• ISSN: 2301-3567 (Print), 2972-3981 (Online)
    • Abbreviated Title: J. Econ. Bus. Manag.
    • Frequency: Quarterly
    • DOI: 10.18178/JOEBM
    • Editor-in-Chief: Prof. Eunjin Hwang
    • Executive Editor: Ms. Fiona Chu
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HOME > Archive > 2015 > Volume 3 Number 2 (Feb. 2015) >
JOEBM 2015 Vol.3(2): 161-166 ISSN: 2301-3567
DOI: 10.7763/JOEBM.2015.V3.174

Planning Horizon as a Key Element of a Competitive Strategy

Letycja Sołoducho-Pelc

Abstract—The paper presents existing research results concerning the importance of the long horizon as a key element of competitive strategy. Results of research carried out on a sample of 150 companies were presented, with special focus on those that create precise plans for an over 5-year-long time horizon. Strategic management areas such as strategy formalization, level of strategy expensiveness, competition strategy, organization of work on strategy, familiarity with the strategy and tasks were submitted to detailed analysis. The research helped identify a relation between a clear definition of future vision and the necessity to formalize the strategy; dynamic growth as a strategic priority and having significant competitive advantage; launching products into new market segments, expanding product portfolio and increasing competitive edge; organizing and planning work on strategy and making executive pay dependent upon realization of strategic goals; all employee’s familiarity with the strategy as well as the possibility to clearly allocate all tasks to particular departments in the process of creating and implementing the strategy.

Index Terms—Planning horizon, strategy, competitive strategy, strategic management.

Letycja Sołoducho-Pelc is with the Wrocław University of Economics, Poland (e-mail: letycja.soloducho@gmail.com).

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Cite: Letycja Sołoducho-Pelc, "Planning Horizon as a Key Element of a Competitive Strategy," Journal of Economics, Business and Management vol. 3, no. 2, pp. 161-166, 2015.

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