carry on successfully on company's mission and vision. Because it is a team effort that generates consensus on its future path ways for the company, the process itself has more importance that its outcomes.

Components of Strategic Plan

There are various characteristics of the strategic plan that commonly include (Californiastate FD, 1998):

VIOS

VIOS include building Vision, Objective and Indicators. Building vision and setting objective are the fundamental part of the planning. Every company must be known with its vision that where it wants to be in next year's etc. There should be indicator, which shows its achievement indication. Organization must set the vision and goal that are reasonable and achievable.

Plan

Planning is the considered as the ruling factor, which sets the whole map for accomplishing company's goals. Action plan should be developed with the feasibility of implementation.

If you fail to plan, you plan to fail.

Performance measure

Company must track and monitor its progress in order to keep update with its performance. It can develop any growth chart or performance measure tool.

Policy Development

Policy is a set of rules or guidelines for the company that how to make decisions. Usually policies are made to guide a decision maker of government on what actions to take in particular situations to make affordable and consistent decisions. Any organization must have own policies to avoid confliction in taking decisions and dealing with others. Policies also provide certainty to the road map of the company and its steps moving towards its destiny.

By adopting policies, it can provide consistency, reliability and can support in building trust ...