What are some of the key reasons that strategy development is important in business?

Keeps the organization$/$employees focused on priorities, leads to better supply chain management, and forces businesses to constantly examine their environment.

Long$-$term survival of the business, assists in the proper allocation of resources, and forces businesses to constantly examine their environment.

Leads to higher profits, assists in the proper allocation of resources, and leads to better customer satisfaction.

Assists in the proper allocation of resources, leads to better customer satisfaction, and it required by the shareholders.

Long$-$term survival of the business, leads to better customer satisfaction, and leads to higher profits.