Some firms do no strategic planning, and some firms do strategic planning but receive no support from managers and employees. Ten reasons (excuses) often given for poor or no strategic planning in a firm are as follows:
- No formal training in strategic management
- No understanding of or appreciation for the benefits of planning
- No monetary rewards for doing planning
- No punishment for not planning
- Too busy “firefighting” (resolving internal crises) to plan ahead
- View planning as a waste of time, since no product/service is made
- Laziness; effective planning takes time and effort; time is money
- Content with current success; failure to realize that success today is no guarantee for success tomorrow; even Apple Inc. is an example
- Overconfident
- Prior bad experience with strategic planning done sometime/somewhere
Source: David Fred, David Forest (2016), Strategic Management: A Competitive Advantage Approach, Concepts and Cases, Pearson (16th Edition).
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