to be successful, strategic planning requires a company to have a ______ orientation.
Strategic orientation.
In order to be successful, strategic planning requires a company to have a strategic orientation. A strategic orientation refers to a mindset and approach that emphasizes long-term planning, proactive decision-making, and a focus on creating and executing strategies that align with the company’s mission, vision, and goals.
A strategic orientation involves considering external factors such as market trends, industry analysis, and competitive landscape while also taking into account internal capabilities, resources, and core competencies. It involves understanding the overall business environment and anticipating future challenges and opportunities.
Companies with a strategic orientation make strategic decisions based on a thorough analysis of the internal and external factors affecting their business. They strive for competitive advantage by developing unique value propositions, identifying target markets, and aligning their resources and activities to achieve their strategic objectives.
By having a strategic orientation, companies can better position themselves in the market, adapt to changing conditions, and make informed strategic choices that drive growth and success. It enables them to anticipate and respond to market shifts, identify new opportunities, and effectively allocate resources to achieve their long-term goals.