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Essential Guide to the Strategic Planning Process

By Joe Weller | April 3, 2019 (updated March 26, 2024)

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In this article, you’ll learn the basics of the strategic planning process and how a strategic plan guides you to achieving your organizational goals. Plus, find expert insight on getting the most out of your strategic planning.

Included on this page, you'll discover the importance of strategic planning , the steps of the strategic planning process , and the basic sections to include in your strategic plan .

What Is Strategic Planning?

Strategic planning is an organizational activity that aims to achieve a group’s goals. The process helps define a company’s objectives and investigates both internal and external happenings that might influence the organizational path. Strategic planning also helps identify adjustments that you might need to make to reach your goal. Strategic planning became popular in the 1960s because it helped companies set priorities and goals, strengthen operations, and establish agreement among managers about outcomes and results.

Strategic planning can occur over multiple years, and the process can vary in length, as can the final plan itself. Ideally, strategic planning should result in a document, a presentation, or a report that sets out a blueprint for the company’s progress.

By setting priorities, companies help ensure employees are working toward common and defined goals. It also aids in defining the direction an enterprise is heading, efficiently using resources to achieve the organization’s goals and objectives. Based on the plan, managers can make decisions or allocate the resources necessary to pursue the strategy and minimize risks.

Strategic planning strengthens operations by getting input from people with differing opinions and building a consensus about the company’s direction. Along with focusing energy and resources, the strategic planning process allows people to develop a sense of ownership in the product they create.

“Strategic planning is not really one thing. It is really a set of concepts, procedures, tools, techniques, and practices that have to be adapted to specific contexts and purposes,” says Professor John M. Bryson, McKnight Presidential Professor of Planning and Public Affairs at the Hubert H. Humphrey School of Public Affairs, University of Minnesota and author of Strategic Planning for Public and Nonprofit Organizations: A Guide to Strengthening and Sustaining Organizational Achievement . “Strategic planning is a prompt to foster strategic thinking, acting, and learning, and they all matter and they are all connected.”

What Strategic Planning Is Not

Strategic planning is not a to-do list for the short or long term — it is the basis of a business, its direction, and how it will get there.

“You have to think very strategically about strategic planning. It is more than just following steps,” Bryson explains. “You have to understand strategic planning is not some kind of magic solution to fixing issues. Don’t have unrealistic expectations.”

Strategic planning is also different from a business plan that focuses on a specific product, service, or program and short-term goals. Rather, strategic planning means looking at the big picture.

While they are related, it is important not to confuse strategic planning with strategic thinking, which is more about imagining and innovating in a way that helps a company. In contrast, strategic planning supports those thoughts and helps you figure out how to make them a reality.

Another part of strategic planning is tactical planning , which involves looking at short-term efforts to achieve longer-term goals.

Lastly, marketing plans are not the same as strategic plans. A marketing plan is more about introducing and delivering a service or product to the public instead of how to grow a business. For more about marketing plans and processes, read this article .

Strategic plans include information about finances, but they are different from financial planning , which involves different processes and people. Financial planning templates can help with that process.

Why Is Strategic Planning Important?

In today’s technological age, strategic plans provide businesses with a path forward. Strategic plans help companies thrive, not just survive — they provide a clear focus, which makes an organization more efficient and effective, thereby increasing productivity.

“You are not going to go very far if you don’t have a strategic plan. You need to be able to show where you are going,” says Stefan Hofmeyer, an experienced strategist and co-founder of Global PMI Partners . He lives in the startup-rich environment of northern California and says he often sees startups fail to get seed money because they do not have a strong plan for what they want to do and how they want to do it.

Getting team members on the same page (in both creating a strategic plan and executing the plan itself) can be beneficial for a company. Planners can find satisfaction in the process and unite around a common vision. In addition, you can build strong teams and bridge gaps between staff and management.

“You have to reach agreement about good ideas,” Bryson says. “A really good strategy has to meet a lot of criteria. It has to be technically workable, administratively feasible, politically acceptable, and legally, morally, and ethically defensible, and that is a pretty tough list.”

By discussing a company’s issues during the planning process, individuals can voice their opinions and provide information necessary to move the organization ahead — a form of problem solving as a group.

Strategic plans also provide a mechanism to measure success and progress toward goals, which keeps employees on the same page and helps them focus on the tasks at hand.

When Is the Time to Do Strategic Planning?

There is no perfect time to perform strategic planning. It depends entirely on the organization and the external environment that surrounds it. However, here are some suggestions about when to plan:

If your industry is changing rapidly

When an organization is launching

At the start of a new year or funding period

In preparation for a major new initiative

If regulations and laws in your industry are or will be changing

“It’s not like you do all of the thinking and planning, and then implement,” Bryson says. “A mistake people make is [believing] the thinking has to precede the acting and the learning.”

Even if you do not re-create the entire planning process often, it is important to periodically check your plan and make sure it is still working. If not, update it.

What Is the Strategic Planning Process?

Strategic planning is a process, and not an easy one. A key is to make sure you allow enough time to complete the process without rushing, but not take so much time that you lose momentum and focus. The process itself can be more important than the final document due to the information that comes out of the discussions with management, as well as lower-level workers.

“There is not one favorite or perfect planning process,” says Jim Stockmal, president of the Association for Strategic Planning (ASP). He explains that new techniques come out constantly, and consultants and experienced planners have their favorites. In an effort to standardize the practice and terms used in strategic planning, ASP has created two certification programs .

Level 1 is the Strategic Planning Professional (SPP) certification. It is designed for early- or mid-career planners who work in strategic planning. Level 2, the Strategic Management Professional (SMP) certification, is geared toward seasoned professionals or those who train others. Stockmal explains that ASP designed the certification programs to add structure to the otherwise amorphous profession.

The strategic planning process varies by the size of the organization and can be formal or informal, but there are constraints. For example, teams of all sizes and goals should build in many points along the way for feedback from key leaders — this helps the process stay on track.

Some elements of the process might have specific start and end points, while others are continuous. For example, there might not be one “aha” moment that suddenly makes things clear. Instead, a series of small moves could slowly shift the organization in the right direction.

“Don’t make it overly complex. Bring all of the stakeholders together for input and feedback,” Stockmal advises. “Always be doing a continuous environmental scan, and don’t be afraid to engage with stakeholders.”

Additionally, knowing your company culture is important. “You need to make it work for your organization,” he says.

There are many different ways to approach the strategic planning process. Below are three popular approaches:

Goals-Based Planning: This approach begins by looking at an organization’s mission and goals. From there, you work toward that mission, implement strategies necessary to achieve those goals, and assign roles and deadlines for reaching certain milestones.

Issues-Based Planning: In this approach, start by looking at issues the company is facing, then decide how to address them and what actions to take.

Organic Planning: This approach is more fluid and begins with defining mission and values, then outlining plans to achieve that vision while sticking to the values.

“The approach to strategic planning needs to be contingent upon the organization, its history, what it’s capable of doing, etc.,” Bryson explains. “There’s such a mistake to think there’s one approach.”

For more information on strategic planning, read about how to write a strategic plan and the different types of models you can use.

Who Participates in the Strategic Planning Process?

For work as crucial as strategic planning, it is necessary to get the right team together and include them from the beginning of the process. Try to include as many stakeholders as you can.

Below are suggestions on who to include:

Senior leadership

Strategic planners

Strategists

People who will be responsible for implementing the plan

People to identify gaps in the plan

Members of the board of directors

“There can be magic to strategic planning, but it’s not in any specific framework or anybody’s 10-step process,” Bryson explains. “The magic is getting key people together, getting them to focus on what’s important, and [getting] them to do something about it. That’s where the magic is.”

Hofmeyer recommends finding people within an organization who are not necessarily current leaders, but may be in the future. “Sometimes they just become obvious. Usually they show themselves to you, you don’t need to look for them. They’re motivated to participate,” he says. These future leaders are the ones who speak up at meetings or on other occasions, who put themselves out there even though it is not part of their job description.

At the beginning of the process, establish guidelines about who will be involved and what will be expected of them. Everyone involved must be willing to cooperate and collaborate. If there is a question about whether or not to include anyone, it is usually better to bring on extra people than to leave someone out, only to discover later they should have been a part of the process all along. Not everyone will be involved the entire time; people will come and go during different phases.

Often, an outside facilitator or consultant can be an asset to a strategic planning committee. It is sometimes difficult for managers and other employees to sit back and discuss what they need to accomplish as a company and how they need to do it without considering other factors. As objective observers, outside help can often offer insight that may escape insiders.

Hofmeyer says sometimes bosses have blinders on that keep them from seeing what is happening around them, which allows them to ignore potential conflicts. “People often have their own agendas of where they want to go, and if they are not aligned, it is difficult to build a strategic plan. An outsider perspective can really take you out of your bubble and tell you things you don’t necessarily want to hear [but should]. We get into a rhythm, and it’s really hard to step out of that, so bringing in outside people can help bring in new views and aspects of your business.”

An outside consultant can also help naysayers take the process more seriously because they know the company is investing money in the efforts, Hofmeyer adds.

No matter who is involved in the planning process, make sure at least one person serves as an administrator and documents all planning committee actions.

What Is in a Strategic Plan?

A strategic plan communicates goals and what it takes to achieve them. The plan sometimes begins with a high-level view, then becomes more specific. Since strategic plans are more guidebooks than rulebooks, they don’t have to be bureaucratic and rigid. There is no perfect plan; however, it needs to be realistic.

There are many sections in a strategic plan, and the length of the final document or presentation will vary. The names people use for the sections differ, but the general ideas behind them are similar: Simply make sure you and your team agree on the terms you will use and what each means.

One-Page Strategic Planning Template

“I’m a big fan of getting a strategy onto one sheet of paper. It’s a strategic plan in a nutshell, and it provides a clear line of sight,” Stockmal advises.

You can use the template below to consolidate all your strategic ideas into a succinct, one-page strategic plan. Doing so provides you with a high-level overview of your strategic initiatives that you can place on your website, distribute to stakeholders, and refer to internally. More extensive details about implementation, capacity, and other concerns can go into an expanded document.

Download One-Page Strategic Planning Template Excel | Word | Smartsheet

The most important part of the strategic plan is the executive summary, which contains the highlights of the plan. Although it appears at the beginning of the plan, it should be written last, after you have done all your research.

Of writing the executive summary, Stockmal says, “I find it much easier to extract and cut and edit than to do it first.”

For help with creating executive summaries, see these templates .

Other parts of a strategic plan can include the following:

Description: A description of the company or organization.

Vision Statement: A bold or inspirational statement about where you want your company to be in the future.

Mission Statement: In this section, describe what you do today, your audience, and your approach as you work toward your vision.

Core Values: In this section, list the beliefs and behaviors that will enable you to achieve your mission and, eventually, your vision.

Goals: Provide a few statements of how you will achieve your vision over the long term.

Objectives: Each long-term goal should have a few one-year objectives that advance the plan. Make objectives SMART (specific, measurable, achievable, and time-based) to get the most out of them.

Budget and Operating Plans: Highlight resources you will need and how you will implement them.

Monitoring and Evaluation: In this section, describe how you will check your progress and determine when you achieve your goals.

One of the first steps in creating a strategic plan is to perform both an internal and external analysis of the company’s environment. Internally, look at your company’s strengths and weaknesses, as well as the personal values of those who will implement your plan (managers, executives, board members). Externally, examine threats and opportunities within the industry and any broad societal expectations that might exist.

You can perform a SWOT (strengths, weaknesses, opportunities, and threats) analysis to sum up where you are currently and what you should focus on to help you achieve your future goals. Strengths shows you what you do well, weaknesses point out obstacles that could keep you from achieving your objectives, opportunities highlight where you can grow, and threats pinpoint external factors that could be obstacles in your way.

