what are the strength of formal strategic planning? what are its weakness ?
Answers
Additionally, formal planning enables the company to evaluate the progress made towards the achievement of specific goals. One of the most important weaknesses is the fact that businesses are operating in a highly uncertain, complex and ambiguous environment
@Samu❤️
Answer:
Formal strategic planning ensures consistency between the strategies of corporate, business and functional managers and it also provides a sense of direction for the company. Furthermore, formal strategic planning may challenge the prevailing status quo in the company. Formal planning also forces the management to design the organizational culture and structure as well as control mechanisms which otherwise, may be left off. Additionally, formal planning enables the company to evaluate the progress made towards the achievement of specific goals.
One of the most important weaknesses is the fact that businesses are operating in a highly uncertain, complex and ambiguous environment