Which of the following is the best reason for why strategic planning is still important today?

A. Without a formal strategic plan a company cannot expect to compete effectively

B. Without a strategic plan an organization can drift without purpose or definition

C. Without it, companies would exist without cause or co-ordination

D. Because of slower economic growth, globalization and technological change

Answer: Option D

Solution(By Examveda Team)

Strategic planning is still important today because A critical success factor (often abbreviated “CSF”) may sound complicated, but it's actually a pretty simple concept. 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.