We see the present and plan the future – Krishna sees the future and plans the present: Proposition and implementation of a method to identify strategic objectives
DOI:
https://doi.org/10.14392/asaa.2025180206Keywords:
Action research, Strategic planning, Strategic objectives, Operational goals, Balanced scorecardAbstract
Objective: The motivation for this research stems from the clear recognition of the relevance of the organizational planning process method. The objective of the study was to develop and implement a comprehensive strategic planning process within a pharmaceutical company, outlining the organization's strategic objectives and operational goals.
Method: The action research methodology was adopted in this study. Two researchers were deeply involved in all phases of the planning process following the six steps of the research protocol. The process started with the formulation of the row of activities for the planning process and was finished with discussion with the board on the planning experience and results obtained.Results: Understanding and learning were gained about the practical consequences of implementing specific steps of a comprehensive conceptual method of strategic planning in a pharmaceutical business context. The intervention led to several key findings, including: (i) the effectiveness of using a structured questionnaire to identify internal and external variables through SWOT analysis; (ii) the difficulty managers faced in reaching consensus on strategic priorities; (iii) the importance of senior leadership in articulating strategic themes; and (iv) the successful co-creation of strategic objectives and operational goals using the Balanced Scorecard framework.
Contributions: The academic literature presents a research–practice gap with a lack of studies on the application of action-research method on strategic planning in pharmaceutical industry. At a conceptual level, the study designs a method to identify strategic objectives and operational goals. At a practical level, it reports and discusses the results of applying the method in a real pharmaceutical company, providing insights, lessons, and recommendations that can be useful when adopting the method in other business contexts.
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