You can find more information about performing a SWOT analysis and free templates in this article . Another analysis technique, STEEPLE (social, technological, economic, environmental, political, legal, and ethical), often accompanies a SWOT analysis.

Basics of Strategic Planning

How you navigate the strategic planning process will vary. Several tools and techniques are available, and your choice depends on your company’s leadership, culture, environment, and size, as well as the expertise of the planners.

All include similar sections in the final plan, but the ways of driving those results differ. Some tools are goals-based, while others are issues- or scenario-based. Some rely on a more organic or rigid process.

Hofmeyer summarizes what goes into strategic planning:

Understand the stakeholders and involve them from the beginning.

Agree on a vision.

Hold successful meetings and sessions.

Summarize and present the plan to stakeholders.

Identify and check metrics.

Make periodic adjustments.

Items That Go into Strategic Planning

Strategic planning contains inputs, activities, outputs, and outcomes. Inputs and activities are elements that are internal to the company, while outputs and outcomes are external.

Remember, there are many different names for the sections of strategic plans. The key is to agree what terms you will use and define them for everyone involved.

Inputs are important because it is impossible to know where you are going until you know what is around you where you are now.

Companies need to gather data from a variety of sources to get a clear look at the competitive environment and the opportunities and risks within that environment. You can think of it like a competitive intelligence program.

Data should come from the following sources:

Interviews with executives

A review of documents about the competition or market that are publicly available

Primary research by visiting or observing competitors

Studies of your industry

The values of key stakeholders

This information often goes into writing an organization’s vision and mission statements.

Activities are the meetings and other communications that need to happen during the strategic planning process to help everyone understand the competition that surrounds the organization.

It is important both to understand the competitive environment and your company’s response to it. This is where everyone looks at and responds to the data gathered from the inputs.

The strategic planning process produces outputs. Outputs can be as basic as the strategic planning document itself. The documentation and communications that describe your organization’s strategy, as well as financial statements and budgets, can also be outputs.

The implementation of the strategic plan produces outcomes (distinct from outputs). The outcomes determine the success or failure of the strategic plan by measuring how close they are to the goals and vision you outline in your plan.

It is important to understand there will be unplanned and unintended outcomes, too. How you learn from and adapt to these changes influence the success of the strategic plan.

During the planning process, decide how you will measure both the successes and failures of different parts of the strategic plan.

Sharing, Evaluating, and Monitoring the Progress of a Strategic Plan

After companies go through a lengthy strategic planning process, it is important that the plan does not sit and collect dust. Share, evaluate, and monitor the plan to assess how you are doing and make any necessary updates.

“[Some] leaders think that once they have their strategy, it’s up to someone else to execute it. That’s a mistake I see,” Stockmal says.

The process begins with distributing and communicating the plan. Decide who will get a copy of the plan and how those people will tell others about it. Will you have a meeting to kick off the implementation? How will you specify who will do what and when? Clearly communicate the roles people will have.

“Before you communicate the plan [to everyone], you need to have the commitment of stakeholders,” Hofmeyer recommends. Have the stakeholders be a part of announcing the plan to everyone — this keeps them accountable because workers will associate them with the strategy. “That applies pressure to the stakeholders to actually do the work.”

Once the team begins implementation, it’s necessary to have benchmarks to help measure your successes against the plan’s objectives. Sometimes, having smaller action plans within the larger plan can help keep the work on track.

During the planning process, you should have decided how you will measure success. Now, figure out how and when you will document progress. Keep an eye out for gaps between the vision and its implementation — a big gap could be a sign that you are deviating from the plan.

Tools are available to assist with tracking performance of strategic plans, including several types of software. “For some organizations, a spreadsheet is enough, but you are going to manually enter the data, so someone needs to be responsible for that,” Stockmal recommends.

Remember: strategic plans are not written in stone. Some deviation will be necessary, and when it happens, it’s important to understand why it occurred and how the change might impact the company's vision and goals.

Deviation from the plan does not mean failure, reminds Hofmeyer. Instead, understanding what transpired is the key. “Things happen, [and] you should always be on the lookout for that. I’m a firm believer in continuous improvement,” he says. Explain to stakeholders why a change is taking place. “There’s always a sense of re-evaluation, but do it methodically.”

Build in a schedule to review and amend the plan as necessary; this can help keep companies on track.

What Is Strategic Management?

Strategic planning is part of strategic management, and it involves the activities that make the strategic plan a reality. Essentially, strategic management is getting from the starting point to the goal effectively and efficiently using the ongoing activities and processes that a company takes on in order to keep in line with its mission, vision, and strategic plan.

“[Strategic management] closes the gap between the plan and executing the strategy,” Stockmal of ASP says. Strategic management is part of a larger planning process that includes budgeting, forecasting, capital allocation, and more.

There is no right or wrong way to do strategic management — only guidelines. The basic phases are preparing for strategic planning, creating the strategic plan, and implementing that plan.

No matter how you manage your plan, it’s key to allow the strategic plan to evolve and grow as necessary, due to both the internal and external factors.

“We get caught up in all of the day-to-day issues,” Stockmal explains, adding that people do not often leave enough time for implementing the plan and making progress. That’s what strategic management implores: doing things that are in the plan and not letting the plan sit on a shelf.

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Why Is Strategic Planning Important?

• 06 Oct 2020

Do you know what your organization’s strategy is? How much time do you dedicate to developing that strategy each month?

If your answers are on the low side, you’re not alone. According to research from Bridges Business Consultancy , 48 percent of leaders spend less than one day per month discussing strategy.

It’s no wonder, then, that 48 percent of all organizations fail to meet at least half of their strategic targets. Before an organization can reap the rewards of its business strategy, planning must take place to ensure its strategy remains agile and executable .

Here’s a look at what strategic planning is and how it can benefit your organization.

Access your free e-book today.

What Is Strategic Planning?

Strategic planning is the ongoing organizational process of using available knowledge to document a business's intended direction. This process is used to prioritize efforts, effectively allocate resources, align shareholders and employees on the organization’s goals, and ensure those goals are backed by data and sound reasoning.

It’s important to highlight that strategic planning is an ongoing process—not a one-time meeting. In the online course Disruptive Strategy , Harvard Business School Professor Clayton Christensen notes that in a study of HBS graduates who started businesses, 93 percent of those with successful strategies evolved and pivoted away from their original strategic plans.

“Most people think of strategy as an event, but that’s not the way the world works,” Christensen says. “When we run into unanticipated opportunities and threats, we have to respond. Sometimes we respond successfully; sometimes we don’t. But most strategies develop through this process. More often than not, the strategy that leads to success emerges through a process that’s at work 24/7 in almost every industry.”

Strategic planning requires time, effort, and continual reassessment. Given the proper attention, it can set your business on the right track. Here are three benefits of strategic planning.

Related: 4 Ways to Develop Your Strategic Thinking Skills

Benefits of Strategic Planning

1. create one, forward-focused vision.

Strategy touches every employee and serves as an actionable way to reach your company’s goals.

One significant benefit of strategic planning is that it creates a single, forward-focused vision that can align your company and its shareholders. By making everyone aware of your company’s goals, how and why those goals were chosen, and what they can do to help reach them, you can create an increased sense of responsibility throughout your organization.

This can also have trickle-down effects. For instance, if a manager isn’t clear on your organization’s strategy or the reasoning used to craft it, they could make decisions on a team level that counteract its efforts. With one vision to unite around, everyone at your organization can act with a broader strategy in mind.

2. Draw Attention to Biases and Flaws in Reasoning

The decisions you make come with inherent bias. Taking part in the strategic planning process forces you to examine and explain why you’re making each decision and back it up with data, projections, or case studies, thus combatting your cognitive biases.

A few examples of cognitive biases are:

• The recency effect: The tendency to select the option presented most recently because it’s fresh in your mind
• Occam’s razor bias: The tendency to assume the most obvious decision to be the best decision
• Inertia bias: The tendency to select options that allow you to think, feel, and act in familiar ways

One cognitive bias that may be more difficult to catch in the act is confirmation bias . When seeking to validate a particular viewpoint, it's the tendency to only pay attention to information that supports that viewpoint.

If you’re crafting a strategic plan for your organization and know which strategy you prefer, enlist others with differing views and opinions to help look for information that either proves or disproves the idea.

Combating biases in strategic decision-making requires effort and dedication from your entire team, and it can make your organization’s strategy that much stronger.

Related: 3 Group Decision-Making Techniques for Success

3. Track Progress Based on Strategic Goals

Having a strategic plan in place can enable you to track progress toward goals. When each department and team understands your company’s larger strategy, their progress can directly impact its success, creating a top-down approach to tracking key performance indicators (KPIs) .

By planning your company’s strategy and defining its goals, KPIs can be determined at the organizational level. These goals can then be extended to business units, departments, teams, and individuals. This ensures that every level of your organization is aligned and can positively impact your business’s KPIs and performance.

It’s important to remember that even though your strategy might be far-reaching and structured, it must remain agile. As Christensen asserts in Disruptive Strategy , a business’s strategy needs to evolve with the challenges and opportunities it encounters. Be prepared to pivot your KPIs as goals shift and communicate the reasons for change to your organization.

Improve Your Strategic Planning Skills

Strategic planning can benefit your organization’s vision, execution, and progress toward goals. If strategic planning is a skill you’d like to improve, online courses can provide the knowledge and techniques needed to lead your team and organization.

Strategy courses can range from primers on key concepts (such as Economics for Managers ), to deep-dives on strategy frameworks (such as Disruptive Strategy ), to coursework designed to help you strategize for a specific organizational goal (such as Sustainable Business Strategy ).

Learning how to craft an effective, compelling strategic plan can enable you to not only invest in your career but provide lasting value to your organization.

Do you want to formulate winning strategies for your organization? Explore our portfolio of online strategy courses and download the free flowchart to determine which is the best fit for you and your goals.

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How to implement a strategic management process

Strategic management is the ongoing process of strategy formulation, evaluation, and improvement in order to gain a competitive advantage. Learn about the five stages of strategic management and how implementing a strategic management process benefits your organization.

Clear eyes, full hearts, can’t lose. When your team has a clear sense of where you’re going and why, they’re empowered to get their best work done efficiently and effectively. 

But building that level of clarity takes time—and effort. That’s where strategic management comes in. In this article, we’ll take a look at what strategic management is and how your team can benefit from the strategic management process. 

What is strategic management?

Strategic management is the organization and execution of business resources in order to achieve your company goals. This isn’t an individual initiative but rather an ongoing process of strategy formulation, evaluation, and improvement in order to gain a sustainable competitive advantage. 

The strategic management process includes:

Long-term, large-scale goal setting, like BHAGs

SWOT analysis

Strategy evaluation

Internal analysis of your organizational structure

Analysis of your external, competitive environment

Strategic planning

Process implementation plans to achieve your organization’s objectives

Competitive strategy implementation

Strategic management might sound similar to several other critical business elements. Here’s how it stacks up in the business environment. 

Strategic management vs. strategy

At first glance, strategic management and strategy seem like the same thing. The easiest way to differentiate between the two is to think of strategic management as the implementation of your corporate strategy. 

In a business setting, strategy is the process of formulating decisions to hit your organization’s goals. An effective strategy is critical to help your business team understand what your priorities are and where you’re going. But to put the strategy into motion, you need strategic management. Strategic management takes your competitive environment into account and factors in how you’ll execute against your company’s strategy. 

