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For an organization to be successful it is necessary to consider the internal and external factors affecting the organization and strategize a plan accordingly. This strategic planning will help the organization to face the challenges and opportunities. Strategic planning enhances the growth of an organization irrespective to the size of the organization, the culture of the organization, the leadership style or the objective of the organization.
Several key strategic development tools are available that can be used. However, selecting the best tool according to suitability is a challenge.
In order to be profitable and sustainable in the industry, an organization should carefully perform an environmental scan as the first step. Hence, accordingly, plan and develop strategies to make the most. However, these strategies should be measured and adjusted as per the need of the fast-moving markets. Well-Planned strategy execution and proper evaluation of these strategies can enable the organization to reach great heights as we have seen in the case of McDonald's.
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