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Is Strategic Planning Necessary?

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Various authors and professionals suggest that an organization must plan or have a strategy to be successful. Do you feel that planning and strategic management is necessary to be successful? Why or why not? Consider this question from the perspective of an organization and as an individual.

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An organization must definitely have a solid, well-crafted strategy in order to be successful. Planning and strategic management is an essential element for business success. This holds true from a domestic and an international standpoint. The most successful businesses are the businesses that invest ample ...

Solution Summary

This solution explains if and why strategic planning is necessary. The concept of strategy is discussed from the viewpoint of management and also from the viewpoint of an individual.

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