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    Key Planning factors for Competitive Success

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    What are the key planning factors for competitive success? Provide an example of an organization that has achieved competitive success through planning. Provide an example of an organization that has failed to achieve competitive success as the result of failed planning.

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    https://brainmass.com/business/e-commerce/key-planning-factors-for-competitive-success-191617

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    The response addresses the queries posted in 686 words with references.

    // Before understanding the concept of competitive success, it is necessary to know about the factors responsible for competitive success. The most important among them are planning factors. So firstly, I will write about the key planning factors for competitive success://

    Key Planning factors for Competitive Success

    Key Planning factors for Competitive Success

    Key planning factors for competitive success are resources, competencies, product attributes, strategy elements, competitive capabilities (Thompson, Gamble & Strickland, 2004). The key planning factors are highly important for the firm's future competitive success. These factors are crucial for organization success. Factors acts as a basic business strategy for competing wisely in any industry (Wheelen & Hunger, 2004). The planning factors approach is highly useful and the best method, as it stresses on the current information requirement of each executive. Every business should identify the success factors to make it profitable and successful. The approach is a significant element in the success of a firm, focusing on the key areas and neglecting the inadequate areas.

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