Abstract
This article focuses on the strategic planning process and its best practices that is suggested by the literature and also applied by companies. The two cases studied in this paper are two prominent, non-competing companies operating in Malaysia namely UMW Toyota Sdn. Bhd. and the Chemical Company of Malaysia-Fertilizers Division (CCMFD). Applying a comparative qualitative case study research methodology, the major objective of the study is to investigate in depth the different aspects, processes and practices employed by these well-known companies for their strategic planning processes. Using the grounding theory as a framework of analysis, the research findings revealed common as well as distinctive strategic planning practices between the companies under the study. The output of this project is a set of best practices to strategic planning that are followed by UMW Toyota as well as CCMFD. In the light of the findings of this research and also referring to the literature, some recommendations are made for the best practice of strategic planning process in companies.
Highlights
1.1 Research ProblemStrategies planning process has been an increasing subject of research in the recent years
Using the grounding theory as a framework of analysis, the research findings revealed common as well as distinctive strategic planning practices between the companies under the study. The output of this project is a set of best practices to strategic planning that are followed by UMW Toyota as well as Chemical Company of Malaysia-Fertilizers Division (CCMFD)
Given the increasing complexity and dynamic of the business environment (McKay, Murray & Hui, 2011), the researchers seek to find out how the strategic planning is conducted by top companies and whether it is done according to guidelines of strategic management books or it is different when it comes to practice within different industries and business contexts
Summary
Strategies planning process has been an increasing subject of research in the recent years. Given the increasing complexity and dynamic of the business environment (McKay, Murray & Hui, 2011), the researchers seek to find out how the strategic planning is conducted by top companies and whether it is done according to guidelines of strategic management books or it is different when it comes to practice within different industries and business contexts. Through a comparative case study, this research has generally focused on the strategic planning process of two pioneer companies from two different industries operating in Malaysia. These companies are UMW Toyota Motor Sdn. Bhd. The research aspires to come up with a set of best practices, processes and guidelines that can be used by other companies to achieve competiveness and sustainability
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