International Journal of Applied Strategic Management (ISSN: 1742-8204) Volume 1 Issue 2
Fuad N. Al-Shaikh
Department of Business Administration, U.A.E. University
While research on strategic planning process has proliferated over the past two decades or so, little is known about this issue in the context of developing countries. The aim of this study was to investigate strategic planning process in the context of developing countries, with special reference to the case of United Arab Emirates business firms. A survey was designed to collect data from business firms in the Emirates.
Findings indicate that prevalence of strategic planning in United Arab Emirates business firms is still in its infancy. Only 10% of the surveyed companies use strategic planning. Furthermore, some companies seem to have a poor understanding of the practices of strategic planning. For instance, strategic planning in some companies is merely restricted to having plans without documentation. Although some companies do document their plans, the vast majority of these companies fail to have specific and measurable objectives.
Based on the results, recommendations were made. Companies in Emirates, regardless of their type, should take strategic planning seriously. Given the business environment that is expected to have dramatic changes over the years to come, and if the company is to survive in the future and to have a good standing in the market place, it should craft its strategic plan and be ready to deal with these changes.