In: Economics
Strategic development is also known as strategic planning to run a business..The business sets its aims and objectives which can also be changed according to the changing market conditions. Strategic development involves setting long term goals and sharing with everyone who are involved ,so that everyone works towards that path. Secondly it is necessary to carry out a market and competitive survey to know the target audience and the competitors.Thirdly it is necessary to assess the company's profits and revenues and do a SWOT analysis in order to understand the strength, weaknesses,opportunities and threats. Fourthly is is necessary to map out where the company should be in the next five years .Since the market changes continuously it is necessary to change according to the market..
Some of the challenges to development are poverty reduction , environmental protection,improvement in standard of living, income and wealth distribution,income, consumption , employment,savings and investment, food security ,change in rights which are formal and informal and change in relations such as economic and social,economic growth which is equitable,proper governance etc
South Sudan is the world's most development challenge..The daunting task is to build the nation from scratch.The education ministry does not have a computer, few in the civil service are literate beyond primary school level, a new currency is used but it is doubtful whether there are reserves of the new currency.South Sudan has high maternal mortality rate, there is poverty and children are malnourished ,education is upto primary level.There is no peace in the country and there is conflict in the borders.Other important issues are that the country depends on oil for its revenue and how long this oil will last is between eight to twenty two years which is very short period .The government has signed a new oil deal but with whom is not known.Thus lack of transparency is a great problem.Again the donors of funds have not made any commitment and as a result strategic planning is difficult.