Taking the time to craft a vision and mission, and to formulate, revise, and properly implement strategy are reasons for the high failure rate of new businesses.

Question

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The high failure rate of new businesses is often attributed to factors such as lack of market demand, insufficient capital, poor management, and inadequate planning, rather than the thorough preparation and strategic planning implied by crafting a vision and mission, and formulating and implementing strategy.

Taking the Time to Craft a Vision and Mission, and to Formulate