An automobile company is facing the problem of declining market share due to excessive competition, as a result of liberalisation and globalisation. To overcome this crisis, the company has decided to launch new models/products with attractive features at competitive prices. For this purpose, the top management frameda strategy. In your opinion, will it guarantee success?

Explanation

No, in my opinion, framing a strategy does not guarantee success because planning may fail under different circumstances as:
Sometimes, a manager may not be in a position to change the plans, with a change in business environment, leading to its failure.
(ii) The best plan, in absence of proper implementation, may fail.
(iii)Sometimes, the huge expenditure on planning may not be justified by its benefits.