REGNRSG 105 Lecture Notes - Lecture 24: Coventry University, Mckinsey Quarterly, Harvard Business Review
Document Summary
Managing change and planning for the future require both vision and strategy. It would be very difficult to find a company ceo or a department manager who did not acknowledge the need for strategic planning when making major decisions about company policies or when contemplating large-scale directional change. However, the problem with strategic planning is that it is not always very effective. The reasons for this range from the fact that sometimes it is not strategic enough, or robust enough, to the use of strategies developed to meet the needs of very different industries. Reeves et al. (2012) compare the oil industry, which changes in a fairly predictable manner to the highly volatile internet software industry. They point out that very different types of strategic planning are needed in such dissimilar industries and that the mistake planners often make is to adopt strategies that are not specifically designed for their industry"s requirements.
