JMGT_V1_N3_A2 Christian N. Madu Journal on Management 2230 – 715X 1 3 14 19 Complex Environment, Dynamic Environment, leadership, effective planning, implementation, survivability of firms Today’s business environment is very complex and dynamic. Businesses are increasingly affected by technological changes, evolution of management practices, societal changes, demands on the natural environment, and increasing competition. Dynamic leaders are needed to guide their corporations to respond proactively and effectively to manage change and business growth. Business leaders need to be innovators and strategic thinkers who are able to adapt and exploit opportunities in their changing environment. In this paper, we review the challenges that businesses are faced with and discuss how top management can respond to these challenges by planning and managing change. This article discusses the importance of leadership and strategy in planning for the future. Planning for the future is not an easy task and requires visionary leadership to develop futuristic views. Leadership is essential to providing enabling conditions and appropriately allocating resources to anticipate and plan for the future. Corporations that understand their environment and react proactively have proven to be successful and continue to reap the benefits of better planning. Those that have failed to plan effectively have lost market share and competitive advantage and are either out of business or struggling to catch up with their competitors. This paper therefore discusses the importance of strategic planning and the role of top management to ensure effective planning and implementation. Planning for the future is the goal of any strategic plan and it is the key to the long-term survivability of firms. December 2006 - February 2007 Copyright © 2007 i-manager publications. All rights reserved. i-manager Publications http://www.imanagerpublications.com/Article.aspx?ArticleId=384