What are the advantages and disadvantages of keeping the strategic-planning process secret vs. placing the firm’s strategic plan on the corporate website and discussing strategies and planning publically? (2 main advantages and 2 main disadvantages)

Answers are given below.

Explanation:

Advantages of keeping the strategic-planning process of a firm secret

1. The flaws or challenges of the firm will not be known to the general public or the firm's competitors.

2. The great ideas in the strategic plan will be known only to members of this firm. No other firm will be able to 'steal and quickly implement' these great ideas.

NOTE: The opposites of these statements are same as the disadvantages of making the strategic-planning process public.

Disadvantages of keeping the strategic-planning process of a firm secret

1. Placing the firm's strategic plan on the corporate website will improve the confidence of clients or customers in them. Clients and customers will view the firm as transparent and will also feel informed about the firm's activities.

2. Discussing strategies and planning publically will fetch the firm some good ideas from the public, and also some new customers or clients.

NOTE: These statements are same as the advantages of making the strategic-planning process public.

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