impact of stratigic planning in international business

Running Head : The Impact of Strategic Planning in International Business

The Impact of Strategic Planning in International Business (Student Name (Course Subject (Instructor (Due Date

Abstract

Strategic planning is a significant tool in the strategic management of organizations and companies . This planning can be conducted annually by a company , and it is considered to be an important process where companies can organize their activities . Companies across the globe implementing this planning find themselves at a better position , in dealing with the dynamic market environment and having a competitive edge over their

competitors

Introduction

The concept of strategy has had numerous underpinnings in different fields and industries across the world , but over decades it became essential when it is integrated into the major process of organizational activities , in both profit and not-for-profit oriented enterprises Strategic planning can be depicted to be a longitudinal study , where institutions identify changes that affect their performance over time and consequently incorporate strategic tools in their competitive and dynamic market environment . It is crucial for organizations undertaking international business to understand , the practice and nature of employing strategic planning and its effect in the global market arena and the possible correlations between their performance and efforts in business output . More so , organizations need to understand issues in international business , which they cannot control and simultaneously have a potential impact , on their business transactions , success and survival

Formal planning exerted by a company in the international scene can have some positive aspects such as creating competitive advantages...