The strategic planning process: A navigational tool for competitive advantage

O'Regan, Nicholas; Ghobadian, Abby

Abstract

In today's turbulent environment, managers increasingly need reliable navigational tools to achieve competitive advantage. Many academics and practitioners consider strategic planning to be such a tool. This view is supported by empirical evidence that shows a close correlation between well-developed strategic plans and superior performance. However, to-date there is no consensus on what 'strategic planning' is and what its main characteristics are? This has resulted in a degree of confusion leading to some doubts on the value of the strategic planning process. This paper identifies the key factors and sub-factors in the strategic planning process. Copyright © 2005 Inderscience Enterprises Ltd.

Citation

O'Regan, N., & Ghobadian, A. (2005). The strategic planning process: A navigational tool for competitive advantage. International Journal of Process Management and Benchmarking, 1(1), 63-81. https://doi.org/10.1504/IJPMB.2005.006112

• Journal Article Type: Article
• Publication Date: Dec 1, 2005
• Journal: International Journal of Process Management and Benchmarking
• Print ISSN: 1460-6739
• Electronic ISSN: 1741-816X
• Publisher: Inderscience
• Peer Reviewed: Peer Reviewed
• Volume: 1
• Issue: 1
• Pages: 63-81
• DOI: https://doi.org/10.1504/IJPMB.2005.006112
• Keywords: strategic planning, competitive advantage, management tools, decision making
• Public URL: https://uwe-repository.worktribe.com/output/1055651
• Publisher URL: http://dx.doi.org/10.1504/IJPMB.2005.006112