Today's marketplace is changing at a rapid pace with new technologies, economy change, and increased competition. To face these challenges, companies rely on top management to plan and formulate methods to overcome these obstacles. The primary task of top management is implement a strategic plan. Strategic planning is the process of identifying the business of the firm today and the business it wants for the future, and the course of action or strategy it will …
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showed last 75 words of 684 total
…the road. Overall, anybody can apply strategic thinking skills to any area of his/her life. But by making a concerted effort to apply them specifically to the business venture, the company will have a much better chance of facing challenges in the marketplace. Works Cited Dessler, Gary. Management: Leading People and Organizations in the 21st Century. New Jersey: Prentice-Hall, 2001. Forecasting the Future - Strategic Management Thinking. 10 August 2001. http://www.onlinebc.gov/manage/strategy.html.