Fundamentally, there are four different approaches to do formal strategic planning. The approaches are:- 1. Top-Down Approach 2. Bottom-Up Approach 3. Mixture of the Top-Down and Bottom-Up Approaches 4. Team Approach. 1. Top-Down Approach: In a centralised company, such planning is done at the top of the corporation and the departments and outlying activities are advised straightway what to do. [...]
In this article we will discuss about the classification of Research and Development (R & D) strategies into offensive, defensive and absorptive categories as classified by Pavitt. For sustained research and development effort and strategy, one of the main requirements is a measure of stability in budget allocations. This is an area where corporate planning can be of considerable assistance. [...]
In this article we will discuss about the diversification of firms. When considering 'synergy', it is important to note that businesses can be similar with respect to some resources while being different in terms of others. The key to successful diversification is to group together those businesses which, despite their differences, have at least one common resources need. Such businesses [...]