Strategy concerns the decisions made by an organization on how it will achieve its vision and corporate objectives. The strategic plan defines the route to be followed to get to the future state the organization has aspired to in its vision. Strategic planning decisions define the product lines and services offered by the company, the markets and market segments targeted, market positioning and avenues for growth. They also define decisions on developing internal capabilities to build sustainable competitive advantage

In a complex marketing environment which is both dynamic and volatile, how are these strategic decisions made? How are opportunities and threats assessed? Which markets and segments are targeted, and why? How can internal capabilities be leveraged to match market opportunities? What new competencies should be developed to achieve a distinctive capability that positions the organization for long-term competitive advantage? These are complex questions and there are no simple answers. However, there are a number of strategic planning tools which, together with management experience and judgement, can help organizations assess alternative strategies and make a strategic choice

To develop strategy, an organization must first know where it currently is in its competitive environment. It must also know its internal capabilities and limitations. It must then decide where it wants to be in the future. The organization must address the strategy questions

?Where are we now
?Where do we want to be
?How do we get there
Organizations take different approaches to strategy development and planning. Deliberate, emergent or incremental are all alternative approaches. Deliberate strategy is the result of a classical planning approach where strategic analysis leads strategic choice, which then defines the implementation of the strategy. In the complex, global and ever changing environment of contemporary business, fewer and fewer organizations are adopting a deliberate approach. Emergent and incremental approaches are more common today. In emergent strategies, patterns of strategic choice evolve over time, influenced by insights gained from implementation and day-to-day market interactions - these patterns are unintended (in contrast to deliberate strategy). Thus, in emergent strategies implementation actually leads to strategic analysis and choice. The emergent approach is more suited to uncertainty where there are risks involved and the competitive landscape is continually changing, and flexibility is required. A deliberate strategy would be flawed in these circumstances

In some cases, strategic analysis, strategic choice and implementation proceed together in small incremental steps - this is known as incremental strategy and is often adopted by innovative companies. One or two simple improvements can deliver game changers and keep the company ahead of the competition

Whatever the approach to strategy, strategic planning tools are invaluable in assessing the external and internal environments, integrating the insights gained and guiding organizations in decision making. We shall examine a wide range of strategic planning