Strategic Planning

B. Marco
Management
2/17/03


Strategic Planning

In order to be competitive, strategic planning must be an integral part of any management team. The implementation of certain strategies helps to better prepare management for the unpredictability that is today’s market. But specifically, what are these strategies and how do they affect planning? Today’s successful managers incorporate experience, strategic and financial planning, and most importantly flexibility, into their strategic planning. Combined, these factors and their components help management better prepare for “…competition, (which) is simply too quick and unpredictable” .
One of the most important skills that a manager must possess is experience in decision-making. Since it is the job of a manager to help facilitate the development of strategies, an experienced background in dealing with last minute changes is imperative. Also, the ability to recall information quickly “… is faster tha...