Effective strategic planning requires:

Question

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Effective strategic planning requires the planner to challenge existing company assumptions. It is necessary to examine current business practices and identify areas for improvement or opportunities for growth. This may require questioning previously held beliefs or assumptions within the company. The involvement of management, a designated time frame, and tools such as the BCG portfolio matrix may also be helpful, but challenging assumptions is a crucial aspect of effective strategic planning. A stringent and narrow mission statement may limit the company's ability to adapt to changing market conditions and should be avoided.

Effective Strategic Planning Requires