CHAPTER 5
Strategic Planning
Despite the inevitability of the future, it cannot be predicted. Nonetheless, long-range planning has valuable benefits, providing opportunity for managers to critically question (1) whether the effects of present trends can be extended into the future, (2) assumptions that today’s products, services, markets, and technologies will be the products, services, markets, and technologies of tomorrow, and (3) perhaps most important, the usefulness of devoting their energies and resources to the defense of yesterday (Drucker, 1974).
Traditional strategic planning starts by answering two simple questions: “What is our business?” ...
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