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As a consultant, I am working on a project for a client in the Industry industry. Their main goal is to improve their Business Objective . They've tried a few approaches but have not seen the progress they desire. Based on their industry and business objective, provide an analysis of potential challenges they might be facing and suggest a detailed strategic plan with a 5-step process to help them reach their objective. Also, include any potential risks or obstacles they may encounter along the way and how to mitigate them.