Strategic management vs. strategic planning

A strategic plan is a tool to define where your organization wants to go and what actions you need to take to achieve those goals. Strategic planning is the process of creating a plan in order to hit your strategic objectives.

Strategic management includes the strategic planning process, but also goes beyond it. In addition to planning howyou will achieve your big-picture goals, strategic management also helps you organize your resources and figure out the best action plans for success. 

Strategic management vs operational management

Even though the terms are very different, strategic management is often confused with operational management. Operational management is what your company does. This includes your organization’s value chain—in other words, the processes and practices your organization does on a regular basis in order to deliver a final product, good, or service.

If operational management is the “what,” strategic management is the “why” and “how.” To start, strategic management helps you define why you’re prioritizing different business initiatives and what you’re aiming to achieve in the long term. Then, during the implementation and planning phase, strategic management also defines how you’ll achieve your goals. 

Strategic management example

Strategic management helps companies achieve ambitious goals that require strategic alignment across departments. 

For example, imagine your company is introducing a brand new service line and wants to implement a strategic management process to ensure execution goes smoothly. You’ll first want to evaluate a few things about your current processes and future goals. 

What are the goals of introducing a new service? 

What areas have we struggled with in the past?

What is our budget?

How can we differentiate ourselves in our industry?

By using the strategic management process, you can use the questions above to create a coordinated plan that helps you reach your target goals. Keep reading as we break down the five stages of the strategic management process along with some benefits strategic management can have for your organization. 

5 stages of the strategic management process

The important concepts of strategic management can be viewed in five stages:

1. Identify your goals

The first step in the strategic management process is to evaluate where you’re going, and why. Ideally, you already have some goal materials in place, including: 

Your vision statement

Your mission statement

Your long-term goals and/or BHAGs

Your company’s core competencies

There are additional documents you can consider at this point, including:

Your strategic plan

Your yearly objectives, OKRs , and KPIs

It’s critical to identify your goals and plans in order to understand how you’re going to achieve them. Your goals form the basis of your strategic decisions.

2. Analyze your current situation

Once you’ve compiled a list of where you want to go, it’s helpful to get a bearing on where you are. The second step of strategic management is to take a look inwards at your current processes. If you haven’t already, run a SWOT analysis to get a better understanding of your organization’s strengths, weaknesses, opportunities, and threats. 

Also consider:

What’s currently working? 

What competitive advantages does your company have? 

What isn’t working? 

What, if any, operational issues have you run into? 

What is your current market share, and how does it compare to your goals? 

What are your current business needs, and are they being met? 

What, if anything, could potentially impact your organization’s goals? 

How does the external environment (including public opinion and the competitive environment) impact your business?

How does your internal environment (including your operations, employee retention and satisfaction, and team morale ) impact your business? 

What does your organization need to do to achieve profitability?

3. Form your strategy

If you haven’t already, this is the step where you build your strategic plan to describe exactly where you want to go and how you plan to achieve those goals. Depending on your organization, and whether or not you’re a new business, this is also when you’d use business process management (BPM) to improve processes.

Key questions to ask during this stage include:

What steps do you need to take to reach your goals? 

How will you measure success? 

What are your current processes, and are you able to achieve your goals with them? 

4. Implement your strategy

You’ve identified your strategy—now it’s time to put it into action. The fourth step of the strategic management process takes the longest. This is where you implement your strategic plan and see it come to life. 

This step depends largely on your business strategy. Essentially, you’re deciding which processes you need to evaluate, monitor, and improve—and putting those process improvement plans into action. This includes anything from better resource allocation or implementing business process automation (BPA) to streamline processes, to developing a company-wide project management office (PMO) . 

Remember that implementing your strategy is a long-term process. In addition to your long-term strategic goals , make sure to set short-term goals to guide your strategy implementation and make sure you remain on track.

5. Evaluate your process

Strategic management isn’t a one-and-done thing. Your management strategy and business environment also change as your company matures. Similar to how you should revisit your strategic plan every three to five years, make sure you’re revisiting your overall strategic management plan regularly as well. Take into consideration any new potential threats, relevant success metrics, and developing avenues your business may want to pursue.

Strategic management frameworks

There are a number of frameworks that can help you approach strategic management. Some of the most popular include:

A SWOT analysis guides you in identifying your strengths, weaknesses, opportunities, and threats for your business strategy. When working through the strategic management process, factor a SWOT analysis into the “Analyze” phase, as it helps establish your baseline and where you can go from there. 

Balanced scorecard

 A balanced scorecard can help you evaluate four major elements of a business: learning and growth, business processes, customer satisfaction, and financial performance. By analyzing these aspects separately, you can visualize where your organization has a competitive advantage and where you can make improvements. 

Like a SWOT analysis, this framework can help you during the “Analyze” phase, as it dives into your baseline for each aspect of your business model. 

Value chain analysis

The value chain describes the systems and processes involved in producing new products or services. Analyzing the value chain allows organizations to identify opportunities for improvement within the project life cycle. Some questions that come from value chain analysis include:

Is there an opportunity for cost reduction? 

Can we streamline this process? 

What can we do to make our product or service different from competitors? 

Diving into a value chain analysis will help you pick apart your process and add more specific plans to your strategic management process.  

Why is strategic management important?

Strategic management benefits every level of your organization. While the process takes time, energy, and effort, the upsides are immense and echo throughout the entire organization. With effective strategic management, you’re building:

Clear plans on how you’ll reach organizational goals

At its core, strategic management is a roadmap for achieving company goals. Using the frameworks stated above, strategic management paints a clear picture of an organization’s goals and outlines the path to reach them. 

A team-wide understanding of organizational priorities

The strategic management process ensures that your goals align with what’s best for your organization. By diving into techniques like SWOT analyses and value chain analyses, you’ll discover what opportunities should be at the forefront of your improvement efforts. 

Strategic alignment across the organization

When you establish and communicate your company’s goals and priorities, strategic improvement will trickle down from the leadership level to the whole organization. 

The strategic management process is so effective because it takes strategic initiatives from ideation to execution. By establishing the right goals in the first stage of the process, you’ll find your whole organization aligned with the plan to achieve them.                                                                                             

An ongoing business process

Perhaps the most beneficial aspect of the strategic management process is that it creates a system that is ongoing. The end result of the strategic management process should be a new system that you can tweak as your company evolves. 

Reach new heights with strategic management

Strategic management doesn’t happen in a vacuum. You need key business units and project stakeholders to buy into your strategic plan. Effective strategic management permeates all levels of your organizational structure and factors in all of your organization’s resources in order to build the best long-term strategy for your business.

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Strategic Planning Process: Why Is Strategic Planning Important for Organizations in 2024?

What to read next:

Playing chess without a strong opening is a guaranteed way to disadvantage yourself. Just like in chess, organizations without an adequate strategic planning process are unlikely to thrive and adapt long-term. 

The strategic planning process is essential for aligning your organization on key priorities, goals, and initiatives, making it crucial for organizational success.   

This article will empower you to craft and perfect your strategic planning process by exploring the following:  

• What is strategic planning
• Why strategic planning is important for your business  
• The seven steps of the strategic planning process   

Strategic planning frameworks

• Best practices supporting the strategic planning process  

By the end of this article, you’ll have the knowledge needed to perfect the key elements of strategic planning. Ready? Let’s begin.  

What is strategic planning?

Strategic planning charts your business's course toward success. Using your organization’s vision, mission statement , and values — with internal and external information — each step of the strategic planning process helps you craft long-term objectives and attain your goals with strategic management.  

The key elements of strategic planning includes a SWOT analysis, goal setting , stakeholder involvement, plus developing actionable strategies, approaches, and tactics aligned with primary objectives.  

In short, the strategic planning process bridges the gap between your organization’s current and desired state, providing a clear and actionable framework that answers:   Where are you now?   Where do you want to be?   How will you get there?

7 key elements of strategic planning 

The following strategic planning components work together to create cohesive strategic plans for your business goals. Let’s take a close look at each of these:  

• Vision : What your organization wants to achieve in the future, the long-term goal  
• Mission : The driving force behind why your company exists, who it serves, and how it creates value  
• Values : Fundamental beliefs guiding your company’s decision-making process  
• Goals : Measurable objectives in alignment with your business mission, vision, and values  
• Strategy : A long-term strategy map for achieving your objectives based on both internal and external factors  
• Approach : How you execute strategy and achieve objectives using actions and initiatives   
• Tactics : Granular short-term actions, programs, and activities  

Why is the strategic planning process important?

Just as a chess player needs a gameplan to reach checkmate, a company needs a solid strategic plan to achieve its goals.   

Without a strategic plan, your business will waste precious time, energy, and resources on endeavors that won’t get your company closer to where it needs to be.   

Your ideal plan should cover all key strategic planning areas, while allowing you to stay present by measuring success and course-correcting or redefining the strategic direction when necessary. Ultimately, enabling your company to stay future-proof through the creation of an always-on strategy that reflects your company's mission and vision.   

An always-on strategy involves continuous environmental scanning even after the strategic plan has been devised, ensuring readiness to adapt in response to quick, drastic changes in the environment.

Let’s dive deeper into the steps of the strategic planning process.  

What are the 7 stages of the strategic planning process?

You understand the overall value of implementing a strategic planning process — now let’s put it in practice. Here's our 7-step approach to strategic planning that ensures everyone is on the same page:  

• Clarify your vision, mission, and values  
• Conduct an environmental scan  
• Define strategic priorities  
• Develop goals and metrics  
• Derive a strategic plan  
• Write and communicate your strategic plan  
• Implement, monitor, and revise   

1. Clarify your vision, mission, and values 

The first step of the strategic planning process is understanding your organization’s core elements: vision, mission, and values. Clarifying these will align your strategic plan with your company’s definition of success. Once established, these are the foundation for the rest of the strategic planning process.   

Questions to ask:

• What do we aspire to achieve in the long term?
• What is our purpose or ultimate goal?
• What do we do to fulfill our vision?
• What key activities or services do we provide?
• What are our organization's ethics?
• What qualities or behaviors do we expect from employees?

Read more: What is Mission vs. Vision  

2. Conduct an environmental scan

Once everyone on the same page about vision, mission, and values, it's time to scan your internal and external environment. This involves a long-term SWOT analysis, evaluating your organization’s strengths, weaknesses, opportunities, and threats.  

Internal factors 

Internal strengths and weaknesses help you understand where your organization excels and what it could improve. Strengths and weaknesses awareness helps make more informed decisions with your capabilities and resource allocation in mind.  

External factors

Externally, opportunities and threats in the market help you understand the power of your industry’s customers, suppliers, and competitors. Additionally, consider how broader forces like technology, culture, politics, and regulation may impact your organization.   

• What are our organization's key strengths or competitive advantages?
• What areas or functions within our organization need improvement?
• What emerging trends or opportunities can we leverage?
• How do changes in technology, regulations, or consumer behavior impact us?

3. Define strategic priorities

Prioritization puts the “strategic” in strategic planning process. Your organization’s mission, vision, values, and environmental scan serve as a lens to identify top priorities. Limiting priorities ensures your organization intentionally allocates resources.  

These categories can help you rank your strategic priorities:  

• Critical : Urgent tasks whose failure to complete will have severe consequences — financial losses, reputation damage, or legal consequences  
• Important : Significant tasks which support organizational achievements and require timely completion  
• Desirable : Valuable tasks not essential in the short-term, but can contribute to long-term success and growth  
• How do these priorities align with our mission, vision, and values?
• Which tasks need to be completed quickly to ensure effective progress towards our desired outcomes?
• What resources and capabilities do we need to pursue these priorities effectively?

