STRATEGIC PLANNING THE ARTICLE ECONOMIC

This article discusses about Strategic Planning. Strategy consists of corporate strategy and business unit strategy.

• Defined strategy based on goals set by upper management (profitability, maximize shareholder value, to assess risk and many stakeholder approach).
• Companies develop strategies to match the core competencies with industry opportunities.
• Kenneth R. Andrews proposed the basic concept of strategy development with a SWOT analysis (Strength, Weakness, Opportunity & Threat). Advantages and weaknesses are evaluated based on internal conditions, in order to anticipate opportunities and threats existing in the environment.