UNLOCKING THE SECRETS TO EFFECTIVE CORPORATE PLANNING AND STRATEGIC MANAGEMENT

Abstract

Corporate planning and strategic management are critical for organizational success, yet many companies struggle to effectively implement these practices. This research paper explores the key elements of successful corporate planning and strategic management based on a review of current academic literature. A model for effective implementation is presented which emphasizes aligning strategies with organizational mission and values, environmental scanning, SWOT analysis, flexibility and adaptation, performance tracking, and integrating planning into daily operations. Challenges such as resistance to change, information overload, and lack of long-term vision are analyzed. The paper concludes that corporate planning and strategy must focus on leveraging strengths, exploiting opportunities, and engaging all levels of the organization to drive sustainable competitive advantage.

Keywords: SWOT analysis, Corporate Planning, Strategic Management, PESTLE