Today's marketplace is changing at a rapid pace with new technologies, economy change, and increased competition. To face these challenges, companies rely on top management to plan and formulate methods to overcome these obstacles. The primary task of top management is implement a strategic plan. Strategic planning is the process of identifying the business of the firm today and the business it wants for the future, and the course of action or strategy it will pursue. To be effective and successful, managers must possess skills in strategic thinking. Strategic thinking is a process in…
