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Case Scenario: You have just taken on the role, and you need to lead the planning process for the development of the new smartphone. You have a cross-functional team with experts in design, engineering, marketing, and production. The project's goal is to launch the smartphone within 18 months. You have a budget and a set of specifications to meet. The market is highly competitive, and customer expectations are constantly evolving.
Questions:
1. Identify and explain the steps involved in the planning process for the development of the new smartphone at XYZ Electronics.
2. Explain the importance of setting SMART (Specific, Measurable, Achievable, Relevant, Time-Bound) goals in the planning process for the smartphone project. Provide examples of SMART goals for this project.
3. Discuss the potential challenges and risks that XYZ Electronics may encounter during the planning and execution of the smartphone project. Provide strategies to mitigate these challenges and risks.
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