Strategic Management: Formulation and Implementation

The Value Of Strategic Planning

When managers and organizations plan strategies they are seeking to:

- be clear about the business(es) that the organizations is in, and should be in;
- increase awareness about strengths and weaknesses;
- be able to recognize and capitalize on opportunities, and to defend against threats;
- be more effective in the allocation and use of resources.

Approaches To Corporate Strategic Planning

The strategic planning is not a single concept, procedure or tool. In this section I briefly compare and contrast six approaches to corporate strategic planning.