Most companies today including most successful Indian companies like Bajaj Auto, Reliance and ITC have embraced strategic planning fully in their quest for higher revenues and profits.
companies today including most successful Indian companies like Bajaj Auto,
Reliance and ITC have embraced strategic planning
fully in their quest for higher revenues and profits. In this process, there
identify multiple strategies that they can adopt.
Strategic alternatives revolve around the question
of whether to continue or change the business an enterprise is currently in or
improve the efficiency and effectiveness of its current and future operations.
Then, how do these companies make the choices? What factors influence their
Kent Nelson, former chair of UPS, explains why his
company has created a new strategic planning department: “Because we’re making
bigger bets on investment in technology, we can’t afford to spend a whole lot
of money in one direction and then find out five years later it was the wrong
always arrives. It is always different. And even the mightiest company is in
trouble if it has not worked on the future. Being surprised by what happens is
a risk that even the largest and richest company cannot afford, and even the
smallest business need not run. Peter Drucker DRUCKER
Tags : Strategic Management - Strategy Formulation
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