4. Develop goals and metrics

Next, you establish goals and metrics to reflect your strategic priorities. Purpose-driven, long-term, actionable strategic planning goals should flow down through the organization, with lower-level goals contributing to higher-level ones.  

One approach that can help you set and measure your aligned goals is objectives and key results (OKRs). OKRs consist of objectives, qualitative statements of what you want to achieve, and key results, 3-5 supporting metrics that track progress toward your objective.  

OKRs ensure alignment at every level of the organization, with tracking and accountability built into the framework to keep everyone engaged. With ambitious, intentional goals, OKRs can help you drive the strategic plan forward.  

• What metrics can we use to track progress toward each objective?
• How can we ensure that lower-level goals and metrics support and contribute to higher-level ones?
• How will we track and measure progress towards key results?
• How will we ensure accountability?

Get an in-depth look at OKRs with our Ultimate OKR Playbook

5. Derive a strategic plan

The next step of the strategic planning process gets down to the nitty-gritty “how” — developing a clear, practical strategic plan for bridging the gap between now and the future.   

To do this, you’ll need to brainstorm short- and long-term approaches to achieving the goals you’ve set, answering a couple of key questions along the way. You must evaluate ideas based on factors like:  

• Feasibility : How realistic and achievable is it?  
• Impact : How conducive is it to goal attainment?  
• Cost : Can we fund this approach, and is it worth the investment?  
• Alignment : Does it support our mission, vision, and values?  

From your approaches, you can devise a detailed action plan, which covers things like:  

• Timelines : When will we take each step, and what are the deadlines?  
• Milestones : What key achievements will ensure consistent progress?  
• Resource requirements : What’s needed to achieve each step?  
• Responsibilities : Who's accountable in each step?  
• Risks and challenges : What can affect our ability to execute our plan? How will we address these?  

With a detailed action plan like this, you can move from abstract goals to concrete steps, bringing you closer to achieving your strategic objectives.  

6. Write and communicate your strategic plan

Writing and communicating your strategic plan involves everyone, ensuring each team is on the same page. Here’s a clear, concise structure you can use to cover the most important strategic planning components:  

• Executive summary : Highlights and priorities in your strategic overview   
• Introduction : Background on your strategic plan  
• Connection : How your strategic plan aligns with your organization’s mission, vision, and values  
• Environmental scan : An overview of your SWOT analysis findings  
• Strategic priorities and goals : Informed short and long-term organizational goals  
• Strategic approach : An overview of your tactical plan   
• Resource needs : How you'll deploy technology, funding, and employees  
• Risk and challenges : How you’ll mitigate the unknowns if and when they arise  
• Implementation plan : A step-by-step resource deployment plan for achieving your strategy  
• Monitoring and evaluation : How you’ll keep your plan heading in the right direction  
• Conclusion : A summary of the strategic plan and everything it entails  
• What information or context do stakeholders need to understand the strategic plan?
• How can we emphasize the connection between the strategic plan and the overall purpose and direction of the organization?
• What initiatives or strategies will we implement to drive progress?
• How will we mitigate or address risks?
• What are the specific steps and actions we need to take to implement the strategic plan?
• Any additional information or next steps we need to communicate?

7. Implement, monitor, and revise performance 

Finally, it’s time to implement your strategic plan, making sure it's up to date, creating a persistent, always-on strategy that doesn't lag behind. As you get the ball rolling, keep a close eye on your timelines, milestones, and performance targets, and whether these align with your internal and external environment.   

Internally, indicators like completions, issues, and delays provide visibility into your process. If any bottlenecks, inefficiencies, or misalignment arises, take corrective action promptly — adjust the plan, reallocate resources, or provide additional training to employees.  

Externally, you should monitor changes such as customer preferences, competitive pressures, economic shifts , and regulatory changes. These impact the success of your strategic action plan and may require tweaks along the way.   

Remember, implementing a strategic plan isn’t a one-time task — continual evaluation is essential for an always-on strategy. It involves extending beyond planning stages and contextualizing the strategy in real-time, allowing for swift adaptations to changing circumstances to ensure your plan remains relevant.

• Are there any bottlenecks, inefficiencies, or misalignments we need to address?
• Are we monitoring and analyzing external factors?
• Are we prepared to make necessary tweaks or adaptations along the way?
• Are we agile enough to promptly correct deviations from our strategic plan while maintaining an "always-on" strategy for continual adjustments?

You can use several frameworks to guide you through the strategic planning process. Some of the most influential ones include:

• Balanced scorecard (BSC) : Takes an overarching approach to strategic planning, covering financial, customer, internal processes, and learning and growth, aligning short-term operational tasks with long-term strategic goals.
• SWOT analysis : Highlights your business's internal strengths and weaknesses alongside external opportunities and threats to enable informed decisions about your strategic direction.
• OKRs : Structures goals as a set of measurable objectives and key results. They cascade down from top-level organizational objectives to lower-level team goals, ensuring alignment across the entire organization. Get an in-depth look at OKRs here . 
• Scenario planning : Involves envisioning and planning for various possible future scenarios, allowing you to prepare for a range of potential outcomes. It's particularly useful in volatile environments rife with uncertainties.
• Porter's five forces : Evaluates the competitive forces within your industry — rivalry among existing competitors, bargaining power of buyers and suppliers, threat of new entrants, and threat of substitutes — to shape strategies that position the organization for success.

Common problems with strategic planning and how to overcome them

While strategic planning provides a roadmap for business success, it's not immune to challenges. Recognizing and addressing these is crucial for effective strategy implementation. Let's explore common issues encountered in strategic planning and strategies to overcome them.

Static nature

Traditional strategic planning models often follow a linear, annual, and inflexible process that doesn't accommodate quick changes in the business landscape. Strategies formulated this way may quickly become outdated in today's fast-paced environment.

To overcome the rigidity of traditional strategic planning, your organization should integrate continuous environmental scanning processes. This includes monitoring market changes, competitor actions, and technological advancements, ensuring real-time insights inform strategic decision-making. Additionally, adopting agile methodologies allows for iterative planning, breaking down strategies into smaller, manageable components reviewed and adjusted regularly, ensuring adaptability in today's fast-paced landscape.

Disconnect between strategic plan and execution

There's often a significant gap between the strategic objectives and their actual implementation, leading to misalignment, confusion, and inefficiency within the organization.

To bridge the gap, ensure accountability, alignment, and feedback-driven processes across the business. Linking team roles and responsibilities to lower-level objectives can fosters alignment and accountability, whereas aligning these with overarching strategic objectives ensure coherence in execution. To ensure goals are optimized on an ongoing basis, implement a feedback mechanism that continuously evaluates progress against goals, enabling regular adjustments based on market feedback and internal insights.

Lack of real-time insights

Traditional planning models rely on historical data and periodic reviews, which might not capture real-time changes or emerging trends accurately. This can result in misaligned strategies unsuitable for the current business landscape.

Leverage advanced analytics tools and AI-driven technologies. Invest in technologies that offer real-time tracking and reporting of key performance indicators, with dashboards and monitoring systems that provide up-to-date insights. These allow you to gather, process, and interpret real-time data for proactive decision-making that aligns with the current business landscape. 

Failure to close the feedback loop

The absence of a feedback loop between strategy formulation, execution, and evaluation can impact learning and improvement. Companies might therefore struggle to refine their strategies based on real-time performance insights.

Establish a structured feedback loop encompassing strategy formulation, execution, and evaluation stages. Encourage employees to actively contribute insights on strategy execution, fostering a culture of continuous improvement and adaptation.

Best practices during the strategic planning process

Navigating strategic planning goes beyond overcoming challenges. A successful strategic plan requires you to embrace a set of guiding best practices, helping you navigate the development and implementation of your strategic planning process.   

1. Keep the planning process flexible

With ever-changing business environments, a one-and-done approach to strategic planning is insufficient. Your strategic plan needs to be adaptable to ensure its relevancy and its ability to weather the effects of changing circumstances.  

2. Pull together a diverse group of stakeholders

By including voices from across the organization, you can account for varying thoughts, perspectives, and experiences at each step of the strategic planning process, ensuring cross-functional alignment .  

3. Document the process

Continuous documentation of the strategic management process is crucial in capturing and communicating the key elements of strategic planning. This keeps everyone on the same page and your strategic plan up-to-date and relevant.  

4. Make data-driven decisions

Root your decisions in evidence and facts rather than assumptions or opinions. This cultivates accurate insights, improves prioritization, and reduces biased (flawed) decisions.  

5. Align your company culture with the strategic plan 

Your strategic plan can only be successful if everyone is on board with it — company culture supports what you’re trying to achieve. Behaviors, rules, and attitudes optimize the execution of your strategic plan.  

6. Leverage AI 

Using AI in strategic planning supports the development of an always-on strategy — amplifying strategic agility, conducting comprehensive environmental scans, and expediting planning phases. It can streamline operations, facilitate data-driven decision-making, and provide transparent insights into progress to drive accountability, engagement, and alignment with the strategic plan.

The strategic planning process in a nutshell

Careful strategy mapping is crucial for any organization looking to achieve its long-term goals while staying true to its mission, vision, and values. The seven steps in the strategic planning process outlined in this article provide a solid framework your organization can follow — from clarifying your organization’s purpose and developing a strategic plan, to implementing, monitoring, and revising performance. These steps will help your company meet goal measurements and create an always-on strategy that's rooted in the present. 

It’s important to remember that strategic planning is not a one-time event. To stay effective and relevant, you must continuously monitor and adapt your strategy in response to changing circumstances. This ongoing process of improvement keeps your organization competitive and demonstrates your commitment to achieving your goals.  

Quantive empowers modern organizations to turn their ambitions into reality through strategic agility. It's where strategy, teams, and data come together to drive effective decision-making, streamline execution, and maximize performance.  

As your company navigates today’s competitive landscape, you need an Always-On Strategy to continuously bridge the gap between current and desired business outcomes. Quantive brings together the technology, expertise, and passion to transform your strategy from a static plan to a feedback-driven engine for growth.  

Whether you’re a visionary start-up, a mid-market business looking to conquer, or a large enterprise facing disruption, Quantive keeps you ahead — every step of the way. For more information, visit www.quantive.com . 

Additional resources

How top companies are closing the strategy execution gap, strategy execution in 4 steps: keys to successful strategy, 7 best practices for strategy execution, why your business needs strategy execution software, subscribe for our newsletter.

Strategic Management

(15 reviews)

Kennedy B. Reed, Virginia Tech

Copyright Year: 2020

ISBN 13: 9781949373950

Publisher: Virginia Tech Publishing

Language: English

Formats Available

Conditions of use.

Learn more about reviews.

Reviewed by Jiwon Suh, Assistant Professor, University of Texas at Arlington on 3/7/24

This book covers core topics that should be included in a strategic management textbook. I particularly like that the book has a chapter devoted to corporate governance, ethics, and social responsibility. I hope to see that vertical and horizontal... read more

Comprehensiveness rating: 4 see less

This book covers core topics that should be included in a strategic management textbook. I particularly like that the book has a chapter devoted to corporate governance, ethics, and social responsibility. I hope to see that vertical and horizontal alignment within an organization is highlighted at the beginning of the book. I see it in Chapter 10.

Content Accuracy rating: 5

This book contains core and major models, concepts, frameworks, and theories that should be included in a strategic management textbook. Especially, this book also explains a balanced scorecard and its linkage with organizational mission and vision.

Relevance/Longevity rating: 5

The main content is highly relevant. The concepts and frames that are included in the book are not fast-changing. This book uses a variety of examples to explain concepts to help students understand. These examples are a good mixture of timing (old and relatively new) and I believe such examples should be aged well to evaluate.

