Title: The strategic planning process: a navigational tool for competitive advantage

Authors: Nicholas O'Regan, Abby Ghobadian

Addresses: 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.

DOI: 10.1504/IJPMB.2005.006112

International Journal of Process Management and Benchmarking, 2005 Vol.1 No.1, pp.63 - 81

Available online: 05 Feb 2005

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