Revisions on Strategic Planning Modules Essay Example | Topics and Well Written Essays - 750 words

Revisions on Strategic Planning Modules - Essay Example The strategic planning and budgeting projects provided timely insights which provided the opportunity to examine and evaluate an organization in terms of how its strategic planning and budgeting process enables it to cope with diverse factors that affect its attainment of organizational goals. ((1) external environment analysis, (2) strategic issues and opportunities, (3) core values, (4) mission, (5) goals and objectives, (6) strategic and other indicators, (7) evaluation, (8) action steps, (9) revenue and costs; and (10) assessment) and SWOT analysis in providing relevant information to guide decision makers in creating the most appropriate action plan given the challenges in the environment and other factors that influence the organization’s operations. Only with a comprehensive and timely strategic plan in place can top management participate in the preparation, evaluation, and assessment of its operating budget to guide its operations in the near future. Given the aforementioned insights, the operating budget that was previously presented should be revised to incorporate the following factors: (1) tuition fee rate per school year amounts to $36, 300 for a full load undergraduate program, (2) the lessons learned on SWOT analysis of current and future conditions should focus on the impact of the global financial crisis in cost reduction thereby reducing the projected expenses more, (3) the further reduction in costs would enable the university in generating additional income from $25 million as previously projected, to $29 million – which can be utilized to address needed repairs and maintenance and salaries of personnel.