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The strategic planning consulting industry has grown very rapidly during the 1970s and is expected to continue to grow in the coming years. In order to determine the nature and growth rate of the strategic planning consulting industry and the variety of services, approaches, and impacts of such consulting firms, I recently conducted a field study.

All knowledge claims are also to some extent legitimacy claims. No theory can receive serious attention, let alone gain credence, unless it is also seen as legitimate. Philosophers of science have spent decades trying to frame criteria that determine the legitimacy of theories, only to agree to disagree on the matter. Sociologists of science, on the other hand, take a broader view, arguing that rather than seeking ex ante criteria of knowledge it is best to examine how researchers legitimate knowledge in practice.

No matter what the state of the economy, no company is immune from internal hard times—stagnation or declining performance. How can management pinpoint the right turnaround strategy when it is needed—and make it work?

How do you balance the rewards against the risks when you're thinking of new international operations? Here's a technique that works for domestic businesses looking to put a toe in the water overseas as well as for established multinationals.

Last year, American Telephone and Telegraph (AT&T) decided to accept the Justice Department's proposal to break up the Bell System—a 100‐year‐old institution, the largest business in the world, with one million employees and 3 million share owners.

Barrett, Charles H., Budgets work best if management takes part in making them, Newspaper Controller, Vol. 27, No. 10 (July 1976), pp. 2–3, 10. The most significant characteristic of the profit planning procedure at the Chicago Tribune is management involvement. From the time when an original game plan is established until actual performance occurs, management participates and follows through. Without its support, even the most sophisticated planning systems would undoubtedly fail. Both long‐range‐planning and short‐term budget preparation are byproducts of management's basic strategy. The major goals include: (1) improved return‐on‐investment and revenue, and (2) an improved competitive position. The annual budget is the first step in reaching the long‐term objective. Budget preparation is delayed as long as is practicable, to give the most current results and provide a strong basis for forecasting. An initial estimate of total revenues is requested before the actual forecast is completed.