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The Purpose of Strategic Planning

 

 

 

Strategic planning is focused on answering three key questions for a business:

  •  Where are we now?

  •   Where do we want to be three to five years from now - what do we want to achieve?

  •   What is the best way for us to get there?

 

A business must continuously assess itself, its competitors, its customers, and the industry in which it operates.  It must improve its performance in the midst of an accelerating pace of change and the growing complexity of the marketplace.

 

A strategic plan should, therefore, help the firm to:

  •  prepare and respond to anticipated change;

  •  develop the capacity to cope with unexpected/chaotic change; and

  •  create and implement proactive change, in order to better serve customers and to force competitors into a reactive mode.


 

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