Clarity rating: 5

This book was well-written. This book uses clear language so that students including undergraduates can easily follow.

Consistency rating: 5

This book is consistent with all the structures and contents that are expected in the strategic management textbooks.

Modularity rating: 5

The topics in this book are well divided into 11 chapters so that faculty members can easily develop a semester-long course. On page 2, the authors also provide 6 modules on how these chapters can be used in a shorter course.

Organization/Structure/Flow rating: 5

The way of chapter sequencing is easy to follow: understanding strategic management -> external analysis -> internal analysis -> strategy development -> implementation. Every chapter provides ‘Learning Objectives,’ ‘Key Takeaway,’ and ‘Exercises’ from which students can effectively learn about the topics in the chapters. Also, figures, pictures, videos, and other sources are very helpful.

Interface rating: 4

External sources were hyperlinked with the original sources. This book also provides enough space between paragraphs and the next sections. This helps readers. It would be very helpful if the book included an Index at the end of the book.

Grammatical Errors rating: 5

I didn’t find any grammatical errors.

Cultural Relevance rating: 5

This book uses examples from different cultural backgrounds, such as an example of ancient China and wars on Russian soil on pages 18-20 and an example of Starbucks in Korea on page 33.

I'd like to use this book for my Strategic HR management course in the public and nonprofit sectors. Although this book doesn't 100% fit my course, I can use this book to explain and provide core/major concepts of strategic management.

Reviewed by Sergiy Dmytriyev, Assistant Professor of Management, James Madison University on 9/10/23

The textbook covers all key topics in the strategic management such as overall strategy, business- and corporate-level strategies, the analysis of external and internal environments, international strategy, organizational design, innovation, etc.... read more

Comprehensiveness rating: 5 see less

The textbook covers all key topics in the strategic management such as overall strategy, business- and corporate-level strategies, the analysis of external and internal environments, international strategy, organizational design, innovation, etc. Each sections ends with the reference list of the cited sources, and the Glossary of key terms is provided at the end of the book.

The book is well-written which makes it an easy read.

The content is up-to-date, with plenty of contemporary business situations and examples. At the same time, these examples are of general nature and can be used in a classroom for many years ahead, without become obsolete. Having said that, the textbook also has a number of historical examples which is a must to have in order to learn from strategic successes and failures.

The text is written in a more informal way than in some other strategic management textbook. This makes this textbook better perceived by undergraduate students, who are rather more excited by its interesting and accessible prose.

Consistency rating: 4

The textbook utilized common terminology and frameworks used in the strategic management field, and is consistent throughout the whole text. The only thing, sometimes I could have a feeling that there were many interesting narratives and examples, but some of them might not be well connected among themselves, which could make the reading slightly less coherent, though it wasn't a big deal.

Indeed, the text is readily divisible into smaller reading section since many of them start and end in a similar fashion making them standalone pieces. I didn't find many self-references which serves the modality purpose well.

The book is well organized in terms of the sequence of introduced topics and the transitions between them.

Interface rating: 5

The textbook offers an easy-to-follow navigation structure such as a numeration for each section/subsection as well as consistent headings' styles and the use of colors and graphical designs.

I didn't find any grammatical errors or typos in the text which speaks to its high quality.

Cultural Relevance rating: 3

The textbook is full of various examples from different countries which helps keep the reader's mind open to insights from different cultural environments. Yet, I wish there would be more examples with female and minority managers - I realize that today those groups are still underrepresented in leadership roles, but the author could have considered purposefully selecting those stories/backgrounds which may appeal to and inspire different audiences.

Most sections in the textbook end with discussion questions (often provoking ones) which can help with kicking off interactive discussion in class. The key information is summarized in the form of tables or graphs that make it easy to review the summarized learnings. There are also many videos throughout the book which can help break the monotony of reading with interesting visual experiences.

To sum it up, the textbook offers a typical content for a strategic management textbook (in terms of key strategic topics, terminology, theories and frameworks, etc.), yet it does it in a more appealing way compared to some more "formal" available textbooks in the market. In addition to offering discussion questions and exercises at the end of each section, the textbook also utilizes a more accessible prose for undergraduate students, as well as provides many illustrative or summary tables and graphs, as well as short business stories and videos done in an interesting way.

I really like the textbook and this year I started using it in my Strategic Management course.

Reviewed by Jeffrey Gale, Professor Emeritus of Strategic Management, Loyola Marymount University on 4/10/23

[Note: I used the book in my Strategic Management class in Spring 2023 semester. I have, in the past, used the open textbook, Mastering Strategic Management on which this one is based as well as a commercial version of the text which was picked up... read more

[Note: I used the book in my Strategic Management class in Spring 2023 semester. I have, in the past, used the open textbook, Mastering Strategic Management on which this one is based as well as a commercial version of the text which was picked up by a pubisher.] The coverage in the book is pretty standard for Strategic Management texts. It's a little light on implementation/execution particularly on reward systems, strategic leadership and a bit on culture. Like most of the texts, it really doesn't cover the online world. Because it was done in 2020 and used some of the materials some of the materials need newer examples--and to reflect lessons of the pandemic and de-globalization (in Chap. 9) There is a glossary but no index.

The coverage of the book is accurate in the concepts handled.

Relevance/Longevity rating: 4

All strategic management textbooks suffer from obsolescence--it is the nature of the subject matter and the need for ongoing revision of relevant examples. The concepts change more slowly. Use of the book requires instructors to fill that in to make the material relevant. The prior book (from 2020) was not updated for years which made it hard to use. Hopefully this one will be.

The book was extremely well-written and edited. This is remarkable since there was a team who worked on it at VPI. Kudos for doing a good job.

It is consistent. The framework used is very standard in strategic management texts.

The book is well done with coherent chapters and headings and subheading breaking up the text. I was able to use some of the materials out of order.

Strategic management textbooks lend themselves to a logical organization based on the analytic process common to the topic. This book is consistent with that. I did find that references and credits, which are listed in the chapter sections, are a bit distracting and would be better, in my opinion, at the end of the chapters. Likewise, I would prefer that the Exercises be at the chapter end as well. Learning Objectives at the beginning of each chapter are useful as well as the Takeaways in the sections.

My students and I used the PDF version of the book which is pretty standard with only limited jumps for Table of Contents. .

I didn't find any grammatical errors.

Cultural Relevance rating: 4

I did not see anything culturally insensitive or offensive in the book. There is, as is typical in the texts in the field, not a lot of cultural variety. There are no Black or Hispanic business in the examples.

The book did what I wanted it to in the course. I thought that Chapter 7 on Innovation is a bit of a hodge-podge of topics and doesn't flow all that well. The Powerpoint slides that the author made available are very uneven and I wasn't able to really use them--though I didn't really need to since I have taught the course for so long. They are not the equivalent of what commercial publishers provide with their texts. I did not use the text bank that is also available.

Overall, a good quality textbook that is usable with the caveats I raised earlier.

Reviewed by Stephen Horner, Associate Professor, Allen Community College on 6/9/21

Chapter one is a good an example of the type of comprehensiveness that I like. The text addresses most of the major models and concepts within the strategy domain. It also includes examples of strategy and strategic management from antiquity and... read more

Chapter one is a good an example of the type of comprehensiveness that I like. The text addresses most of the major models and concepts within the strategy domain. It also includes examples of strategy and strategic management from antiquity and classic military history encompassing ancient, modern, and postmodern eras. In addition, the critique of strategic management is refreshing to see in an introductory textbook chapter.

I find no glaring inaccuracies.

The cross disciplinary relevance of the text is demonstrated by allusion in chapter one to strategy throughout history. The text also has relevance in terms of relating the topic to contemporary issues.

This text is written at a basic level easily accessible to the common reader and especially suited to today's college senior.

The text uses the A-F-I framework consistently throughout.

The chapter topics are organized following the traditional analysis-formulation-implementation (A-F-I) framework allowing the course to be easily divided into modules. In addition, the authors have developed their own modular framework overlaying the A-F-I model.

The text uses the traditional analysis-formulation-implementation framework while taking a critical asssessment of the use of that framework.

The layout and flow of the text are satisfactory. In addition, I appreciate the smaller chunks in each chapter supplemented by references cited only in those specific chunks.

The writing demonstrates no systematic grammatical difficulties. The use of the Engish language is proper and acceptable.

The authors recognize changing sociocultural values and demonstrate sensitivity of the theory and practice of strategic management to such changes.

I found the text to be quite readable. It spawned in me new ideas for ways of reaching my students.

Reviewed by Yuan Li, Assistant Professor, James Madison University on 5/29/20

The text covers all major topics discussed in a standard strategic management textbook. Some topics that could be included or discussed more in detail are strategic leadership, innovation management, and corporate entrepreneurship. The pdf version... read more

The text covers all major topics discussed in a standard strategic management textbook. Some topics that could be included or discussed more in detail are strategic leadership, innovation management, and corporate entrepreneurship. The pdf version of the text does not include an index or glossary, which can be an enhancement to the book.

The content is accurate, error-free, and unbiased. However, there are a few typos in the book. Some of the labels are incorrect. For example, Level 3 of Table 10.4 is labeled incorrectly.

The content is up-to-date. For the most part, the examples are classic and do not need to be updated frequently. However, some of the examples, especially those related to movies are dated. Nevertheless, necessary updates can be easily implemented.

One of my favorite things about this text is its clarity. The text is written in a language that is accessible to all undergraduate students, including freshmen. Jargon and technical terms are explained in layman’s terms using real-world examples.

The text is internally consistent in terms of terminology and framework.

The chapters of the text are self-contained and can be individually assigned to students or used as additional readings to supplement a different text.

The structure of the text is clear and follows the structure of a standard strategic management textbook. The only difference is that international strategies are discussed before corporate-level strategies. Many of the tables and the text repeat each other. I think some of the tables can be eliminated.

There are no significant interface issues in the text. There are no hyperlinks in the pdf version of the book. All navigation is done through the search and find function of the pdf reader. The text in the examples and vignettes is too small and hard to read, at least for the pdf version I have. Overall, I would describe it as a no-frills text.

The text contains no grammatical errors.

The text is not culturally offensive in any way. The examples include both American and non-American firms mostly competing in the US market.

This is a great book for an introductory level strategic management class. Students do not have to be a management major to understand the book. Instructors can easily supplement the book with examples that are relevant to the background and major of their students. I find the book an interesting and enjoyable read. The authors did a great job in making strategic management interesting to students.

Reviewed by David Flanagan, Professor of Management, Western Michigan University on 12/12/19

This book covers all the major topics needed in a strategic management course plus a few other useful topics. read more

This book covers all the major topics needed in a strategic management course plus a few other useful topics.

First rate book. Easy to read with no errors (conceptually or grammatically).

All the conceptual information is up to date. I do have students do assignments where they research more recent examples.

Students comment that it is straight forward and easy to read. Key concepts are defined.

The text flows well from start to finish.

The chapters break up the material well as do sections within chapters.

good structure

easy to interface with

Well edited and credibly written

I detected nothing that could be insensitive

The authors are outstanding in their field. Can't find more credible sources.

Reviewed by Jason Kiley, Assistant Professor, Oklahoma State University on 5/21/18

Overall, the book has very good coverage of the topics typically included in a strategy textbook. To be more specific, I reviewed the book against a commercial book that I have used in the past. I looked at 43 topics that is a union of the content... read more

Overall, the book has very good coverage of the topics typically included in a strategy textbook. To be more specific, I reviewed the book against a commercial book that I have used in the past. I looked at 43 topics that is a union of the content I would use across the two books. The commercial book covered 41 topics, and Mastering Strategic Management ("MSM") covered 39. Of the discrepancies, three topics in the commercial book and one topic in MSM were topics that were probably timely when written but are less relevant now. Excluding those, each book had one topic that I would have liked to have seen in the other.

