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Published by: Harvard Business Publishing
Published in: "Harvard Management Update", 1998

Abstract

Many companies have decided that business strategy can no longer be decided in the boardroom and then merely handed down to employees. Success is dependent on obtaining the best market information and acting on it quickly. Employees at all levels are often the best source for this information and are poised to turn this information into results. A key step is recognizing that all workers make decisions that affect a company''s strategy both positively and negatively. This article explains why an expanded strategic planning process makes sense and offers practical suggestions for operating one in your company.

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Abstract

Many companies have decided that business strategy can no longer be decided in the boardroom and then merely handed down to employees. Success is dependent on obtaining the best market information and acting on it quickly. Employees at all levels are often the best source for this information and are poised to turn this information into results. A key step is recognizing that all workers make decisions that affect a company''s strategy both positively and negatively. This article explains why an expanded strategic planning process makes sense and offers practical suggestions for operating one in your company.

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