1. Consider the five-step strategic management model which are: external analysis, internal analysis, strategy formulation, strategy execution, and strategic control. Some people argue that strategic planning is a waste of time and the document produced just collects dust on the shelf. Others argue that strategic planning is a useful process. What has your experience been with strategic planning? Where do you stand on this debate?
2. Should executives set aside a time once or twice a year to work through the steps in the model in detail sequentially or should they focus more on constantly assessing situations and making quick strategic decisions? Explain your answer.
3. Review the differences between intended and realized strategies. Why is it so difficult to execute strategies just as they are originally planned? What can be done to minimize the gap between intended and realized strategies?