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Importance of Having a Strategic Business Plan to Success

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1. What is a strategic business plan? Why is this plan important to an organization's long-term success? What role does innovation play in developing a strategic business plan?

2. What are the components that comprise a sustainable competitive advantage for a firm? How might these components vary for different industries?

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A strategic business plan is a plan that describes the action plan or business plan of the organization to achieve desired goals and objectives via strategic steps or actions formulated by the company. In other words, a strategic business plan outlines the strategic steps that an organization would take to outshine competitors and achieve desired goals via set of actions.

For a longer term success of the company, this plan is extremely important because it identifies those key strategic actions or steps that a company must take in order to ...

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What is a strategic business plan? Why is this plan important to an organization's long-term success? What role does innovation play in developing a strategic business plan?

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Strategic plan for Precision Castparts Corp.

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Create a strategic plan, including the items below no more than 1800 words, not counting the words in citations and references. I already have the company overview, please do not include it.
1. Objectives
2. Functional tactics
3. Action items
4. Milestones and a deadline
5. Tasks and task ownership
6. Resource allocation
7. Any required organizational change management strategies that would enhance successful implementation
8. Key success factors, budget, and forecasted financials, including a break-even chart
9. Risk management plan, including contingency plans for identified risks

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