Question

Research of the planning practices of companies in the oil industry concludes that the real value of modern strategic planning is more

A) in the planning.
B) in the strategic thinking and organizational learning.
C) in the resulting written strategic plan.
D) in the formality of the process.
E) in the improved communication within the organization.

Answer 1

The true value of modern strategic planning in the oil industry lies in the strategic thinking and organizational learning that occurs, rather than the formal written plan or the formality of the process.

Step-by-step explanation:

Research in the planning practices of companies, specifically within the oil industry, indicates that the real value of modern strategic planning lies not necessarily in the creation of a rigid written plan but in the formality of the planning process. Instead, the true value is more profoundly found in the strategic thinking and organizational learning that occurs throughout the process. This notion aligns with the broader understanding of management and strategic studies that emphasize the importance of an iterative planning process, where engaging with real-world complexities, stakeholder interests, and long-term visioning are central to applying academic insights into practical, strategic company actions.