What Is A Strategic Business Plan

What Is A Strategic Business Plan-61
In general, a strategic plan is a broadly defined plan aimed at creating a desired future.

In general, a strategic plan is a broadly defined plan aimed at creating a desired future.

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This shows how the funds requested will affect the organization’s financial position.

To convince the prospective finance providers that the seekers know what they are doing, they go into a lot of detail.

However, sometimes it is just a matter of trying to make the ordinary business planning sound a bit more important than just a budget!

I think it is helpful to separate the term ‘strategic’ from the term ‘business’.

However, as the details become finer grained, the confidence we can put in the figures starts to fall.

Very detailed financial projections, which might extend much beyond one or at most two years, cannot be believed.

Understand that a strategic plan differs from a business plan in three ways -I define strategic planning differently to some others. Begin with a clear understanding of and commitment to the enduring purpose of the organization.

Strategic planning is a systematic, formally documented process for deciding the handful of major decisions that an organisation, as a corporate whole, must get right in order to thrive over the next few years.

The description 'strategic business planning' may be confusing.

If such business planning is business planning aligned with, and designed to implement corporate strategy there would not be much of a problem.


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