Business Finance Homework Help

Wright a 150 word answer for all of the questions. 

1) As we have been learning strategic planning is crucial for a company. It’s not enough to develop and implement a strategic, but a company has to also update a strategic plan. My question is: – is there a point of diminishing returns in updating a strategic plan? Can a strategic plan be updated too often?

2) Why is it important to continuously update the implementation and communication of a strategic plan? Who should be responsible for updating and communicating a strategic plan? Why?

3) Our textbook makes a great case for implementing and updating a strategic plan. But how important really is a strategic plan. Do you think it’s possible for a business to be successful without a strategic plan? Why or why not?