'New Age' strategic planning: bridging theory and practice

Article Abstract:

Strategic planning in business is evolving with the emergence of a 'New Age' form of strategic management. This method is gaining popularity due to its openness and the transfer of planning responsibility from senior managers to staff members. In addition, 'New Age' strategic planning is gaining acceptance as a result of its adoption of a holistic approach to strategy analysis. It emphasizes the importance of systems thinking in management.

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Developing strategic thinking in senior management

Article Abstract:

Senior managers are generally adept at operational decision-making but fall short in the area of strategic planning. Operational leaders deal with the management of existing resources, while strategic planners are future-oriented and focus on the achievement of growth. To develop strategic thinking ability in managers, training and an incentive system that rewards specific instances of strategic planning ability, should be initiated.

Management training

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Metastrategy: learning and avoiding past mistakes

Article Abstract:

The period between the late 1960s to the late 1990s saw the emergence of several theories or methods to strategic planning. These include theories on horizontal organizations, core competences, strategic alliances, portfolio matrix, diversification, centralized corporate strategy and global rationalization. Business strategists should strive to develop a multiface and common sense approach to strategy.

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