MKTG (with MindTap Marketing, 1 term (6 months) Printed Access Card) (MindTap Course List)
12th Edition
ISBN: 9781337407588
Author: Charles W. Lamb, Joe F. Hair, Carl McDaniel
Publisher: Cengage Learning
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Chapter 2, Problem 1LO
Summary Introduction
To discuss: The importance of strategic planning
Strategic planning refers to the process of maintaining and creating a fit among the objectives of the organization, resources, and the opportunities in the market.
Expert Solution & Answer
Explanation of Solution
The significance of strategic planning:
The aim of strategic planning is growth and long run planning. Therefore the decision requires commitments on long run of the resources. On the same hand these decisions will affect the financial growth and the allocation of resources and success of the organization.
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