They believe Strategic plans are needed to revamp the magazine's content, editorial staff, and readership.
Explanation:
Strategic preparation is the practice of recording and leading the small organisation— deciding where you are and when you go. The strategic plan offers you with a location to document your purpose, vision, and principles, your long-term priorities and action plans.
Vision planning, scenario preparation and dilemma solving are three growing priority areas of the strategic planning.
Examples of a Business Strategy Includes: assessment of corporate assets and deficiencies. Design of a framework for business strategy.
Reader's Digest Association, Incorporation believes that strategic plans are needed to revamp the magazine's content, editorial staff, and readership.
From the information given, the company has published Reader's Digest magazine for over 80 years, and many believe the publication is dated and can no longer attract many readers.
Therefore, it's important that they utilize strategic plans to revamp the magazine's content, editorial staff, and readership. This is vital as it'll help in increasing sales and thereby improve the revenue as well.
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