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MARKETING

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Strategic planning tools help businesses define their vision, set clear objectives, and plan an approach to effectively achieving them. In other words, strategic planning tools provide guidance to lay the foundations of the what, the why and the how of an organization. Strategic planning is an organizational management activity that helps align priorities, focus on resources, and route all stakeholders towards achieving the desired business goals. During a strategic planning process, business and operational strategies are developed. These strategies serve as a road-map to achieving the organizational vision and its goals. The key elements of the strategic planning process established through a few steps that are: Developing the vision and mission statements, and business valuesThe assessment of internal and external factors that affect the organization S Effective mission and vision statements which are an essential part of strategic planning process, enables an organization to set priorities, reduce ambiguity, and provide…