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Strategic planning vs. tactical/action planning

Discuss the most important insights you received from the readings, resources and your own research on strategic planning vs. tactical/action planning. How are they similar? How are they different? What are their purpose for the organization and for managers/leaders?
Read this article to understand how to effectively develop a company’s strategy. Most importantly identify the five critical steps of developing a company’s strategy as described by Bungay. Bungay

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