Strategy-every business has one, because every business wants to know where they are going and how they are going to get there. Strategy is apart of everyday life and to the business world it is crucial, without good strategic planning it could cost you a lot from dollars to your market position and even your business. Strategy has always been there in some form or another but its relevance came about back in the 60’s evolving over the years and eventually many pioneers came out of the woodwork including John R. Boyd who came up with the OODA Loop.
Back in the early 1980’s U.S. businesses found heavy competition from the global market causing corporate America to play catch up. Suddenly strategic planning was back. Every corporation needs a plan; it doesn’t matter what your business is. There are many different strategies out there but the one constant is you need a plan. Ever since the 1980’s when Corporate America realized that the global market was a serious threat to America’s market, strategic planning has been on a comeback. Where did this idea of planning come about, well it was Harvard professors Ken Andrews a
nd C. Roland Christensen who first voiced the concept of strategy as a tool to link together the functions of a business and asses a company’s strengths and weaknesses against it’s competitors. Another big pioneer of strategic planning was General Electric who back in the 1960’s had a relatively large staff who planned and pondered the future. This takes us to today where strategic planning is a big part of every business. It doesn’t matter how big you are you need to know where you want to be and how you are going to get there.
There is no doubt that businesses have evolved over the years and with them their strategies must evolve also. Dwight Gertz states that “The pure efficiency approach did very little to generate distinctive competitive advantages.” And so it is on to the new plans. Another reason for this evolution of strategic planning is technology. And so companies are counting on planning groups more than ever, as Chairman Kent C. Nelson states “Because we are making bigger bets on investments in technology, we cant afford to spend a whole lot of money in one direction and then find out five years later it was the wr
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