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Competitive Advantage is vital to Strategic planning.
Strategic planning identifies strengths and weaknesses and visions and missions for the future.
Competitive advantage relys on the benefits of the companies strengths and act upon them to turn them into competitive advantage. Other firms can't duplicate strategy or competivness that they don't have.
What else can I help you with?
Types of strategies used in strategic planning for achieving global competitive advantage?
refer to michale portes five forces model
What are the advantages to strategic planning?
Strategic planning is crucial to make blue print of profit generation, gaining competitive leverage , determining operational planning steps.
What are some of advantages and Disadvantages of strategic planning?
Some advantages of strategic planning are: it leads to sustainable competitive advantage, improves resource allocation, reduces resistance to change, identifies strategic goals and strategic intent and facilitates communication between managers. Disadvantages include: complex process, low rate of successful implementation and costly to perform for small and medium business.
Why do business use strategic planning?
Businesses use strategic planning to provide a system that could bring them to a better competitive level in the market than their competitors. This strategic planning includes several steps to outplay and outwit what their competitors might be missing or doing that they need to do as well.
What are the strategic management process?
The strategic management process is a method by which managers conceive of and implement a strategy that can lead to a sustainable competitive advantage. There are five parts to it.
What are the strategic business objectives that are impacted by information systems?
operational excellence, competitive advantage, survival, improved decision makinh
Is Strategic planning is the seed of money?
strategic planning is seed money. discuss
What Citigroup's strategic management plan?
Only employees of Citigroup know the strategic management plan of the organization. Managers don't publish this information because it would be detrimental to their competitive advantage.
What is strategic level of production?
The strategic level of production refers to long-term decisions that shape the overall direction and framework of a company's manufacturing processes. This includes planning for capacity, technology investments, supply chain management, and aligning production capabilities with business goals. At this level, organizations assess market trends, competitive positioning, and resource allocation to optimize efficiency and profitability. Ultimately, strategic production decisions aim to enhance the company's competitive advantage and ensure sustainable growth.
Explain the Importance of strategic planning in MIS?
what is the importance of strategic planning in mis?
What is the Nature and scope of management accounting?
It has to do with Strategic Management. That is: the way in which the managers plan, coordinate, and lead, etc.; in order to gain and maintain competitive advantage.
When did Wulf Bernotat work in strategic planning at Shell?
1986-1987, strategic planning
