Strategic planning has taken on new importance in today's world of globalization, deregulation, advancing technology, and changing demographics and lifestyles.

Question

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Strategic planning helps organizations navigate through the complex and ever-changing business landscape and adapt to the changing trends and challenges. The factors mentioned in the statement, such as globalization, deregulation, advancing technology, and changing demographics and lifestyles, have a significant impact on business operations and require a proactive approach in developing and executing strategies. Therefore, strategic planning has become even more critical in today's world.

Strategic Planning Has Taken on New Importance in Today's World