Determinants of Global Strategic Planning Formuluarity
INTRODUCTION
The topic I want to write about is based on an article which is titled the determinants and benefits of global strategic marketing planning formality.
Global strategic marketing planning formality is a process by which businesses and their subsidiaries derive the best decisions and methods so as to compete in the market it serves in.
According to Herter (1995) he proclaimed that in the global world regardless of the size, every business needs a comprehensive plan which is the first step in order to achieve success therefore a business without proper management style and planning processes will result to out dated management.
In the global world planning and strategic marketing has become very important which has initiated competition and environmental changes in international marketing.
This research article is important due to the fusion and clarification of strategic management and planning processes which has helped in aiding global strategic marketing and planning formality. With the response gotten from 90 multinational corporations it has been stated that the determinants which affect planning formality are categorized into two which are the internal and external factors. The internal factors are comprised of organizational climate, CEO’s involvement and the firm size while the external factors are comprised of environmental uncertainty and environmental complexity.
Companies which have indulged in global activities face a lot of global obstacles, companies faced obstacles during the 1960s to 1980s (McDonald, 1990, 1992; and Jessup and Kukalis, 1990). Organizations which were interested in international planning were faced with the problem of formulating not only clear planning procedures but also have to carefully examine and take records of foreign or distant market environments so as to acquire the commitment and involvement of the major stakeholders which will be affected by the planning process (Pearce et al., 1987, p. 658).
The topic I want to write about is based on an article which is titled the determinants and benefits of global strategic marketing planning formality.
Global strategic marketing planning formality is a process by which businesses and their subsidiaries derive the best decisions and methods so as to compete in the market it serves in.
According to Herter (1995) he proclaimed that in the global world regardless of the size, every business needs a comprehensive plan which is the first step in order to achieve success therefore a business without proper management style and planning processes will result to out dated management.
In the global world planning and strategic marketing has become very important which has initiated competition and environmental changes in international marketing.
This research article is important due to the fusion and clarification of strategic management and planning processes which has helped in aiding global strategic marketing and planning formality. With the response gotten from 90 multinational corporations it has been stated that the determinants which affect planning formality are categorized into two which are the internal and external factors. The internal factors are comprised of organizational climate, CEO’s involvement and the firm size while the external factors are comprised of environmental uncertainty and environmental complexity.
Companies which have indulged in global activities face a lot of global obstacles, companies faced obstacles during the 1960s to 1980s (McDonald, 1990, 1992; and Jessup and Kukalis, 1990). Organizations which were interested in international planning were faced with the problem of formulating not only clear planning procedures but also have to carefully examine and take records of foreign or distant market environments so as to acquire the commitment and involvement of the major stakeholders which will be affected by the planning process (Pearce et al., 1987, p. 658).
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