When should an organization revise or update its strategic growth plan?
Strategic plans are living documents and must evolve with internal and external changes.
Ideal times to revise a plan:
Annually during strategic planning sessions
After major internal changes (mergers, leadership changes)
When entering new markets or launching new products
During economic, political, or technological disruptions
If current strategy underperforms or fails to meet objectives
Benefits of timely revisions:
Keeps the company responsive and relevant
Ensures alignment with real-time market dynamics
Supports better risk management
Promotes continued innovation and improvement
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