A Sample Strategic Plan gives out the outline of any business’s strategic plan. From a sample strategic plan, an organization can make its own strategic plan in accordance to its mission, its vision and its objectives. It can be applied by any enterprise. It contains the strengths, the weaknesses, threats and opportunities, vision, mission, values and objectives and also sets out proposed strategies and goals of a given organization. Business Training in Kenya has more articles.
Formulating Strategic Objectives is very essential. A Strategic Objective is an organization target in which efforts are directed within a specific time frame. It is a statement of what is to be achieved within a given time frame. It is also the desired end result towards which all activities in an organization are aimed at.
Factors to consider when Formulating Strategic Objectives
The mission of the organization should be the first factor to consider when Formulating Strategic Objectives.
The environment in which the organization operates i.e. the influence of external factors such as market conditions legislation, political and economic trends have an influence on the desired end result.
The values held by management. Management values have an important influence on Formulating Strategic Objectives.
They may value from ethical standards to the position held on social welfare that is the cooperate social responsibility.
The management experience. This relates to the management experience of a specific market that they are used to providing for.
The strong and weak points of the business. The organization plans shouldn’t be made to expose the weak points of the business but instead exploit on the strength
The cost of each alternative should be weighed against the benefits offered when Formulating Strategic Objectives.
Entrepreneurship Hindrances in Kenya affect businesses in Kenya. It affects their growth and profitability .Their ability to contribute towards development is diminished .This blog briefly discuses the challenges.
Entrepreneurship Hindrances in Kenya
The Entrepreneurship Hindrances in Kenya include the following;
- Lack of Business Training and Experience,
- Inadequate Education and Skills,
- Lack of Finance,
- National Policy and Regulatory Environment,
- Technological Change,
- Poor Infrastructure
- Scanty Markets information.
Lack of Business Training and Experience as one of the Entrepreneurship Hindrances in Kenya
Lack of Business Training and Experience is one of the Entrepreneurship Hindrances in Kenya. Many Business owners in Kenya or managers lack managerial training. Owners of businesses use a process of trial and error. This style is good for day to day operations of the business. However this does not work in the long run. This is only applicable at start up stage since a lot of creativity is needed then It cannot be applied when making complex decisions .Due to this Businesses in Kenya are not always prepared to face changes in the business environment and to plan appropriate changes in technology.
Emerging Issues concerning Human Resource in Kenya are very crucial if Human Resource Management in Kenya seeks a platform for development. Human Resource Managers have been on the forefront of providing good governance for the people, developing the country to meet the standards of other developed countries and working out ways of boosting our economy to boost development. However they are faced with many challenges that hinder the effective running of their day to day work.
Emerging Issues concerning Human Resource in Kenya
The Emerging Issues concerning Human Resource in Kenya include;
- An Increasing Pace of Change
- Changes in Perceptions
- Increase in Public Expectations
- Empowerment of Citizens
- Changing Environment
- A Changing Workforce