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2.2.4 Strategic Planning
Strategic
planning
is
a
process
of
identifying
long-term organizational
goals, strategies,
and resources. Strategy planning will focus on the long term rather than day-to-day
activities.
Questions that might be ask by the top manager during strategic planning makes up the
SWOT analysis. SWOT analysis assesses the company’s strengths (S), weaknesses (W),
opportunities (O), and threats (T). A SWOT analysis contributes to the strategic
planning by identifying technical, human, and financial resources [15].
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