The definition of the strategy must be an integral effort where all relevant factors for the company are taken into account.
A successful strategy is able to take the mission of the company and translate it into the clear efforts that impact the business model
Some of the benefits of a strategic planning effort include:
- Efficient assignment of resources
- Identification of relevant and growing market niches
- Determine the attractiveness of evaluated markets
- Clarify the role of the product and brand portfolio