Not all companies engage in strategic planning, some of them view it as an unnecessary distraction from day-to-day activities. This type of unplanned strategy is called ’emergent strategy’. Most companies recognise the benefits of strategic planning, so what are they?
Outsourcing
Outsourcing refers to a situation where an entity contracts an outside organisation to perform part of a manufacturing process or another function normally undertaken within the entity. Outsourcing may refer to an entity’s decision to make a particular component in house or to buy that component externally. Typically, however, outsourcing refers to longer term arrangements. …