Despite the Potential Advantages of Formal Strategic Planning Approaches
Discuss the proposition that despite the potential advantages of formal strategic planning approaches, it is of limited benefit to organisations operating in uncertain and dynamic environments.
About this discussion, I would like to introduce two steps. First step, I want to introduce the potential advantages of formal strategic planning approaches. Then I will introduce the second step: some important reasons about the formal strategic planning is of limited benefit to organisations operating in uncertain and dynamic environments. Finally, the main purpose of this paper is to prove the formal strategic planning is of limited benefit to organisations operating in uncertain and dynamic environments. My conclusion will emphasize it again. First, how should we understand the formal strategic planning? The objective of the formal strategic planning is to convey that a company’s strategic planning process includes specific systematic procedures used to gain the involvement and commitment of those principal stakeholders affected by the plan (J. Richard Falshaw, Keith W. Glaister, Ekrem Tatoglu, 2006). What is the purpose of strategic planning? Generally, formal Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to carry on this strategy. In order to determine the direction of the organization, it is necessary to know its current position and the possible ways through which it can pursue a particular course of action strategic planning do with at least one of three key questions: "What do we do?" "For whom do we do it?" and "How do we excel?” (J. Scott Armstrong, 1986)
OK, I have a simple introduction about the character and purpose of formal strategic planning. Then we must make clear about the structure about formal strategic planning approaches. There is common view about strategic planning researchers that the strategic planning process consists of three major parts:
About this discussion, I would like to introduce two steps. First step, I want to introduce the potential advantages of formal strategic planning approaches. Then I will introduce the second step: some important reasons about the formal strategic planning is of limited benefit to organisations operating in uncertain and dynamic environments. Finally, the main purpose of this paper is to prove the formal strategic planning is of limited benefit to organisations operating in uncertain and dynamic environments. My conclusion will emphasize it again. First, how should we understand the formal strategic planning? The objective of the formal strategic planning is to convey that a company’s strategic planning process includes specific systematic procedures used to gain the involvement and commitment of those principal stakeholders affected by the plan (J. Richard Falshaw, Keith W. Glaister, Ekrem Tatoglu, 2006). What is the purpose of strategic planning? Generally, formal Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to carry on this strategy. In order to determine the direction of the organization, it is necessary to know its current position and the possible ways through which it can pursue a particular course of action strategic planning do with at least one of three key questions: "What do we do?" "For whom do we do it?" and "How do we excel?” (J. Scott Armstrong, 1986)
OK, I have a simple introduction about the character and purpose of formal strategic planning. Then we must make clear about the structure about formal strategic planning approaches. There is common view about strategic planning researchers that the strategic planning process consists of three major parts:
References: J. Richard Falshaw, Keith W. Glaister, Ekrem Tatoglu, “ Evidence on formal strategic planning and company performance" (2006) Management Decision, Vol. 44 Iss: 1 pp. 9 – 30 Hugh G Keith W. Glaister, Omer Dincer, Ekrem Tatoglu, Mehmet Demirbag, Selim Zaim, (2008),"A causal analysis of formal strategic planning and firm performance: Evidence from an emerging country", Management Decision, Vol. 46 Iss: 3 pp. 365 -391 Robert M Selsky et al., 2007.Contrasting Perspectives on Strategy Making in Hyper Environments.Organization Studies, 28(1), pp. 71-94. J Harrington, D., Lawton, T. &Rajwani, T. 2005.Embracing and Exploiting Industry Turbulence: The Strategic Transformation of Aer Lingus. European Management Journal, 23(4), pp. 450–457. Bibliography Johnson G, Scholes K, Whittington R, Exploring Corporate Strategy 8th Edition, 2008 - Chapter 2 Campbell D, Edgar D, Stonehouse G, Business Strategy 3rd Edition, 2011, Palgrave – Ch 3