Strategic Plan Development for International Business

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Strategic Planning consists of a set of tools used by business organizations for knowing about the opportunities and threats which can affect the goals of an organization. Based on the data obtained from strategic planning organizations plan long term and short term goals for the company.

The first step in the process of a strategic plan is to have a vision and mission about how the company wants to be seen by the customers and competitors.

Next comes defining the environment in which the company is working which gives an idea of the opportunities and challenges. A new finding about how the economy is growing comes as an opportunity while a news about the possibility of raw materials that may occur is to be treated as a threat.

At what position the company has among the competitors is an important factor that needs to be found out using strategic plan. The factors that the company is good at and performing well than competitors is critical for expansion purposes. It is also essential to recognize the weak points that make the company perform lower than competitors.

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