|IMPORTANCE OF COMPANY PLANNING
This research reviews the importance of strategic planning to companies. The research focuses where appropriate on the performance of CEOs of major corporations in relation to the success or failure of corporate planning.
Strategic Planning and Its Importance
Strategic planning is the process of determining the mission, major objectives, strategies, and policies that govern the acquisition and allocation of resources to achieve organizational aims. Strategic planning is a process that generates specific actions that are required to carry out a particular strategy (Thompson & Strickland, 2001).
By definition, thus, the strategic planning process begins subsequent to the