Strategic Management and Planning

3167 Words13 Pages
Strategic Planning and Management Development Throughout the business industry the people who are most associated with the business process has found strategic planning and management development "requires constant shifting back and forth between long-run and short-run thinking" (Dess and Miller, 5). Planning is a business process that involves one or more people (depending on the type business) whom decide where the business 's objectives lie and how to initially accomplish them over a period of time. Strategic management development is a business process that also involves one or more people (again depending on the type of business). This particular process essentially allows the "application of the basic planning process at the…show more content…
By taking into account the needs for thinking and planning strategically, businesses have found formulating plans and strategically applying them through the management of a business will increase one 's capability of preventing problems, making smart decisions, improving management/employee relationship, and most often help cope with change (Pearce and Robinson, 11). Another way of answering and initially describing why businesses plan is businesses want a "formal process of defining requirements for delivering high payoff results; for identifying what and how to get from our realities to future ones that add value to society at the Mega level. It is not rigid or lock-step, but rather a self-correcting set of defining requirements and relationships for stating What Is in terms of results, and moving ever closer to What Should Be results and payoffs" (Kaufman, 41). Before businesses became as complex as they are now there was little need for a business to establish organizational structure, because they were relatively simple. In business of the Twenty-First Century, most businesses are being exposed to no longer having a competitive edge. This is due to many businesses having embraced the international market for new markets and profits. Furthermore, larger companies are not the only ones being affected. Business
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