Paths to long‐term performance and strategic planning | Zendy

Shin Sang Yoon | Zendy

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Paths to long‐term performance and strategic planning

Author(s) -

Shin Sang Yoon

Publication year - 2019

Publication title -

strategic change

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.527

H-Index - 16

eISSN - 1099-1697

pISSN - 1086-1718

DOI - 10.1002/jsc.2259

Subject(s) - term (time) , diversification (marketing strategy) , business , sustainability , dimension (graph theory) , process management , industrial organization , strategic planning , marketing , ecology , physics , mathematics , quantum mechanics , pure mathematics , biology

A firm may ensure sustainability by pursuing long‐term performance through one of the three possible paths: adoption of long‐term perspectives within the existing business, extension into a new business and adoption of long‐term perspectives, and jump into the long‐term new business. Considering temporal dimension and business dimension, a firm pursues four types of performance: maintenance, sustainable growth, diversification, and transformation. Explorative strategic planning as well as exploitative one is required for a firm to successfully manage a balanced pursuit between long‐term performance and short‐term one.

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