STRATEGIC MANAGEMENT: AN INTEGRATIVE PERSPECTIVE

Planning is an elusive subject. There is no such thing as "an effective unique way to plan". Planning is a complex social activity that cannot be simply structured by rules of thumbs or quantitative procedures. The essence of planning is to organize, in a disciplined way, the major tasks that the firm has to address to maintain an operational efficiency in its existing businesses and to guide the organization into a new and better future.
An effective planning system has to deal with two relevant dimensions: responding to changes in the external environment and creatively deploying internal resources to improve the competitive position of the firm. The maintenance of a vigilant attitude toward external changes is a major driving force behind the capability shown by firms to survive in a hostile environment. The lack of alertness to changes in economic, competitive, social, political, technological, demographic, and legal factors can become extremely detrimental for the sustained growth and profitability of firms. More...