Question

Strategic planning is the company's plan for how it will match its internal strengths and weaknesses with external opportunities and threats in order to maintain a competitive advantage is ________.

Answer 1

The correct word for the blank space is: competitive advantage.

Step-by-step explanation:

An advantage a firm has over its competitors is a competitive advantage. Essentially, a competitive advantage is what allows a company to earn profits through higher sales or margins, thus creating strong stakeholder returns. Competitive advantage can be based on an intrinsic feature of the company or its ability to lower production costs and provide a good or service similar to or better than rivals.