The paper 'Formal Strategic Planning' is a perfect example of a business essay. Business conglomerates embraced and adopted it as one of the best ways to plan and execute strategies to enhance corporate business competitiveness. It was borrowed from the military way of organizing the missions. The future military strategy’ s spotlight was based on historical experience whereby heavy investment was on gathering data, the directive issuance was from top leadership, and the rest executed the orders (O’ Donovan and Flower, 2013). This formal approach is convincingly deemed fit for businesses in the 50s and 60s.
The planning approach was expected to generate step-by-step procedures followed by owners and managers of businesses (Mintzberg, 1994, p. 3). The goodwill for strategic planning started to fell in the early 1970s, and resentment and counter-arguments have endowed it with gradual use decline. The suggested reason for the decline of formal strategic planning is either ineffective or constantly better performance than anticipated at its inception (Campbell, Edgar, and Stonehouse, 2011). FSP system is characterized by concepts such as analytical, formalized, and detached planning, among other terms, which in effect has led to the questioning of the effectiveness of this approach.
The technological era from the nineties and globalization has changed business operation, and the scenario is so unique compared to the early 1950s. The future is practically unpredictable based on the past or current trends— in fact, it is unimaginable and astonishingly different. Globalization has opened up the world towards a much uncertain and dynamic environment. New powerful innovations and startups are thrown into the air-waves now and again. Such trends have only organizational heads mute because the trusted formal strategic plan grounded on assumptions no longer holds (O’ Donovan and Flower, 2013).
Such evidence cements further that formal strategic planning is no longer an appropriate organizational process for firms that make strategic decisions in highly uncertain and dynamic environments— evaluation of Formal Strategic Planning.
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