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5. Strategic Plans <br />Once the key issues have been identified sound, ..ction-oriented <br />strategic plans must be developed which will resolve 'the issue; <br />and help the company fulfill its mission and accomplish its <br />objecti—s. Individual strategies may take a'variety of forms <br />reflecting the unique capabilities and resourcea- of individual <br />companies. In any case, however, the strategies must be a response <br />to the key st,rategiL issues facing the company. These strategies <br />may involve an aggressive expansion program, they may indicate <br />reintensifiEc; merchandising progr tms tr, regain a dominant but <br />threztened competitive position, hey may suggest a program <br />of short term retrench.iient and internal rebui ,dinq in anticipation <br />of <br />future growth anc' <br />ro <br />:)fitability. The critical <br />point <br />i5 <br />that the strategic: <br />pl�ivs <br />must ue consistent with and be <br />based <br />on the company mission, its external threats and opportunities, <br />its internal strengths and weaknesses, and be addressed to the key <br />strategic issues de'ermining the company's future vitality. <br />6. Time and Action S,_' Aule and _Strat eoic Abject fives <br />Even the most, r _arous and well -considered strategic plan will be <br />to no avail unless it is implemented with commitment acid preci!-.'on. <br />Corr�.nc;uently the next step in Vie ,Manning process is to de �Iop <br />a realistic but challengir ',e and Action Schedule tur the <br />execution of th^ plans schedule would also include a statcfn--nt <br />of specific objecti-v:. or nilestones for the ccm. ii.g year - control <br />