Contemporary issues and future challenges affecting corporate strategic planning include uncertainty, globalization, dependence on others, the need for innovation, complicated government policies and regulations, rapidly changing technology, increasing complexity, difficulties with supply chains, problems with information overload, and managing diversity. Some of the key challenges are dealing with uncertainty in the global environment, keeping up with the exponential pace of technological change, navigating a complex world with many interconnections, and coping with an overwhelming amount of information.

1. MAHARISHIMARKANDESHWAR
UNIVERSITY,MULLANA
TOPIC:-
CONTEMPORARY ISSUES
AND FUTURE
CHALLENGES AFFECTING
CORPORATE STRATEGIC
PLANNING
PREPARED BY GEWAY
BAJUTA

3. WHAT ARE CONTEMPORARY ISSUES
?

4. Contemporary issues can be defined as any
events, ideas, opinions or topics in the
given subjects that are relevant to the
present day. Contemporary issues can be
found in almost any matter of interest.

5. What is STRATEGIC PLANNING
?

6. This is a systematic process of
envisioning a desired future, and
translating this vision into broadly
defined goals or objectives and a
sequence of steps to achieve them.

7. WHAT IS CORPORATE STRATEGIC
PLANNING ?

8. Is a systematic process of determining goals to
be achieved in the foreseeable future of;
1. Management’s fundamental assumptions
about the future economic, technological,
and competitive environment
2. Setting of goals to be achieved within a
specified timeframe
3. Performance of SWOT Analysis
4. Selecting main and alternative strategies to
achieve the goals

9. STRATEGIC PLANNING
PROCESS MODEL

10. STAGE PROCESS
1 DETERMINE MISSION
2 IDENTIFY GOALS
3 UNDERSTAND INTERNAL FACTORS
4 UNDERSTAND EXTERNAL FACTORS
5 PERFORM SWOT ANALYSIS
6 DEFINE STRATEGY

11. WHAT ARE CONTEMPORARY
ISSUES AND CHALLANGES
AFFECTING CORPORATE
STRATEGIC PLANNING ?

12.  UNCERTAINTY
 GLOBALIZATION
 DEPENDENCE
 INNOVATION
 GOVERNMENT POLICIES &
REGULATIONS
 TECHNOLOGY
 COMPLEXITY
 SUPPLY CHAIN
 INFORMATION OVERLOAD
 DIVERSITY

13.  UNCERTAINTY: All human beings, but it
seems business leaders in particular, find
great discomfort in uncertainty.
Uncertainty in the global economy,
uncertainty in the credit markets,
uncertainty in how new regulations will
affect business, uncertainty about what
competitors are doing, and uncertainty
about how new technology will affect the
business—these are just the start of a
never-ending list.

14.  GLOBALIZATION: This is
the process by which
businesses or other
organizations develop
international influence or
start operating on an
international scale.

15.  DEPENDENCE: This is a state of
relying on or being controlled by
someone or something else.

16.  INNOVATION: The process
of translating an idea or
invention into a good or
service that creates value
or for which customers will
pay.

17.  GOVERNMENT POLICIES &
REGULATIONS: A changing
regulatory environment is always of
concern in certain industries, but
uncertain energy, environmental and
financial policy is complicating
the decision making for nearly all
companies today.

18.  TECHNOLOGY: The pace of technological
improvement is running at an
exponentially increasing rate. While this
has been true for several decades, the
pace today makes capital investment in
technology as much an asset as a handicap
because a competitor may wait for the
next-generation technology, which may
only be a year away, and then use it to
achieve an advantage.

19.  COMPLEXITY: There’s no doubt that
life and business will get more complex,
even as certain tasks and activities have
become easier due to information
technology. The global economy is
becoming still more connected, creating a
much larger and more diverse population
of customers and suppliers. Manufacturing
and services are increasingly targeted at
smaller, specialized markets due to the
flexibility that IT provides in these
areas. The 3D printing revolution is a
perfect example.

20.  SUPPLY CHAINS: Because of
uncertainty in demand and the need
to stay lean, companies are
carrying smaller inventories than
ever. At the same time, uncertainty
in supply, driven by wildly
changing commodity prices, an
apparent increase in weather-
related disruptions, and increasing
competition for raw materials makes
supply chain planning more
challenging than ever.

21.  INFORMATION OVERLOAD: It is said that the only
true constant is change, and in today’s world
nothing is changing more, or growing faster,
than information.
A March 2010 estimate put global Internet traffic at 21
exabytes—21 million terabytes. By 2016, global traffic will
reach 1.3 zettabytes, according to a report released in May
2012. Every day, 2.5 quintillion bytes of data are created.
The ability of companies, much less individuals, to consume
and make sense of the information that is available (and
necessary) to make good decisions is becoming a nearly
insurmountable challenge. The problem to be solved is
to deal with this mountain of information with both
technology and human know-how, then to convert this
information into valuable knowledge

22.  DIVERSITY : A particular subset of
human capital planning is found so often
in our research that it is worth its own
mention. Diversity brings many
challenges, as it makes it far more
likely that people do not agree, and the
lack of agreement makes running a
business very difficult. At the same
time, the lack of diversity within many
large company leadership teams leads to a
narrow view of an ever-changing and
diverse world—contributing to groupthink,
stale culture and a tendency to live with
the status quo for too long.