Strategic planning and management is worthwhile pursuit

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There is an organization that does research and development in the area of new drug discovery. It was founded four years ago and recently licensed the patent for its initial research output to a large pharmaceutical company. It is now in the very earliest stages of work on two additional research projects in related areas. Up until now, the decisions about the scientific focus of the firm’s research efforts have been made by the researchers involved. The patent licensing decision seemed like an obvious way to bring in the significant new financial resources that the firm now enjoys. However, there remains, within the firm, some general uncertainty about the future.

You have been hired as a consultant by the organization’s board of directors to persuade top executives that strategic planning and management is a worthwhile pursuit. The executives have expressed some of the reasons for avoiding any strategic activities up until now. Think of a rational, constructive response to each of those barriers.

Reference no: EM131480907

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