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The planned and emergent strategic approaches can support or hinder the business and marketing planning process depending on the conditions and execution. In a fast paced world of today’s time, it is essential for any business to gain a competitive edge over others. Consequently, it is the need of the businesses to devise and apply novel business strategies to sustain in the competitive environment (Buono & Kerber, 2010). The business marketing planning plays a crucial role in attaining the competitive edge by an organization. The formulation of the strategies can be done in two ways – planned approach and emergent approach. Both of the strategies have their advantages and disadvantages and their performance purely dependent on the strategy formulation framework that is used in organizational operations (Liu, 2009).
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