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Strategic Management

Discuss in scholarly detail how you explain the success of firms that do not use a formal strategic planning process.

409 words with 3 references

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The response addresses the queries posted in 409 words with references.

//In this paper, we will discuss the success of the firms that do not use a formal strategic planning process. Formal Strategic planning process is not required by every firm to become successful, and that strategic planning is more effective in those organizations where large changes are involved. //

According to Armstrong (2010), organizations that do not adopt the formal strategic planning, adopt a flexible approach to make their organization successful. According to these firms, following a formal strategic planning is like wearing a straight jacket, which destroys the performance. And specifically, when there is too much of uncertainty and changes taking place in the organization. Organizations adopt Porter's Five Force, PESTEL ...

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The response addresses the queries posted in 409 words with references.

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