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Unformatted text preview: performance Criticisms of Formal Planning May create rigidity Difficult to develop for dynamic environments o IN a constantly changing environment there is a short planning horizon Can’t replace intuition and creativity o Although we really have no ideas if our intuitions are right, and with creativity not every new idea has value May focus managers attention on today’s competition, not on tomorrows survival o Plan for the things we know and understand Reinforces success, which may lead to failure o Just because you were really good at things that happened in the past doesn’t mean that you will be successful in the future What Do we want to accomplish?? Deciding what to do We can essentially do anything but that doesn’t always make sense Enviornment/Market Driven Capital/Resource Driven Personal Preference...
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- Management, formal planning, constantly changing environment, short planning horizon