Write a research paper on a strategic management related topic.
Failure of Strategic Plans:
The question we are going to deal here is why despite all the strategic approach they fail.
Strategic management is basically a matter of continuously reviewing the possibilities that surface due to the change in the circumstances while progressing towards achieving organizations objectives. It requires considering the existing strategies along with the objectives desired, appropriate steps initiated for them and the resources deployed along the pre-decided approach. There should not be a wall between means and ends.
Strategy formulation is not something like sketches on the rocks that cannot be modified in response to the needs of the prevailing business environment. It is an ongoing process
The very first thing that comes to mind is that of reviewing of the strategy continuously, have the "wind of change" noticed and the necessary rectification/amendment made accordingly. The top management should have far and foresight to anticipate the oncoming changes in the environment of technology, business, needs and expectation of the customers.