in her article Karin Bellantoni talks about why a company needs a strategic plan. Yet, I know many small companies that don't have a strategic plan, and they are highly successful. Why should these companies invest the time into creating a strategic plan?
Thank you for the opportunity to help you with your question!
from all over the world have one thing in common: competition. In order for
organizations to compete in today’s marketplace they have to have a plan of
action or strategy. Strategic planning refers to a process which defines an
organization’s plan to effectively allocate its available resources. A
strategic plan is not the same as a business plan. A business plan tells how
and why the company’s products or services will garner revenues. A strategic
plan identifies the objectives, goals, direction, and opportunities within an
organization and how to go about executing them.
strategic business plan helps the company to define its mission and vision,
giving the company a sense of purpose and direction that sets them apart from
competitors. A mission statement also discusses the product or services
conducted by the company. Developing a strong mission and vision statement
clearly presents to potential and existing clientele what the company is about and
what the plan is for the future.
Please let me know if you need any clarification. I'm always happy to answer your questions.
Jul 14th, 2015
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