Strategic planning in an era of total competition

Traditional strategic planning is currently under fire. The product of an era of administered competition—a world in which the external environment was relatively simple, stable, and predictable—strategic planning systems were primarily used as control mechanisms to reduce uncertainty and to allocate power. They were internally focused because most of a company's transactions were internal—checks and balances designed to ensure adherence to its success formula—and because competition itself was essentially internal, pitting business units, functions, and individuals against one another rather than against other players in the marketplace.