Unformatted text preview: Strategic planning within a firm helps the firm to increase their efficiency in operation. Good strategy helps in providing the firm with a good roadmap on how to conduct different events with the firm to help in achieving the maximum potential. On the other hand, competitive strategies aim at improving the ability of an organization to compete against rivals. Businesses create a strategy with the aim of improving their competitiveness to effectively compete in the external environment. Consequently, strategic planning is directly connected to the business’s competitive advantage. Through competitive strategies, an organization can create plans to deal with rivals and improve its competitive advantage. STRATEGY 3 References Thompson, A. A. (2014–2015). Strategy: Core concepts and analytical approaches (3rd ed.) [BSG electronic edition]. Burr Ridge, IL: McGraw-Hill Education....
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- Spring '18