Across a number of topics, the exposition that fit my expectations about the material covered, explanations of the material, and examples that fit the material. Strategy covers a number of models that have been around for some time, and the authors seemed to do a good job of thinking about which models are reasonable to describe as they were conceived and which ones should be adjusted a bit to better reflect the underlying mechanisms or modern circumstances.

One small exception (shared in most strategy books) is the description of the BCG matrix using market share (as originally conceived). That notion is very sensitive to specification of markets, and I've seen more helpful formulations that describe it a little more generally as having dimensions that reflect using and generating cash.

The main content is fine and highly relevant. However, there are some examples which have not aged well. This is not so much the fault of the authors, as the business-relevant content is fine, but an example using Jared from Subway reads very differently in light of subsequent revelations. That is perhaps the most glaring, but there are a few others that have not aged well (e.g., the AppleTV has become reasonably successful in subsequent iterations). That said, this book is well within the norms of example relevance over time.

The book is written directly and clearly. In terms of style, it is more approachable than some alternatives, in part because I never got the sense that the authors were lowering the information density to produce more text.

Terminology and approach are generally consistent. Strategy is at the intersection of other disciplines, so there is often a change of perspective, but that comes with the content. That said, the authors have combined those well into a logical, consistent narrative.

For the most part, this book would be easy to use out of order or as selections. The chapters have numbered subdivisions that are logically coherent, and, in my view, it would be clear to students to assign selections. My initial read suggests that the brief motivating examples to begin chapters and the conclusions of chapters would be helpful to include even if the middle sections are selected from or reordered.

Overall, the organization and flow are consistent and logical, and it generally mirrors that of most strategy books. In a couple of places, the ordering is a bit different (e.g., international strategy before corporate-level strategy), but the broader logic may actually be more linear that way.

I used the epub 3 version of the book. The table elements tended to be built with markup instead of images, so they rendered nicely on a high-resolution display. Cross references were often done with links, and many text boxes were also done with markup, so the book takes advantage of the technology it uses for distribution. Given the prevalence of mobile devices among students, this is a strong positive for this book compared to others.

The writing is clear, error-free, and straightforward, including the consistent use of active voice.

Though the book (like many strategy and business textbooks) has a somewhat US-centric presentation, there are plenty of examples that include diversity along a number of dimensions where that kind of diversity is not the topic of the example. That broad level of inclusiveness is a positive for the book.

Overall, I found the book to be consistently high in quality, coverage, and consistency with other books in this area. Using it as an alternative or replacement for other books should be straightforward. The anonymous authors have done the field and our students a real service in writing this book.

Reviewed by Jiyun Wu, Associate Professor , Rhode Island College on 5/21/18

The book covers key areas of strategic management, much like other strategic management textbooks. read more

The book covers key areas of strategic management, much like other strategic management textbooks.

The content is accurate, though there are a few typos.

Relevance/Longevity rating: 3

The examples are a few years old and need to be updated.

The book is very lucidly written. I think it is one of the best written textbooks.

The book is internally consistent in terms of terminology and framework.

The text is easy to follow.

The topics are organized well and easy to follow.

I didn't encounter any problem with navigation.

I did not detect any grammar errors, although I did find a few typos.

The book is culturally relevant.

Please update the examples and correct the few typos in the text.

Reviewed by Edward Ward, Professor, Saint Cloud State University on 2/1/18

Relative to the other textbooks I have used in my strategic management course, this textbook is comprehensive. Topics include analyzing the environment, leading strategically, selection of business level strategies, ethics, organization design,... read more

Relative to the other textbooks I have used in my strategic management course, this textbook is comprehensive. Topics include analyzing the environment, leading strategically, selection of business level strategies, ethics, organization design, and more. However, it does not have a separate chapter about small business strategy.

This book is accurate as evidenced by the frequent references from both research journals and practitioners' publications. There is little in the way of the author's opinions, rather facts are emphasized.

The relevance of the book is excellent in that historical examples are often used, which by definition will not need to be updated. The examples of recent strategy uses (e.g. a goal by Coca-Cola on page 40 is for 2012) are in need of only slight modifications.

This is the paramount strength of the book. When the vocabulary (i.e. jargon) of strategic management is used, facile explanations and examples are used to clarify the term. An example is Figure 2.5, which explains financial performance measures for students who did not major in finance or accounting.

What is admirable as to the book's consistency is it's sequence of chapters, such as starting with "Mastering Strategy" as chapter one, through "Selecting Business Level Strategies" in the middle of the text, and concluding with corporate governance and ethics. There is also consistency in terms of the key takeaways and exercises throughout the book.

This is another strength of the book. For example, in clarifying "Entrepreneurial Orientation" sections such as "Autonomy", "Competitive Aggressiveness", and "Innovativeness" are presented in small sections that in total describe the term. This is done consistently in the book, such as in chapter eight the terms vertical integration, backward vertical integration, and forward vertical integration.

The topics are presented in a deductive order, starting with a superordinate term such as "Strategies for Getting Smaller", followed by retrenchment and restructuring. By describing a construct by its dimensions, the construct is more readily understood by students.

I don't think there are any such problems.

There are not any grammatical errors. I do think the reading level is for undergraduates rather than MBA students.

The photographs and examples are varied in terms of surface characteristics.

It is superior to my present textbook in terms of being written in a conversational style, which is complemented by useful tables such as 8.7 on page 293. These tables and other graphics will assist students with a visual learning style. The only negative that comes to mind is if this textbook is to be used for a MBA course, outside readings will need to be assigned.

Reviewed by Jorge Zazueta, Adjunct Professor, American University on 2/1/18

The book covers all the standard topics in Strategic Management in a well-structured and cohesive manner. The table of contents provides detail on contents and the interactive PDF version is an excellent way to navigate the text. Electronic... read more

The book covers all the standard topics in Strategic Management in a well-structured and cohesive manner. The table of contents provides detail on contents and the interactive PDF version is an excellent way to navigate the text. Electronic versions are searchable, obviating the need for an index.

I didn't find any inaccuracies or biases in the text (although I ran into a few minor typos). Each concept follows a critical discussion inviting the reader to reflect on the topic, rather than being dogmatic.

The topics covered are well established Strategic Management ideas with direct application in actual business practice, making the content both relevant and time enduring.

Clarity rating: 4

The book is clearly written and enjoyable. It provides straight commentary on the ideas discussed and is very easy to read. A minor drawback is that it lacks memorable design around many of the classic frameworks. For example, when discussing the diamond model in chapter 7, its elements are defined in the form of a table--rather than in a diamond shape.

The narrative is consistent throughout both in depth and style.

While the content follows a logical path, chapters are concise and mostly stand-alone, making it easy to use individual chapters or to tailor content for a class.

The topics follow a standard order of ideas in a consistent and logical flow, while maintaining modularity.

The interactive PDF version is clean and easy to use. A comprehensive table of contents is always available without being intrusive and the book is fully searchable. Making it convenient for student research or review. A keyword search results in a list of references to different chapters in the book, with a short summary of the content discussed.

Grammatical Errors rating: 4

Other than a few minor spelling typos. I found no errors.

The nature of the book is mostly transparent to cultural issues. Examples are business focused and do reflect a wide world view.

It is a great introductory text to Strategic Management. It covers all the standard material in a concise, easily accessible way. I would have enjoyed a bit more quantitative material, such as basic formulas from economics or discussions about how to quantify market competitiveness for example. Perhaps, that´s the material for a second book….

Reviewed by Bill Rossman, Instructor, Penn State University on 2/1/18

The book covers the major topics expected to be covered in a strategic management textbook. read more

The book covers the major topics expected to be covered in a strategic management textbook.

The material covered in the textbook is accurate and error-free.

Th material is up-to-date, however, some of the examples in the book could quickly become outdated. For example, there is an example referencing a 2001 movie which students may not understand. The book could easily be updated to keep examples up-to-date.

The book is clearly written without unnecessary jargon. Definitions for key terms could be emphasized to help students identify key terms and concepts. Additionally a glossary would be beneficial for students to quickly reverence the definition of key terms.

The book is consistent with other texts on the topic of strategic management.

The book is modular and chapters could be reorganized without issue. Instructors could assign chapters or subsections as they see fit without loss of educational value.

The book flowed well, the only change I would make is to move the corporate-level strategies to follow the business-level strategies. The instructor could easily make this change when assigning chapters in the textbook.

I did not encounter any issues with the interface of the textbook. The location of charts and images were appropriate and supported the material.

The book was free of grammatical errors.

The text was not insensitive or offensive.

Supporting material such as glossary, online assignments or self check exercises could be included. Overall, the book is well thought out and easily adaptable for instructors to use.

Reviewed by Sam Cappel, Professor, Southeastern Louisiana University on 6/20/17

I found the book to be comprehensive, covering in detail important parts of strategic management. read more

I found the book to be comprehensive, covering in detail important parts of strategic management.

I found the book to be accurate and well referenced. Examples were used which were most instrumental in helping students to understand important concepts.

The text is written and/or arranged in such a way that necessary updates will be relatively easy and straightforward to implement. Many of the examples used are classic or very timely. It would require little work to update concepts and examples.

The book is written without unnecessary jargon. Terms commonly used in the study of Strategy are fully explained.

The framework of the book allows for easy transitions from one topic to another. Throughout the book there is consistency in the straight forward approach to topics. There is a consistent attempt within this book to explain complex concepts in such a way as to allow undergraduate students to master them easily.

Modularity rating: 4

The text is well divided into a logical sequence of intuitively developed reading sections. Sections within the book serve to reduce confusion which can occur when learning a subject area with the diversity and complexity of Business Strategy

Organization/Structure/Flow rating: 4

I like the flow of the text but prefer a flow which started by simply following the strategic management process step by step.

I had no issues with the interface of the textbook. Navigation was simple and charts were well placed and clear.

I found no grammatical errors i the text.

Culturally the book was sensitive in dealing with issues such as ethics and the role of diversity in the workplace.

With the current push for on-line offerings I feel that it is now imperative that offerings include test banks, power-points, on-line readings, films and perhaps simulation tools that can be used on-line. I love the book for in-class use but feels that it does not offer enough support to be viable for extensive on-line offerings,

Reviewed by Cynthia Steutermann, Multi-Term Lecturer, University of Kansas on 8/21/16

This book does a somewhat good job of covering many aspects of strategic analysis. For instance, the discussions relative to cost leadership, differentiation, and focused strategies were good. However, I found this book to be lacking in critical... read more

Comprehensiveness rating: 3 see less

This book does a somewhat good job of covering many aspects of strategic analysis. For instance, the discussions relative to cost leadership, differentiation, and focused strategies were good. However, I found this book to be lacking in critical discussion areas, such as the importance of evaluating a firm's internal financial assets. While it mentioned current ratio, debt to equity ratio, and net income .. it does not show how to calculate those ratios. And, there are many, many more financial ratios that should be covered in great detail to effectively analyze an organization's internal financial capabilities. This was an area I would consider to be seriously lacking in content.

Other critical areas missing from this textbook were the discussion of entrepreneurial strategy and competitive dynamics, as well as managing innovation and corporate entrepreneurship. Likewise, this textbook did not include any strategic management cases which greatly supports a student's ability to apply concepts to a multi-page case of an organization they may be familiar with.

Also, while there was included on the website a table of contents, no such table of contents exists in the .pdf version that students would actually use. In general, this book is not written at the level of sophistication and comprehensiveness I would expect to use for college students, particularly since a strategic analysis course is often taught as a capstone course (undergraduate senior level of student). In my opinion, this textbook is written more at the senior in high school or college freshman level.

