Strategic Planning in the Czech Republic
In developed market economics, well-managed businesses are expected to all have a strategic plan; whereas, in the Czech Republic (country in the middle of Europe with exciting history as well called as ‘heart of Europe’; capital Prague; population 10.5 million; area 78,864 sq km) and the rest of the post-communist countries, having such management tools in place is all too frequently overlooked and missing. Unfortunately, the above statement about management practices in the Czech Republic is an objective description of the current state of affairs. Times are changing however and the days when running a profitable business was a relatively simple task are long gone. This change had to come some day; but, with the arrival of the current economic crisis, this change has come about more quickly than many could have expected. Thus, the existing management and business planning practices of most Czech businesses are facing a major test. For those businesses that have entered this...