Module 2 Journal 1.docx - Regardless of whether your...

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Regardless of whether your business is a small start-up or one of the biggest players in the market, you will likely have heard stories of how other organizations have achieved success through well thought-out strategic planning. Is strategic planning still relevant for businesses today, however, or is it just an outdated management fad? How exactly does it help an organization? Effective strategic management can bring many benefits to any business – here are just four examples. It outlines a clear path for your company. No business can hope to succeed by not having a plan and simply hoping to stumble across success. A strategic plan works like a roadmap, clearly defining the best route for your organization to take in the years ahead. Whether it covers one, three or five years into the future, a strategic plan can help guide your organization to meet the challenges that lie in wait. It brings a sense of focus. Because a strategic plan establishes a direction for your business to take, it will help it sharpen its focus to get there.
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  • Summer '17

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Christopher Reinemann
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