a) Reasons for continuing to invest in the strategic planning process:

• Risk reduction: Strategic planning helps the company reduce the risks associated with its operations by considering various factors.
• Reduction of uncertainty: It reduces uncertainty as personnel will know the results expected of them.
• Realistic targets: The company can set achievable targets by considering its strengths and weaknesses before setting such targets.
• Guidance: Strategic planning serves as a guide in the operations of the company.
• Commitment: It helps gain loyalty and commitment from employees as they will be involved in the planning process.
  (Any 5 x 2 marks = 10 marks)

b) Reasons against investing in the strategic planning process:

• Waste of time: The company may consider it a waste of time due to the extensive time involved in the planning process.
• Fear of failure: There may be a fear that the strategic planning process will fail.
• Lack of expertise: The company might not have the personnel with the expertise to undertake strategic planning.
• Complacency: The company may be satisfied with its current performance and see no need to plan.
• Uncertainty: The fast-changing future might render the planning process unnecessary.
  (Any 5 x 2 marks = 10 marks)

Grand total: 20 marks