Strategic Planning For Business

Tags: About My Vacation EssayHow To Solve Acne Problems NaturallyArdeur 14 Essays Anita BlakeEdgar Allan Poe Raven EssayDecision Making Tools Techniques EssaysClinical Research Associate Cover Letter

It includes your company’s organizational structure, marketing plan and financial projections.

A strategic plan, on the other hand, answers "how will I do it? It includes a detailed action plan for the next few years to achieve your company’s goals.

Whereas a business plan could be for new businesses and entrepreneurs who are startups.

A strategic plan is used to provide focus, direction and action in order to move the organization from where they are now to where they want to go.

Whereas a business plan is critical if the business is seeking funding.

A strategic plan focuses on building a sustainable competitive advantage and is futuristic in nature.

Smaller companies and startup companies typically use only a business plan to develop all aspects of the business on paper, obtain funding and then start the business.

Many smaller companies – including startups never develop a Strategic Plan.

Both should include a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) and be reviewed regularly so that they’re up to date.

The business plan is a broader, more preliminary document that sets your course when your company may still be nothing more than a twinkle in your eye.


Comments Strategic Planning For Business

The Latest from ©