Strategic planning is a firm's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and human assets. It is the formal consideration of a firm's future course.
The Cultural Calculus of Competitive Advantage
Mapping and measuring a firm's culture and core competencies is undoubtedly an exhaustive process with numerous stages of analysis. Done correctly, it will likely challenge many of the firm's longest held beliefs and assumptions. For those willing to undergo this rigorous analysis, the result will be a strategic framework that identifies the sources of its competitive advantages and enables the firm's management to focus its efforts on manufacturing and perpetuating the cultural attributes that will sustain the core competencies of the firm.
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