Content Accuracy rating: 4

The book's accuracy is adequate, although there are many areas of strategic analysis which I would consider to be missing in this textbook.

The one area of relevance and longevity I found to be questionable was the various references to "At the Movies". Some of the movies are quite dated and students may not have even heard of them. Or, if they have heard of the movie, they may not have seen it. While the intent seems to be a creative way to illustrate basic concepts, the use of movies is not (in my opinion) the most relevant way to accomplish this, at least to the extent that this is repeated throughout the textbook.

The book is written clearly, although not at the college reading level I would expect it to be written at.

Consistency rating: 3

The text is inconsistent since it references certain figures that actually do not exist. For instance, the Boston Consulting Group (BCG) matrix is referenced to be in figure 8.7. There is no BCG matrix figure, nor any figure 8.7. In fact, there are very few figures in the book. There are some pictures (unidentified mostly) but no figures that illustrate important concepts.

The book's modularity is done well. Within each chapter there are several smaller reading sections.

The book's organization/structure flow is generally good. I believe the organization and flow would be better if corporate-level strategies followed business-level strategy, and then the chapter about international markets would follow after that. This textbook, instead, has business-level strategy, international markets, then corporate-level strategy.

The images are generally not distorted, although on page 172 the Arby's graphic and text are out of proportion. Page 177 includes some type of graphic that is only shades of grey. I don't know what that is intended to represent.

The text contains no grammatical errors that I observed.

The text is not culturally insensitive or offensive in any way that I observed.

Reviewed by Daniel Forbes, Associate Professor, U. of Minnesota on 6/10/15

The book covers most of the chapters commonly found in a strategy textbook, and the content within each chapter is also similar in terms of the key topics & models addressed. One exception is strategic entrepreneurship, which is not covered as... read more

The book covers most of the chapters commonly found in a strategy textbook, and the content within each chapter is also similar in terms of the key topics & models addressed. One exception is strategic entrepreneurship, which is not covered as a separate chapter as is often the case but is instead partially covered under "Entrepreneurial orientation" within Chapter 2, "Leading strategically". Another exception is that there is only one chapter on corporate strategy, whereas many books have a second chapter on strategy alternatives (M&A, etc.). However, some of this content has been folded into the corporate strategy chapter. The PDF I reviewed did not contain a glossary or index.

The book provides an accurate introduction to contemporary strategic management. The authors' perspective is consistent with mainstream scholarly views in the field.

Most strategy textbooks tend to gravitate towards concepts and models that have a relatively long "shelf life," and this one is no exception. The book contains current examples and timely content. The book also does a good job presenting strategy in ways that undergraduate students, in particular, will find relevant. It does this through an emphasis on familiar, everyday brands (Facebook, Redbox) and through cultural references, such as its "Strategy at the movies" segments, which link concepts in the book to recent popular films.

The book is written in clear and accessible prose, and it carries a sense of humor. At times I would have liked to see clearer definitions that were easier to find in the text (e.g., highlighted or placed in sidebars). For example, the concept of "cost leadership" is introduced with good examples, but a concise definition seems lacking. Having clear definitions on key concepts is helpful to students studying for exams and for faculty who want to check concepts for consistency across materials without re-reading entire sections.

The book is internally consistent. It provides a framework for understanding strategy that is coherent and, at the same time, generally consistent with other major texts.

The text seems modular, and reorganizing the material is unlikely to pose a problem. It would be easy to rearrange the materials within a strategy course - provided, of course, that foundational concepts (e.g., "capabilities") have been established early on, as would be required in working with any major strategy text.

The book's flow is logical and it adheres to a structure that is common in strategy texts. One slightly unusual sequencing is the presentation of international strategy before corporate strategy (the reverse is more common), but these two chapters remain adjacent and there is a reasonable case for doing this. Given the overall modularity of the book, moreover, instructors can rearrange chapters as they see fit without much difficulty.

The interface reflects the thoughtful and creative selection of accompanying visual materials, especially photos and illustrations. There are fewer charts and tables than in the average strategy text. Some instructors and MBA students might find the text easier to navigate with fewer visual interruptions overall and perhaps more data or charts included in addition to the pictures. Overall, I think this interface that would be well received by undergraduate students, in particular.

The book's grammar is fine.

The book does not appear to be culturally insensitive. Examples are drawn primarily from the U.S., as is common in many major strategy texts, but there are also many examples drawn from outside the U.S.

Overall, I think this book is a very solid and worthwhile contribution to the set of available strategy textbooks. A particular strength of the book is its accessible writing style and its selection of "user-friendly" illustrations and examples. I think the book would be especially well-suited to first-time students of strategy who seek a general introduction. I also like that the book avoids delivering long, arbitrary lists of items in presenting material (e.g., "the nine reasons firms do acquisitions"), which is a common weakness of strategy textbooks. Instead, this book is generally succinct and reasonably comprehensive. At the same time, instructors & students seeking a more advanced treatment of strategy may find coverage of some topics to be relatively light. For example, limitations of the 5 Forces model are only briefly addressed and issues of industry evolution do not seem to be addressed.

Reviewed by David Try Ph.D., Instructor , Northwest Community College on 10/9/13

I found this text to be well-written and high quality, with up-to-date material, examples and case studies. In my experience, both as an instructor and retired practitioner, this textbook covers all basic concepts and topics at an appropriate... read more

I found this text to be well-written and high quality, with up-to-date material, examples and case studies. In my experience, both as an instructor and retired practitioner, this textbook covers all basic concepts and topics at an appropriate depth for an Introduction to Business Strategy/Policy course. The backend - index, glossary, on-screen reader and search engine - were accurate and faultless.

Diagrams, tables and case studies were up-to-date, professional quality and accurate. I found the text well supported by the supplemental teaching resources (quizzes, PowerPoint's, teaching notes, etc.) As with any USA based textbook, and to be fair hardly unique to this one, the content is USA-centric. Examples and in-text case studies do tend to examine issues through the lens of USA companies, and occasionally USA laws/regulations. Within this caveat, all material was well-edited, error-free, unbiased and including appropriate supplemental instructor material.

As with most introductory courses, the basic components of Business Strategy tend not to change rapidly. New tools, techniques, occasionally fads, as well as the inevitable rebranding (i.e. Management by Objectives [MBO] becomes Outcome Based Key Performance Indicators) are adopted by Business relatively slowly. The textbook covers certain recent advances in strategic and policy, as appropriate for a textbook at an introductory level. Looking forward, advances to this textbook would tend to focus on maintaining current and timeliness of in-text examples, update trends and data, and incorporate emergent strategies which could emerge in response to changing economic, business or global events, such as a global recession.

The textbook to be quite readable and engaging, and makes good use of current business examples. Terms and business jargon are properly defined, both within the text and by using small ‘call-out' (?) boxes on the side of pages and through the use of examples.

The concepts and ideas in the textbook are presented in a clear and logical order. Terminology is used consistently. As well, I found the ‘readability' of the textbook to be internally consistent – with no sense that different authors/editors had writte

The material is covered in 12 chapters, with 2 to 4 sections each, making it easy to assign weekly readings and cover the content within one semester. Chapters are fairly consistent in length and complexity. Instructors have the option to re-organize the course / subject order prior to students downloading the textbook should they wish. The text is not overly self-referential.

The flow or order of idea/concept presentation is consistent to most Strategy texts, and appropriate for an introductory textbook. Within Chapter layout is consistent; each chapter begins with "Learning Outcomes" and concludes with "Key Takeaways" and exercises, which can be assigned as homework.

Neither I, nor any of my students, experienced any interface issues at all. The underlying technology appeared faultless. The navigation process is logical and all images and text were clear and high quality, even on smaller e-reading devices. As well, color use is consistent, assisting in overall navigation. Interestingly, as the first e-textbook for NWCC Business, my students appreciated the ability to perform in-text searches and hyper-link to external electronic references (in text URLs), as well as textbook's cost of course!

I found zero (0) grammatical errors, or ‘broken' URL links. Well edited

This text is not culturally or sexually insensitive, or offensive. Overall, examples are based on business culture with limited applicability on cultural relevance. One chapter focuses on Ethics and Social Responsibility and examines these issues from a strategic perspective, with examples. However, the focus is principally from a business perspective, as compared to social, legal or moral perspectives. As the text is fairly USA-centric, Canadian students may feel that Canadian and possibly Asian business strategies should receive greater emphasis.

Overall, I was very impressed with the quality and professionalism of the text. A ‘newbie' to e-textbooks, I was surprised by the usefulness of additional features available with electronic textbooks (searching, imbedded URLs, etc.). As noted above, the textbook content is somewhat USA-centric. Examples and in-text case studies tend to focus on USA companies, and occasionally USA laws/regulations. However, given the highly integrated nature of Canadian and USA business environments, there is some value in this. And, it was certainly not difficult to incorporate Canadian examples into the Lectures. This review originated in the BC Open Textbook Collection and is licensed under CC BY-ND.

Table of Contents

• I. Chapter 1: Mastering Strategy: Art and Science
• II. Chapter 2: Assessing Organizational Performance
• III. Chapter 3: Evaluating the External Environment
• IV. Chapter 4: Evaluating the Internal Environment
• V. Chapter 5: Synthesis of Strategic Issues and Analysis
• VI. Chapter 6: Selecting Business-Level Strategies
• VII. Chapter 7: Innovation Strategies
• VIII. Chapter 8: Selecting Corporate-Level Strategies
• IX. Chapter 9: Competing in International Markets
• X. Chapter 10: Executing Strategy through Organizational Design
• XI. Chapter 11: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Ancillary Material

• Virginia Tech Publishing

About the Book

STRATEGIC MANAGEMENT  offers an introduction to the key topics and themes of strategic management. The authors draw on examples of familiar companies and personalities to illustrate the different strategies used by today’s firms—and how they go about implementing those strategies. Students will learn how to conduct a case analysis, measure organizational performance, and conduct external and internal analyses. In short, they will understand how organizations operate at the strategic level to be successful.

An older version of Mastering Strategic Management  (2015) by University of Minnesota Libraries Publishing can be found here: https://open.lib.umn.edu/strategicmanagement/

About the Contributors

Reed B. Kennedy, Associate Professor of Practice, Pamplin College of Business, Virginia Tech

Reed B. Kennedy is an Associate Professor of Management Practice in the Management Department, where he teaches management courses. He began his career as a naval officer before entering his primary career in healthcare administration, where he served in senior executive roles in various hospitals for over 20 years. He then worked as a business consultant for the Small Business Development Center for the New River Valley at Radford University. His education includes a Bachelor of Science in Aerospace Engineering from the U.S. Naval Academy, a Masters of Healthcare Administration from Medical College of Virginia / Virginia Commonwealth University, a Masters in Public Health and a Graduate Certificate in Global Planning and International Development from Virginia Tech. Reed served as the chief textbook reviser on this project. He worked with the contributor and editorial teams from project start to completion.

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CEO alpha: A new approach to generating private equity outperformance

Private equity (PE) sponsors and portfolio companies continue to view operational improvements as a crucial lever for realizing outsize returns. 1 Markus Biesinger, Cagatay Bircan, and Alexander Ljungqvist, “ Value creation in private equity ,” European Bank for Reconstruction and Development, September 24, 2020. But there is another important enabler of PE value creation—what we call CEO alpha, or the value created from CEOs’ outperformance. If the PE portfolio company CEO, who calls the shots and makes the strategic decisions, lacks the right leadership capabilities, targeted operational improvements are less likely to be sustained or may never materialize.

