Final answer:
Strategies should address external issues and leverage competitive advantages, focusing on aligning with the company's goals and reinforcing its strengths to maximize potential.
Step-by-step explanation:
Strategies selected by an organization should address external issues, draw on competitive advantages, and ensure that they align with the company's overall vision and goals. A key component of strategic planning is conducting a thorough environmental analysis, which includes assessing both the external and internal factors that can affect the organization's performance. By understanding the external environment, including the market, competition, regulatory landscape, and economic conditions, companies can identify opportunities and threats.Moreover, leveraging competitive advantages allows a company to focus on areas where it can outperform its rivals. These advantages could be in the form of advanced technologies, skilled workforce, patent ownership, strong brand recognition, or superior customer service. Strategies should reinforce these strengths to maximize the company's potential.In conclusion, a holistic approach to strategy development that addresses external challenges and amplifies competitive strengths will contribute significantly to an organization's success.