Obstacles to Strategic Financial and Fiscal Planning
Every organization must survive in an environment full of obstacles and opportunities. Like other organizations, governments must find ways around obstacles and take advantage of opportunities that arise. Complicating the existence of government organizations is the fact that they are open systems that are affected by both external and internal forces. It is difficult to envision a government agency as a closed system. External factors include economic or political opportunities and obstacles. Internal factors relate to human resource strengths or weaknesses, or other inherent conditions of the organization. In this assignment, you will focus on internal factors that may affect the development of a successful strategic financial plan in a government organization.
To prepare for this assignment:
? Review the article “Designing the Strategic Financial Planning System,” focusing on the definition of strategic financial planning.
? Review the article “Managing for Results in State Government: Evaluating a Decade of Reform,” paying particular attention to the obstacles that may stand in the way of successful strategic financial planning for public organizations and their managers.
? Review the article “The Bottom Line and Beyond,” and consider how strategic financial planning could be implemeted in a public agency or entity.
? Review the Web site “SWOT Analysis” and the examples of internal weaknesses (obstacles) that organizations may face.
? Consider what an organization in the public sector has to do to overcome internal obstacles that may prevent successful strategic financial planning.
? Select a public organization with which you are familiar, or of which someone you know is a part, for use in this Discussion.
? Reflect on what you read about strategic financial planning and relate it to this specific organization. Speak to the person(s) you know in the organization, if it is not your own, about how internal obstacles might affect strategic financial planning in the organization, and about how these obstacles could be overcome.
With these thoughts in mind:
Write a brief description of the public organization you selected. Then post an analysis of internal factors that might impede the development of a successful financial strategic plan. In your analysis, provide specific examples of the internal factors and how they could impact the organization. Then, include your thoughts on how these obstacles might be overcome.
Be sure to support your response with specific references to the resources provided.
?SWOT Analysis (and template)