Modern Strategic Planning

How has modern strategic planning changed since the 1970s?
Modern strategic planning has changed since the 1970s in several ways. While in the 70s, strategic planning in an organization was not as much organized or coordinated as a unit that involves and incorporated every department, rather managers representing each department were responsible for planning and reporting to the general manager and the department. In order words, managers of each department serve as a middleman between senior management and departmental members. However, modern strategic planning now revolves around teamwork where everyone’s idea is taking into account and effectively used as a tool for maximum productivity. Another change that has occurred in strategic planning

For instance, franchising , acquisitions, mergers, and joint venture are some of the aspects of strategic planning that were discussed, implemented in the 70s and have remained the same till this day. Organizations have expanded and increased their market share through this strategic planning process. Similarly, attracting a niche market was first introduced in the 70s when organizations realized that having a niche market was profitable enough to increase sales. These days, companies maintain specific niches and continue to satisfy their needs. Obviously, there are numerous strategic planning used in the 70s that have remained the same till

Specifically, organizations use mission and vision to develop their policies and plans. It is these policies and plans that drive the effective achievement of the organization’s goals and objectives. Apparently, without mission and vision, it might be difficult for organizations to achieve their objective. Furthermore, firms use mission statements to buttress its fundamental purpose of existence; in other words, the mission statements indicates what a firm would be doing to foster it continue relevance in a given industry. It is the tool that firms use to concentrate on customer satisfaction and similarly rate performance of objective and goal implementation. Similarly, firms use vision statements within a modern organization to direct its objectives. It is the vision statement that determines how the strategic direction of a firm is defined to actualize the mission statements (WikiBooks, n.d.). While firms use mission statements to determine and focus on the objective of the present, the vision statements enhance firms’ capacity to determine what their future would be. So, firms use mission statements to concentrate on the present while they equally use vision statements to focus on the future of the firms. In a nutshell, it is fair to conclude that firms use mission and vision to plan, organize, lead, and control their corporate activities and