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Pages 5 (1255 words)
Cango Analysis Report Table of Contents Table of Contents 2 1. 3 2. 4 3. 6 References 8 1. Strategic planning is an essential part of the planning process and developing a well designed action plan. It comprises of developing well documented and step by step approach towards the fulfillment of the goals and objectives that have been outlined by a person, individual or agency in an attempt to accomplish the short as well as long term objectives that has been designed as an outcome of a group or an individual effort (Mintzberg, 1994, pp.
The next step comprises of designing a strategic plan which will enable the company to achieve its objectives. The final step comprises of implementing the strategic plan and taking up various steps to analyze the effectiveness of the applied plan (May, 2010, p.2). Talking in terms of the strategic planning approach, the company took towards the online gaming market, it can be said that the approach was quite haphazard in nature while ignoring three very critical aspects. 1. The first one is the absence of a long term vision for the company. 2. The second one is the ignorance of an evaluation of the external market conditions. 3. The third one is the designing of the short term goals in a well planned manner while taking into account the effect of the macro and micro level variables capable of affecting the business environment. 4. ...
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