Formal Strategic Planning in highly uncertain and dynamic environments

Essai , 2014 , 9 Pages , Note: A

Gestion d'entreprise - Direction d'entreprise, Management, Organisation

This essay will critically evaluate whether formal strategic planning is no longer an applicable approach for corporate decision-making in today's highly uncertain and dynamic business environment. In recent decades company leaders have been quite successful maneuvering their organisations through daily business and a number of economic crises by the means of formal strategic planning. Arguably, it offers several benefits on the one side, but also drawbacks on the other side. The first part of this essay will focus on the nature of formal strategic planning and its key characteristics as well as potential advantages and disadvantages. The second part will then evaluate why the formal planning approach may be perceived as not comprehensive enough in today's highly uncertain and dynamic environment, yet show how it may still be able to make crucial contributions towards sound, efficient and comprehensive corporate decision-making.

Inhaltsverzeichnis

• Introduction
• Evaluation of the formal strategic planning approach
• Strategy-making in a highly uncertain and dynamic environment
• Conclusion
• Bibliography

Zielsetzung und Themenschwerpunkte

This essay critically evaluates the applicability of formal strategic planning in today's dynamic and uncertain business environment. It examines the advantages and disadvantages of formal planning and explores alternative approaches to strategy development in a volatile context.

• The nature and characteristics of formal strategic planning
• The advantages and disadvantages of formal strategic planning
• The challenges of formal planning in a dynamic environment
• Alternative approaches to strategy development in uncertain environments
• The role of emergent strategy in adapting to change

Zusammenfassung der Kapitel

The introduction provides a brief overview of the essay's purpose and scope, outlining the key questions to be addressed. It also introduces the concept of formal strategic planning and its historical context.

The second chapter delves into the evaluation of formal strategic planning, examining its key characteristics, advantages, and disadvantages. It explores the potential limitations of formal planning in a dynamic environment, highlighting the importance of adaptability and responsiveness.

The third chapter focuses on strategy-making in a highly uncertain and dynamic environment. It presents examples of environmental changes that have impacted businesses in recent decades, emphasizing the need for flexible and emergent strategies. The chapter also discusses the role of emergent strategy in adapting to unforeseen circumstances and responding to changing market conditions.

Schlüsselwörter

The key terms and focus themes of this text include formal strategic planning, emergent strategy, dynamic environment, uncertainty, adaptability, responsiveness, and business decision-making. The essay explores the challenges of traditional planning approaches in a volatile context and examines alternative strategies for navigating uncertainty and achieving organizational success.

• Université: Edinburgh Napier University (The Business School)
• Cours: Strategic Management in a Global Context
• Note: A
• Auteur: Franz-Joseph Reisner (Auteur)
• Année de publication: 2014
• Pages: 9
• N° de catalogue: V293090
• ISBN (ebook): 9783656903680
• ISBN (Livre): 9783656903697
• Langue: anglais
• mots-clé: logical incrementalism, formal strategic planning, strategy, decisions, Strategic Management, decision-making, corporate challenges, Henry Mintzberg, uncertain business environment, advisory, management consulting