Strategic Planning
The concept of strategic planning can be as complex as we want to make it, but it is better to keep it simple, which is not so easy to do. Moving away from single business strategy into the world of multi-business strategy, you will need to consider many factors at the corporate level of strategy. In preparation for developing a strategic framework to increase competitive advantage for a multi-business company in the international marketplace.
Conduct research using your textbook and Library resources (Internet resources are unacceptable) as necessary to develop an understanding for strategic planning. Based on all of the strategy concepts you have learned in Chapters 1–8 in your textbook, share your understanding of developing a strategic framework for a business by meeting the following criteria:
- Explain what strategic planning is, and why it is important to a company by giving practical examples and using research.
- List the components of a strategic plan and explain the importance of each component in a strategic plan by giving practical examples and using research.
- Explain the differences in strategic planning for a single-business and a multi-business company.
- Explain the intricacies of strategic planning for businesses in the international marketplace by providing examples and using research.
- Explain why developing a strategic plan is easier than executing it.
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