Strategic planning for Canon; The crisis and the new vision

Canon Corporation has been using corporate planning for 30 years, and one of the reasons for the excellent performance of the company is the quality of the strategies which were formulated through the corporate planning process. Most of the new products were developed inside the company and, in many cases, a strengthening of the resource structure was carried out before these new products were introduced. The corporate plan has two parts: the long-range strategy and the medium-range plan. The management uses a computer simulation to model future results, and to integrate many sub-systems of the plan.