A Holistic Review of Empirical Studies of Strategic Planning and Future Research Avenues

In today’s complex and uncertain situations and environments throughout the world; the need for strategic planning is widely accepted for smooth and successful operations of all kinds of business organizations. Strategic planning constitutes an important path to successful business operations and is a part of every business. Managers realize, understand, and implement strategic planning in different ways. Strategic Planning therefore bridges the gap between where we are, and where we want to go. In the world today as a result of the uncertain situations to businesses of all kinds, rapid changes and rapid technological developments, market opening and strong competition, organizations and institutions have to be managed with meaningful management style and be able to move beyond the current reality. The environment surrounding organizations which characterized by continues changes in order to achieve the goals and tasks for which it was created, this method is the so-called strategic management. Therefore, for any kind of organization; strategic planning is diagnosed as the basic fundamental need and necessity in response to the present scenario of the globe and any form of situation.