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Uses and Misuses of Strategic Planning
Strategic planning is not on the way out, contrary to what many of its critics say. If properly used, it becomes strategic management, whereby strategic thinking is a pervasive aspect of running a business and a way of integrating all other control systems. To use strategic planning effectively, companies must prepare line managers for the key role they play in planning, define their business units properly, move beyond general goals, make detailed action plans, fit the plans of all units together at the corporate review stage, and integrate strategic planning with controls like budgeting, information, compensation, and organization.