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?
The 4 Components of a Strategic Plan
Section A of the ACCA P5 Advanced Performance Management syllabus deals with Strategic Planning and Control. In this article, we’re going to look at the main areas of a Strategic Plan.