Global Strategic Planning for International Business Company

Abstract

Numerous international firms such as 3M company have found it necessary to institute formal global strategic planning to provide a means for top management to identify opportunities and threats from all over the world, formulate strategies to handle them, and stipulate how to finance the strategies' implementation. Global strategic plans not only provide for consistency of action among the firms' managers worldwide but also require the participants to consider the ramifications of their actions on the other environment and functional areas of the firms.