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Strategic Planning:
the Key Activity
Strategic planning is the activity of defining a firm's competitive
strategy that will direct its route to competitive advantage that will determine
its performance.
Strategic planning is not only one of the most important activities facing
all companies, it is also one of the most creative and most challenging.
Strategic planning should precede and link all other planning activities
within the firm. Otherwise, the planning activities of the various functions
will not be coordinated, agreed to, or implemented.
In some corporations, strategic planning is not held in high esteem. This
is unfortunate. Given today's global, highly technological, highly competitive
environment, strategic planning is more important than ever.
It is true, however, that companies have little need for non-professional,
non-performing, bureaucratic, centralized planning staffs which do not support
the needs of the business. A bad planning staff is worse than no planning staff.
Good planning is critically important. A company without a dynamic and flexible
planning process that can appropriately evaluate and respond to the changing
environment is a company that will soon be playing the blame game.
For information on, and
access to, the
Global Industry
Dashboard
TM,
please visit
www.eCompetitors.com
which includes information
on over 9,600 Strategically Relevant Industries (SRIs)
including
FREE Competitive Intelligence reports. |
