Prerequisites of Strategic Planning: Inquiry and Status Evaluation ................................................... Prerequisite 1: Examining Performances, Perspectives,

Strategic planning should be based on the thorough knowledge of the present and potential strengths and weaknesses of an organization. Planners should consider the possible opportunities and future threats. In other words, present performance of various business verticals and functional departments should be thoroughly known by those who are responsible for conducting strategic planning exercises. Obviously, the top executives are expected to take the lead in framing strategies for the five performance areas mentioned in Chapter 1.