Meaning of Short/Long range planning - Peter Drucker

By -
According to Drucker - The Idea of Short - Long range planning is very often misunderstood. They are not determined by any given Time span.

A decision is not short range because it takes only a few months to implement or long range because it takes a year to do so.

What matters is the time span over which it is Effective

Comments

Post a Comment

Popular posts from this blog

When the Leader follows - Lessons from Sailboat racing

By test -
Winning the battle for market leadership is at the heart of competitive strategy. Overtaking the market leader has often been termed “dethronement” in prior literature and is considered a key managerial objective ( Ferrier, Smith, & Grimm, 1999 ;   Smith, Ferrier, & Grimm, 2001a ).   Management scholars across different fields have shown that imitating leaders can be an effective way for followers to catch up with and surpass the leader ( Posen, Lee, & Yi, 2013 ). However, less attention has been given to the possibility of leaders imitating competitor moves and to the performance consequences of such a strategy. This is surprising, since leading firms do leverage imitation strategies in attempts to defend their leadership. For example, Apple, the market leader in smartphones for a number of years, imitated the moves made by Samsung in offering larger screens for iPhones two years after Apple’s chief executive officer (CEO) publicly stated that phones w...
Read more

How Kraft's Shreddies Revamped Itself Without Changing Anything

By anon -
Image
What do you see in the image above? Is it a diamond? Is it a rhombus? Or is it a square, rotated  45°? In 2008, Kraft Foods Canada capitalized on this confusion to revitalize a 78-year-old brand, Shreddies. Sales of this popular breakfast cereal had stagnated. According to a consumer research done in its Canadian market, customers wanted the brand to refresh itself without it changing anything.  How to increase sales of a product that is loved by its customers just the way it is? Kraft Foods accepted the challenge and launched the new & improved Shreddie, the 'Diamond Shreddies'. Hunter Somerville's idea, an intern with Kraft Food's creative agency Ogilvy & Mather Canada, became the basis of this campaign - an 'angular upgrade' to the original Shreddie, devised by a team of 'cereal scientists'.  Diamond Shreddies: Original Square Shreddie rotated 45° Packs of 'Diamond Shreddies' was launched with much fanfare. The ...
Read more

Dollar auction game by game theory pioneer Martin Shubik

By test -
Image
The dollar auction is a non-zero sum sequential game designed by economist Martin Shubik, a pioneer of game theory,  to illustrate a paradox brought about by traditional rational choice theory in which players are compelled to make an ultimately irrational decision based completely on a sequence of apparently rational choices made throughout the game, also known as "escalation of commitment" src wiki A one dollar bill is put up for auction with the following rule: the bill goes to the winner, however the second bidder also loses the amount that he bids. The winner can get a dollar for a mere 5 cents, but only if no one else enters into the bidding war. The second-highest bidder is the biggest loser by paying the top amount they bid without getting anything back. The game begins with one of the players bidding 5 cents (the minimum), hoping to make a 95-cent profit. They can be outbid by another player bidding 10 cents, as a 90-cent profit is still desirable. Similar...
Read more