McKinsey research shows that top-quintile CEOs have historically delivered total shareholder returns that are 9 percent above industry peers in each year of their tenure. In industries such as financial services and automotive, these high-performing CEOs have achieved excess total annual returns of 16 percent on average. 2 McKinsey analysis.

Against this backdrop, it’s clear that CEO alpha is an idea whose time has come—or is maybe even overdue—in the rapidly evolving PE industry. Private equity sponsors generally agree. They increasingly cite leadership as an important source of EBITDA growth and value creation alongside the usual performance levers (the targeted operational improvements as well as technology innovation, financial leverage, and multiple expansion). Indeed, in a 2022 survey of general partners, 94 percent say they believe PE portfolio company leadership contributed an average of 53 percent toward investment returns. 3 Peter Callas et al., “Leadership alpha in private equity,” Teneo, November 16, 2022.

In our own conversations and work with PE CEOs and sponsors, all acknowledge the importance of CEO alpha and agree that they could, and should, do more to build PE portfolio company CEOs’ capabilities to realize outsize returns. Industry research suggests the same. For instance, among the general partners polled in the 2022 survey, 8 percent say they are committing money, 27 percent say they are deploying resources, and 36 percent say they are putting in the time to optimize PE portfolio company leadership. 4 Peter Callas et al., “Leadership alpha in private equity,” Teneo, November 16, 2022.

What’s more, playbooks  for intentionally building leadership excellence in private equity have been scarce, which represents a huge missed opportunity: investing in human capital now can pay off over the longer term.

To achieve CEO alpha, PE portfolio company CEOs need distinct capabilities—those that go beyond typical leadership traits found among the best public company CEOs —and that account for PE-specific time horizons for investment and exit and speed to impact. In this article, we provide an overview of those capabilities and the ways to achieve them. Whether the CEO is new or an experienced leader, an expert practitioner of PE, or someone with a more diverse background, the essentials of CEO alpha can be customized and adapted to meet their unique context and opportunities.

Why CEO alpha matters in private equity

PE portfolio company CEOs face unique challenges in an already complex role. The level of autonomy in decision making, the degree of focus on EBITDA, and the way that boards govern are different in PE portfolio companies than in other companies. “There is less freedom within strategy setting,” the CEO of a PE-owned healthcare company told us. “Where to compete is also more tightly defined, because of the time-bound nature of investments.” Another PE executive, based in Canada, noted that EBITDA is a central theme in all conversations among the portfolio company CEO, the board, and the general partners.

Changes in the global economy and the broader business landscape have only made the job of these CEOs harder. Private equity is not immune to cyclical economic challenges such as the elevated risks of a US recession, high interest rates, and inflation. It also faces digitization, sustainability, the changing  geopolitical order, and other disruptive trends that are likely to have profound and lasting consequences on the investing ecosystem. These headwinds, coupled with the volatility in financial markets, slowing IPO activity, and falling tech valuations, are weighing on  PE deal flow, fundraising, and performance.

In addition, PE portfolio company CEOs tend to come from varied backgrounds. Some may have a science background or previously led public companies. Often, company founders grow a small business to a certain level, take in private capital, and suddenly find themselves leading a midsize company with very different organizational needs, which they may not have the necessary expertise, experience, and PE-specific core competencies to navigate.

Most leadership development programs are not tailored to the unique needs of this community of CEOs. In fact, in our experience working with PE CEOs, we have not encountered many such programs that have been widely adopted in the industry. The few programs that do exist are usually the result of an enterprising sponsor that is beginning to build a unique capability.

Achieving CEO alpha in private equity

The essentials of private equity ceo alpha.

To achieve CEO alpha, PE portfolio company CEOs need distinct capabilities—those that go beyond typical traits found in all leaders. Below we highlight ten such essentials:

• Talent management to support the investment thesis
• Private-equity-style performance management and dashboards
• Strategic planning within a three- to five-year time horizon
• Board and sponsor governance
• Advanced financial decision making
• Rapid earnings and cash acceleration
• Profit dissection and resource allocation
• Inorganic growth to support the investment thesis
• Value creation through frontier technologies
• Exit and monetization preparation

At the heart of the concept of CEO alpha is the belief that leaders can systematically develop the capabilities required to achieve outperformance. Indeed, PE portfolio companies should design their capability building programs with the essentials of CEO alpha in mind (see sidebar, “The essentials of private equity CEO alpha.”)

A focus on three essentials of CEO alpha, in particular, could help PE portfolio company CEOs address some of their toughest challenges and realize even greater impact: talent management, PE performance management, and strategic planning.

1. Talent management: Building a fit-for-purpose team

Talent management is a top concern within private equity these days. This reflects, in part, the ever-changing competition for talent, but it also reflects the unique executive profiles that PE portfolio company CEOs are targeting, as well as the number of roles they must fill. For example, one PE portfolio company told us that 37 roles among thousands of employees in the organization drove 80 percent of its EBITDA, which prompted senior leaders to change time allocation, managerial focus, and apprenticeship priorities for employees.

Much more than public company CEOs, PE portfolio company CEOs must build their management teams to execute a specific investment thesis. They must find and hire leaders who are execution focused, decision oriented, financially astute and motivated, and able to make consequential decisions quickly. What’s more, PE portfolio company CEOs often have to build and rebuild their teams. For example, on average, they are responsible  for filling between 30 and 40 percent of level-two positions (heads of divisions) and 50 to 65 percent of level-three positions (vice presidents).

As one PE executive said in an interview, “Outside of M&A, people decisions are most important, and getting them right is critical.” McKinsey research supports this point: CEOs who frequently reallocate talent are 2.2 times more likely to outperform their peers, and those that get talent right in the first year achieve 2.5 times the return on initial investment. 5 Claudy Jules, Vik Krishnan, Vivek Pandit, and Jason Phillips, “ A playbook for newly minted private equity portfolio-company CEOs ,” McKinsey, September 24, 2021.

How can PE portfolio company CEOs begin to build capabilities in talent management? Keeping the investment thesis and time horizons in mind, they’ll need to identify the roles that will create the most value for the portfolio company and then match talent to value (whether from inside or outside the company). As one PE leader advised, “Do it fast, and early in your tenure.”

PE portfolio company CEOs will also need to institute performance management processes that set “reverse hockey stick” targets (rapidly making decisions that drive the greatest financial benefits the soonest) and make it easier to monitor organizational performance and address unfavorable variances. For instance, a PE portfolio company may expect 60 to 80 percent of all run-rate benefits targeted over a three-year period to be captured within the first six to 12 months. The performance management process must allow for private-equity-style consequence management and provide upskilling opportunities for leaders.

2. Cascaded performance: Using financial and operational dashboards to run the business

PE portfolio company CEOs must be on top of every performance metric at a level of detail unfamiliar to many public company CEOs. Given the short time horizons for meeting value creation goals, they are expected to continually monitor performance, spot variances, and pivot quickly as needed. It’s important, then, for PE portfolio company CEOs to set up robust performance dashboards (and rules for using those dashboards) that take both people and purpose into account.

At a minimum, the dashboards should enable standard reporting, risk management, and identification of key opportunities. They should yield detailed and dynamic performance reports that take pricing, safety, quality, speed, satisfaction, efficiency, and integrated economics into account. The teams using these dashboards should be clear about their roles and operate within the scope of those roles. And CEOs should ensure that dashboards are used in all decision-making discussions across the organization.

This detailed, holistic approach can yield positive results: one PE portfolio company was looking at controlling high labor costs, but a closer look at the company’s integrated performance dashboards revealed that a lack of world-class safety was actually a big factor in the increased labor costs. With this information, the PE portfolio company CEO was able to successfully divert resources to address both safety and cost issues.

3. Strategic planning: Achieving far more in far less time

All CEOs must help to define their company’s vision and strategy, but the process is different for PE portfolio company CEOs. The PE sponsor typically performs rigorous due diligence on a portfolio company, often over a six- to 12-month time frame, and formulates a specific investment thesis. The PE portfolio company CEO is then hired to execute the sponsor’s thesis in a timely manner. That CEO must partner with the PE sponsor and the board on strategy, ensuring that any changes made will create value within the industry’s typical three- to five-year time horizon for value capture. To achieve CEO alpha in strategic planning, PE portfolio company CEOs must embed strategy into their day-to-day work—that is, in every discussion with sponsors, teams, and other key stakeholders, and in every review of performance outcomes and financial and operational results. Strategic actions in this context must be bold, actionable, and executed quickly. “Public companies build aspirational, long-term, often vague visions,” the CEO of a private debt firm told us. “But PE companies need to have clear, tangible short-term decisions. As a PE CEO, you are almost always given the strategy as part of the value creation plan and expected to refine and execute.”

With the essentials of CEO alpha in mind, sponsors can review their portfolios against their value creation plans to identify where the biggest opportunities and capability gaps are and create fit-for-purpose capability building programs for PE portfolio company CEOs.

The prevailing research and our work with hundreds of PE company sponsors suggest that an increasing number of PE firms are doing just this. They are prioritizing CEO development and leadership effectiveness as the means to generate outperformance. They are starting to put just as much emphasis on recruiting, onboarding, peer learning, succession planning, and performance management as they do on other key levers of value creation.

In short, they are beginning to target the essentials of CEO alpha. And the sponsors that get it right can build portfolio companies that attract and develop topflight CEOs and seed the industry with even more high-end talent for the future.

Marla Capozzi is a partner in McKinsey’s Boston office, Sacha Ghai and John Kelleher are senior partners in the Toronto office, and Kurt Strovink is a senior partner in the New York office.

This article was edited by Arshiya Khullar, an editor in the Gurugram office.

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1993 how the construction company remstroy was created   the year 1993 was a period when a lot of construction companies, which had been working successfully during the soviet times and had rich staff capacity, were forced to cease their activity for various reasons. a lot of capable specialists either had to look for another job or change their field. but there were also those who were willing to realise their potential in the field of construction in accordance with the received degree and the experience they had accumulated. thus, in 1993 in elektrostal (moscow oblast) a group of specialists and people sharing each other’s ideas, who had enormous educational background and the highest degree in architecture, organized and registered ooo firm erg which began its rapid development and successful work, offering its service both on the construction market and other areas. 2000 industrial construction is the main area   seven years of successful work have shown that combining different types of activities in the same company is not always convenient. and in the year 2000 the founders of ooo firm erg decided to create and register a monoprofile construction company ooo remstroy construction company. industrial construction was chosen as the priority area. it was in this area that the directors of ooo sk remstroy began their working life and grew as specialists. in order to achieve the set goal, they selected a mobile team of professionals in the field of industrial construction, which allows us to cope with the tasks assigned to ooo sk remstroy throughout russia and the near abroad. 2010 manufacturing of metal structures   we possess modern equipment that allows us to carry out the entire cycle of works on the manufacture of metal structures of any complexity without assistance. designing – production – installation of metal structures. a staff of professionals and well-coordinated interaction of the departments let us carry out the work as soon as possible and in accordance with all customer’s requirements.” extract from the list of members of self-regulatory organizations, construction.

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40 Facts About Elektrostal

Written by Lanette Mayes

Modified & Updated: 10 May 2024

Reviewed by Jessica Corbett

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

• Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
• With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy, materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes, offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development.

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy, with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

Elektrostal's fascinating history, vibrant culture, and promising future make it a city worth exploring. For more captivating facts about cities around the world, discover the unique characteristics that define each city . Uncover the hidden gems of Moscow Oblast through our in-depth look at Kolomna. Lastly, dive into the rich industrial heritage of Teesside, a thriving industrial center with its own story to tell.

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