Improving the Effectiveness of Long Range Planning in Smaller Corporations
Improving the Effectiveness of Long Range Planning in Smaller Corporations
Peter Lorange
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These represent a particular challenge to planning. A general planning approach shall be outlined, stressing that two types of planning tasks are required: ex- ternal adaptation planning and internal integration planning (Section III) We shall then discuss how to modify this general approach to small cor- porations in different situational settings (Section IV) . For instcince, small companies often begin as one-man shows in the realm of strategic decision-making and, if they are successful, ar...e then run by a group of executives; we shall finally see how the balcince between the needs for adaptation planning and integration planning change as the corporation grows . 0728113 II. Success factors for Small Business Corporations There will, of course, be a number of factors contributing to the success of a small business. The overriding one is likely to be the capability of the chief executive, the entrepreneur, who is responsible for making his firm's success a reality. This is, however, self-evident.
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