Innovative Approaches to Strategic Planning in Business Management

Authors

  • Prof. Sadia Khalid Institute of Business Management (IoBM), Karachi

Keywords:

Strategic planning, Business management, Innovation, Agile planning, Scenario planning, Organizational competitiveness

Abstract

This paper examines the evolving landscape of strategic planning in business management, emphasizing the necessity of adopting innovative approaches to remain competitive and resilient in today's dynamic market environment. Traditional strategic planning models often struggle to accommodate the rapid pace of change and uncertainty inherent in modern business contexts. Therefore, this study explores emerging concepts such as agile strategic planning and scenario planning, highlighting their potential to enhance organizational adaptability, responsiveness, and long-term success. By integrating innovation into strategic planning processes, businesses can better anticipate and navigate disruptions, capitalize on emerging opportunities, and foster a culture of strategic agility. Through a comprehensive analysis of innovative strategies and their practical applications, this paper aims to provide valuable insights for business leaders, managers, and scholars seeking to optimize strategic planning practices in an increasingly complex and unpredictable business landscape.

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Published

2024-03-31

How to Cite

Prof. Sadia Khalid. (2024). Innovative Approaches to Strategic Planning in Business Management. Advance Journal of Econometrics and Finance, 1(3), 32–43. Retrieved from http://ajeaf.com/index.php/Journal/article/view/22