An Analysis Of The Influence Of Strategic Planning Initiatives And Strategic Planning On Business Results In China
DOI:
https://doi.org/10.52783/jns.v14.3212Keywords:
Management, Business, Croatian Enterprise, Senior ExecutivesAbstract
The interaction between the long-standing concepts of strategic planning and strategic management and the business schools that place an emphasis on strategic planning is the subject of this dissertation. The "strategic administration school" is a common way to define the prevailing worldview that most C-suite executives adhere to when discussing the theoretical foundations of strategic management. The foundation of strategic management is strategic thinking, a crucial yet underappreciated skill. At the highest levels of any company, only strategy will suffice. The abstract character of the thought process known as "strategic thinking" makes it difficult to categorize, evaluate, or teach. Empirical research has identified three critical elements of strategic thinking: HEAR, FIRM, and PORT. Studies comparing the return on investment (ROI) and other approaches found that FIRM and HEAR were the most effective in fostering strategic thinking among large Croatian enterprises. Competitive-Contemporary theory in strategic management rests on two tenets: the Resource-Oriented Approach and the Environmental Approach. Return on equity (ROE) is an important metric, yet HEAR, PORT, and FIRM all score poorly. Environmental and competitive-contemporary schools of strategic management influence return on equity (ROE), whereas conventional schools do not. The researcher fail to hear the cries for help over the lack of a standardized, controlled framework for management, particularly in strategic management, since academics assert that humans only use three of their five senses.
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