What is the purpose of strategic planning in Business?

[Kvngsammy]

Strategic planning as the name sounds is the panning of a business with specificities that include but isn't limited to set time frame for intended goals and objectives.
That includes setting time bound targets.

 

[tyrim88]

Just as we know that whenever a goal or goals are set, they don't just happen or get accomplished. There should be and there are always plans in place which leads to the accomplishment of such goals. Thus in the name STRATEGIC PLANNING, I will say it is a plan to accomplish specific goals but not just with any other plans but involving strategies. You and a competitor might have the same or similar goals but when you a strategic plan, you're not only planning towards accomplishing those goals, but at the same time you counter and block off potential threats from competitiors.

In business one thing the business owner should always do is to delibratelly positioning himself through constant learning,involving technology and other market dynamic,these are part of what strategic planning is.

 

[Ononivami1]

Planning is a very important aspect of the business and it is always good to have better plans inorder to ensure the smooth running of the business. The plans will guide you on how to run the business.

 

[Shigobad20201]

One of the purpose of strategic planning in business is to strategize and comes up with various new plan you can use in business and also to find solutions to problems arising in the business .

 

[Syldan]

Strategic plans are those plans which forecast into the future for realisations which can comes in different perspectives either financial strategy, personal management strategy, and also production strategies etc.

 

[Shigobad20201]

Planning is a very important aspect of the business and it is always good to have better plans inorder to ensure the smooth running of the business. The plans will guide you on how to run the business.

In order to maintain the smooth running of business and to have a succesful business , a business plan helps you to plan for the business and knows the future circumstances.

 

[Syldan]

The essence of strategic planning in business, they are done in other to maintain financial stability within an organisation and also have the ability to cope up with challenges that may occur in the future.

 

[Achawaskey]

Strategic planning is a way of arranging your business from starting stage to the stabilising stage, it will help you to know if you are making any progress in your business or not, with strategic planning you will know when executed and when not to.

 

[Setho]

It is sometimes not just enough for you to plan on a business because you are going to be having a lot of competition with you hand in hand. What is going to set you aside is the strategy that you have put in place to ensure that you are going to actualize it.

 

[Ononivami1]

In order to maintain the smooth running of business and to have a succesful business , a business plan helps you to plan for the business and knows the future circumstances.

The business plan form the basis of all businesses and it is very important to have one at your disposal before you would think of starting any business. It is a very important aspect.

 

[Shigobad20201]

The main purpose of planning in business is to for see and secure the future of the business, for example planning on the amount needed to start a business and how the business will be .

 

[Sotherefore]

Strategic planning will help you plan ahead to determine any possible causes of business failure and how to arrest them. With strategic planning so many things are to be put into consideration like the location of the building and other environmental and economic factors.

 

[Shigobad20201]

Strategic planning will help you plan ahead to determine any possible causes of business failure and how to arrest them. With strategic planning so many things are to be put into consideration like the location of the building and other environmental and economic factors.

In order to prepare ahead for the future occurrences in business , we need strategic planning , and in the strategic planning , we also need a plan B which we can use incase the initial business flop.

 

[Sotherefore]

In order to prepare ahead for the future occurrences in business , we need strategic planning , and in the strategic planning , we also need a plan B which we can use incase the initial business flop.

Then another thing is that , who are the people that are to carry out the strategic planning , are there any expert or the business owner at the one to carry it out by themself ? .

 

[tyrim88]

The essence of strategic planning in business, they are done in other to maintain financial stability within an organisation and also have the ability to cope up with challenges that may occur in the future.

Strategics planning is a process whereby a business will properlly analyse his business strength and the potentials in the market and come up with an implimentable program that will be the best fit to the reality on ground that wil in the long run benefit the business.

 

[Shigobad20201]

One of the main purpose of having a strategic planning in business is to make sure the business is put into proper consideration concerning the spending and the future of the business.

 

[Syldan]

Strategic plans are those kind of plans that an organisation make and implement not for the sake of the present but to solve future uncertainties.
Actually there are so many reasons as to strategic planning. because all situations needed a different way of tackling it. it's purposely made to tackle emergency situations.