The understanding of what key element is essential for successful strategic planning?

A. Understanding the needs and expectations of stakeholders

B. Understanding competencies

C. Understanding the processes of strategic change

D. Understanding how to plan

Answer: Option C

Solution(By Examveda Team)

Understanding the processes of strategic change is essential for successful strategic planning. Strategic planning is a process in which organizational leaders determine their vision for the future as well as identify their goals and objectives for the organization.