Introductory Assignment: In a dynamic business world, phrases such as ‘strategic planning’, ‘marketing planning’ or ‘change management’ are oxymoronic!
Student Number: 1162864
Submission Date: 17 October 2011
Word Count: 782
This work is submitted as a part of the requirements for the MSc in Marketing & Strategy. The work contained in this assignment is my own, individual and original work and has not been used in whole or in part for any assessment on this or any other degree. I have read and understand the university rules on Plagiarism.
In a dynamic business world, phrases such as ‘strategic planning’, ‘marketing planning’, and ‘change management’ are generally used. Such that, these terms are naturally refer to in the business context. In this essay, the definitions and function of each term are defined in order to develop an argument whether these phrases are oxymoronic or not.
The 21st century business world is filled with components that stimulate and encourage organization to transformations and development. Globalization, technologies, and massive competition are only few examples of factors that effect businesses. With rapid changes, every organization is required to adapt itself to both internal and external environment. Businesses are force to compete with each other by differentiating themselves and develop ability to overcome changes. Theories or business instruments such as ‘strategic planning’, ‘marketing planning’, and ‘change management’ are brought along to cluster the actions or concerns in which firms should consider. In order to develop arguments whether these phrases are oxymoronic or not, the terms ‘strategic’, ‘planning’, and ‘management’ need to be defined.
According to the Oxford Dictionary, the word ‘strategic’ means “the identification of long-term or overall aims and interests and the means of achieving them” (Oxford University Press, 2010). In business context, strategic is