ABSTRACT
The process of developing plans will be described in the context of the network of corporate aims. A brief discussion of the nature and development of business strategies will be included. This chapter includes a discussion of how to translate strategic planning into action. Business planning is concerned not only with the expansion or divestment of present businesses but with the identification and development of new businesses or ventures. Corporate long-range planning, as all know it today, is principally a phenomenon of the twentieth century. World War II is credited with being perhaps the largest single factor contributing to the development of formalized long-range planning. Solid, short-term planning can many times provide the necessary strategy for turning the company around and pointing the way to better operations. The development of the company’s master strategy plan requires that the business planning group identify overall alternatives that are feasible and achievable.
