Strategic planning in large companies and a research concerning the topic

Nowadays, the companies fight for survival and achievement in an environment where economic, technological, social, political developments take place and competition is becoming tougher. The developments and rapid changes in this new environment force firms to follow these changes, and to adjust to varying conditions. In the process of acquiring the competitive advantage and accommodating these changes, the concept of strategic planning has become important. Strategic planning enables executives to identify the strengths and weaknesses of the company as well as opportunities and threats within the environment. By means of strategic planning the firms can determine their goals and be prepared for unexpected changes. At the same time, strategic planning enables the firms to control their own future; in other words, it gives them the possibility to have power over their destiny. Furthermore, the flexibility, the development and the renewal of strategic plans due to the changing conditions have an important effect on the achievements of firms, and these factors should receive the necessary attention. Nevertheless, the top-executives should also consider the views of lower echelon employees in the strategic planning studies. In the first part of this study, the definition of strategy, the concepts relating to the topic and their relationships with each other are emphasized. In the second part, the detailed explanations concerning the concept of strategic viii planning, environmental analysis, choice of strategy, the implementation and evaluation are considered. In the third and final part, the implementation of a large scale company?s strategic planning is investigated.