what is trategic planning?

Business & Finance
Tutor: None Selected Time limit: 1 Day

Please wright a 175 word answer or more. 

What is the purpose of strategic planning? Why is it necessary? What are the components of a strategic plan? Which component is the most important? Why?

Jul 14th, 2015

Thank you for the opportunity to help you with your question! Hi, He observes that work expands so as to fill the time available for its completion.

strategic planning the organizational process of defining its activities as well as an organizational management activity used to set priorities,emphasize  energy and resources, strengthen operations, ensure that employees and other stakeholders are working towards common goals, establish agreement around intended outcomes and results, as well as assess and adjust the organization's direction in response to a changing environment.

strategic planning is very important as it states vision, mission and outside-of-the-box thinking by the companies and organizations. it describes where the company wants to go and how the company will get there. Strategic planning provides means of survival by the organizations. Good strategic planning will balance the revenue and productivity initiatives, companies without a well stipulated business plan will always fail.


kindly i am sending the components in a short while


Please let me know if you need any clarification. I'm always happy to answer your questions.
Jul 14th, 2015

components of strategic plan

they include mission statement

vision statement 

value principles

swot analysis 

competitive advantage 

long term strategic objectives

strategies 

long term and short term goals

action plans

financial assessments

scorecards

the most important component is the mission statement because it is an overarching, timeless expression of the purpose and aspiration of the organization, addressing both what the organization seek to accomplish and the manner in which the organization seeks to accomplish it. It’s a declaration of why you exist as an organization.


Jul 14th, 2015

but please this was a question of more than a dollar

Jul 14th, 2015

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Jul 14th, 2015
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