Online from: 1988
Subject Area: Organization Studies
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|Title:||Adapting Strategic Planning to the Changing Needs of a Business|
|Author(s):||Balaji S. Chakravarthy, (University of Minnesota, Minneapolis, USA), Peter Lorange, (The Norwegian School of Management, Sandvika, Norway)|
|Citation:||Balaji S. Chakravarthy, Peter Lorange, (1991) "Adapting Strategic Planning to the Changing Needs of a Business", Journal of Organizational Change Management, Vol. 4 Iss: 2, pp.6 - 18|
|Keywords:||Goals, Integration, Organizational change, Strategic planning|
|DOI:||10.1108/09534819110007110 (Permanent URL)|
|Publisher:||MCB UP Ltd|
|Abstract:||If strategic planning systems have failed it is because managers have failed to adapt them to the changed contexts of their businesses. Four distinct contexts are identified: Pioneer, Expand, Reorient, and Dominate. These labels are chosen to indicate the primary challenge for the business unit in each of these contexts. The contexts vary in their risk and in the adaptation and/or integration orientation that they demand of the strategic planning system. Four key elements of the strategic planning system: direction of goal setting, time-spending patterns in planning, the relative importance of the strategic budget, and the linkage between the financial plan and the budgets, are identified. Each can be manipulated to adapt the system to suit the firm's business context.|
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