Title: The strategic planning process: a navigational tool for competitive advantage
Author: Nicholas O'Regan, Abby Ghobadian
Centre for Interdisciplinary Strategic Management Research, Middlesex University Business School, The Burroughs, London NW4 4BT, UK.
Centre for Interdisciplinary Strategic Management Research, Middlesex University Business School, The Burroughs, London NW4 4BT, UK
Abstract: In today's turbulent environment, managers increasingly need reliable navigational tools to achieve competitive advantage. Many academics and practitioners consider strategic planning to be such a tool. This view is supported by empirical evidence that shows a close correlation between well-developed strategic plans and superior performance. However, to-date there is no consensus on what ''strategic planning'' is and what its main characteristics are. This has resulted in a degree of confusion leading to some doubts on the value of the strategic planning process. This paper identifies the key factors and sub-factors in the strategic planning process.
Keywords: strategic planning; competitive advantage; management tools; decision making.
Int. J. of Process Management and Benchmarking, 2005 Vol.1, No.1, pp.63 - 81
Available online: 05 Feb 2005