Paths to long‐term performance and strategic planning1. (25th April 2019)

• Record Type: Journal Article
• Authors: Shin, Sang Yoon
• Is Part Of: Strategic change. Volume 28:Number 3(2019)
• Page Start: 203
• Page End: 208
• Publication Date: 2019-04-25
• Subjects: Organizational change -- Periodicals; Strategic planning -- Periodicals; 658.401205
• DOI: 10.1002/jsc.2259
• Languages: English
• ISSNs: 1086-1718

Abstract

Abstract: A firm may ensure sustainability by pursuing long‐term performance through one of the three possible paths: adoption of long‐term perspectives within the existing business, extension into a new business and adoption of long‐term perspectives, and jump into the long‐term new business. Considering temporal dimension and business dimension, a firm pursues four types of performance: maintenance, sustainable growth, diversification, and transformation. Explorative strategic planning as well as exploitative one is required for a firm to successfully manage a balanced pursuit between long‐term performance and short‐term one.