Strategic planning in turbulent environment

Abstract

The literature view forms a starting point for further research on the strategic planning in turbulent context. Strategic planning, for organizations to match the pace of changes in the business environment, remains a challenge and an area of discussion by researchers and practitioners. This paper defines strategic planning and explores its importance over the years. There are differences on the content and the number of steps found in strategic planning, leaving readers with questions like: What are the primary steps in the strategic planning and how does the process flow? What literature is available on this field? Is strategic planning still relevant to organizations in a turbulent environment? In an attempt to address these questions, the authors analyze and discuss theories and empirical findings advanced by various researchers and the conceptual framework of strategic planning; outlining gaps likely to elicit further research interest.