• Depending on the nature of plans,particularly a strategic

plan,there are some factors which are treated highly

important and are known as strategic planning.

• These consideration are as follows,

• While planning,nature of industry should be considr in
terms of its stageof lifecycle(growing,maturing,or
declining),profit potential,risk,and likely government
control/regulation.
• Degree of competition in a business sector is directly
affected by numbr of competitors,their strength and
weakness,and their competitive practices.
• There are some other factors which affect
competition:bargaining power of suppliers,bargaining
power of customers,threats os substitues products,threats
of entry of new competitors.
• Competitive advantage should be evaluated in terms of
crictical success factors.
• Crictical success factors are those factors in which
successful performance leads to development of
competitive advantage.
• These factors are in the form characteristics product
features,conditions like high investment
requirement,efforts like heavily advertising.
• Structure ad culture of an organization play its key role in
its ability to adapt and thrive under changing conditions.
• The oragnization should evaluate whether its structure
can accommadate the required changes brought by the
new plan.
• There is need for considering the strength and
weaknesses of the organization”s workforce while
formulating a plan.
• Different types of workforce response to a new initiative
differently.
• Finance is critical to organizational sustainability.

• Before selecting a new plan,the organization should

consider how much fund it has ad how much fund will be
available by the time these are needed.
• If an organization has made a forecast about future
scenerio,it must be in the planning process because
forecasting helps in reducing the risk involved in the plan
selected.
• Forecasting makes predictions by extra informaton from
variables such as previous sales data and expected
economic conditions.
• Most forecasters provide several possible scenarios for
the organization to evaluate.