Reply to the following using at least 175 words per reply. Be constructive and professional in your response. Be sure to use FULL APA references and in-text citations.
1. An important plan that works with the strategic plan is the financial plan. Finance plays a very important role in assessing an organization’s performance including its resources. Some financial goals and metrics that are important to organizations are:
Free cash flow
Profitability ratios
Asset management
Growth indicies
Choose one of the metrics above and discuss. How does it affect the strategic plan?
Reference
Kono, P.M. & Barnes, B. (2010). The role of finance in the strategic-planning and decision-making process. https://gbr.pepperdine.edu/2010/08/the-role-of-finance-in-the-strategic-planning-and-decision-making-process/
2. This week we are talking about the key elements needed to support strategic planning, so I think it is a great idea if we refresh our minds about what a strategic plan is.
Watch the video below and discuss what a strategic plan is, and why it is so important.
