Strategic planning is the planning by an organization in order to meet its goals. Thought the allocation of plans and resources, and proper execution of the inputs, outputs, and activities.
Through the comparison of the strengths and weaknesses and industrial opportunities and strengths. The outputs include the documentation etc.
The strategy might fail if it's taken lightly and not handled properly. Unwillingness and lack of support from the teammates.
People have limited resources, so each purchase decision has to be based on weighing the pros and cons. If the expected benefits of something are higher than the expected costs, they will make the decision but if the costs are higher than the benefits they will avoid making it.
The term that fills the blank above is GOVERNMENT. When we say command economy, this is the type of economy wherein its economic activities are being centrally controlled by the government such as the production, prices, investments, and incomes. It is the government that makes the final decision which would greatly influence the flow of the economy.