Most successful executives know that strategic planning offers the best way to deal with their changing world. Information is central to successful strategic planning. A field study of 5 world-class companies revealed details regarding information used for strategic planning and the role of management accountants in this process. Key executives were interviewed at: 1. Johnson Controls, 2. Coors Brewing Co., 3. Schering-Plough, 4. Xerox, and 5. 3M Company. The executives were interviewed to find out how their companies did strategic planning. Issues addressed included the distinction between strategic and long-range planning, the strategic planning process, information used for strategic planning, and the role of accounting in strategic planning. Results of the field study are discussed.
Akers, Michael D. and Porter, Grover L., "Strategic Planning at Five World-Class Companies" (1995). Accounting Faculty Research and Publications. 67.
Published version. Management Accounting, Vol. 77, No. 1 (July 1995): 24-31. Publisher Link. © 1995 Association of Accountants and Financial Professionals in Business. Used with permission.