The Role of Finance in the Strategic-Planning and Decision-Making Process

The fundamental success of a strategy depends on three critical factors: a firm’s alignment with the external environment, a realistic internal view of its core competencies and sustainable competitive advantages, and careful implementation and monitoring. This article discusses the role of finance in strategic planning, decision making, formulation, implementation, and monitoring.

Editor’s Note: I don’t think this article really adds any new learning value or even does a good job meeting it’s stated objective. I include it however, because it does provide a decent high-level look at strategic planning and the role of finance in the balanced scorecard for those who are weak on either of those concepts.

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