Developing Strategic Planning Tools to Support Forest Industry Transformation
Much of the management theory taught in today’s classrooms is focused on consumer-based, growth businesses rather than natural resource-based, cyclical industries. This study will examine how natural resource industries, such as forestry, recognize and adapt to structural (permanent) challenges in their market environment. The research will have three main components: first, using publically available information sources, it will inventory which strategic actions North American and European forestry companies have taken over the past decade to acclimate to their changing business environment. Second, it will identify the most relevant streams of management and strategy literature, suggesting modifications to incorporate the needs of natural resource firms. Third, it will survey industry decision-makers to test the newly-updated theories, and develop comprehensive yet straightforward tools to aid industry in recognizing and interpreting market signals. The resource-based partner company has expressed an interest in using the strategic planning tools developed by this project to evaluate and validate its evolving corporate strategy.