Answer:
provide direction and momentum, encourage new ideas, and develop a sustainable competitive advantage.
Explanation:
Planning and strategic management is of utmost importance in terms of providing direction and momentum, encouraging new ideas, and developing a sustainable competitive advantage.
Without direction, a company is bound to go hay wire and lose focus from the end goal. New ideas are fuel to the engine of a company. Continuous innovation keeps it running. It needs to develop a competitive advantage from the competitors to survive in the brutal market.
