VISION AND LEADERSHIP

Five organizational and process requirements for strategic management are defined: the need for a planning framework; the need for strategic thinking throughout the corporation; the need for an open process of negotiating objectives; the importance of defining the performance review system; and the need to develop supportive motivational systems and management values. These requirements form a link between strategic planning and operational decision making in business companies and are necessary for their successful operation. Four companies are reviewed that owe their success to the vision and leadership of their top management.