Strategic Planning

Paper Summary:

This paper defines strategic planning and the basic premises of the concept of planning. The paper presents a review of the literature in the area, in order to study the effect of strategic planning in organizations. The study poses certain questions in the area of effectiveness of strategic planning that need to be addressed by future researchers in the field.

Contents:

Table of Contents

Summary
Thesis
Introduction
Strategic and Tactical Planning- Definition
Strategic Planning Through the Years
The Eight Maxims of Strategy
Benefits and Costs Associated with Strategic Planning
The Need for Strategic Planning
Successful Implementation of Strategies
The Effects of Strategic Planning - Literature Review
Strategic and Tactical Planning A Case Study of the Early 1990s
Strategic Planning The Present Scenario
The Conclusions, Recommendations and Areas of Future Research
References

From the Paper:

Though the concept of planning is generally known to all and sundry, it assumes confusing connotations in business parlance depending on the prefixes added to it such as long range planning, annual planning and strategic planning. Long range planning is usually associated with forecasting, annual planning with budgeting and strategic planning with the growth strategy of the organization. The term "Corporate Planning" offers yet another implication, however, it is usually an overall organizational plan including all the other plans and is mainly guided by strategic planning and strategic management principles.

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