Unlocking Strategic Planning Power: Knowledge Management Key to Success.
The article explores how companies can develop a strong ability to plan strategically by focusing on knowledge management activities. By studying high technology firms in the UK, the researchers found that strategic planning capability comes from sharing information and remembering past decisions. However, using information in a symbolic way can actually harm this capability. The study suggests that managers should invest in spreading knowledge and preserving organizational memory to improve strategic planning. It also warns against misusing information, as this can weaken a company's ability to plan effectively. The research highlights the importance of knowledge management in building a strong strategic planning capability.