What is the purpose of strategic planning in Business?

[Hdre3m3n]

Strategic planning can benefit your organizations, business or company's vision, execution and progress towards goals. If strategic planning is a skill, all business owners an entrepreneurs will like to improve.

 

[Ayokex]

Strategic planning is very essential in business in order to avoid failure. It is often said that failure to plan is planning to fail. Before someone will go into business at all there must proper planning of how to run the business successfully. During strategic planning, you consider your target market, some unavoidable happening that can make the business collapse. Having properly planned ahead will enable one to be prepared for the future.

 

[Robrown83]

When we talk of strategic planning on a business this mean you first aim concerning the business. No one ever want to do something without any aim/goals so your ways towards achieving the aims/ goals is what also called strategic planning.

 

[chicnthin]

Strategic planning is basically strategizing your next moves. Which direction is the business is heading, what are the objectives and goals. It also should help forecasting the potential problems and think ahead ofr solutions.

 

[Nurudeen]

The major purpose of strategic planning on business is that it will help you to make your business move forward and majorly ahead of your competitors. If you fail to plan on business you will definitely fail with such Business because a lot of competition are now in the business and you need to keep your business ahead with proper planning

 

[Lyrrex]

A lot of new business have fallen aside in just few months of starting. Proper planning is very important thing to make in terms of business if you want to run a Business successfully.
Therefore, strategies is a plan of action or steps to take towards the accomplishment of goals that one intended to achieve

 

[Victor-t]

I know something about planning but strategic planning is far from my understanding, so please explain to me according to your knowledge and experience regarding strategic planning.

The purpose of strategic planning is to know what to do at the right time, to make the work more faster so as to achieve something great everyday. To know where the lapses is coming from the work.

 

[Chibson]

planning strategically in business can take the business from small business to big business within a short period of time. I would say that strategic planning is setting specific goals, rules and regulations in which a company or organisation is to follow in order to accomplish their business goals within a specific period of time.

 

[Alexandoy]

Strategic planning is usually related to the proximity of the suppliers and customers. About 2 decades ago there was the need for strategic planning by warehouses here because they are banned in the city. Most of the new warehouses bought land in the suburbs where they built their warehouse. The existing warehouse in the city are still okay to be rented but the rent is exorbitant already. Being far from the source of supplies is also an issue so the warehouses moved with a heavy heart because it was the law.

 

[Zubair]

I know something about planning but strategic planning is far from my understanding, so please explain to me according to your knowledge and experience regarding strategic planning.

Actually when you decide to start a business or already in business but wants to improve it and looking to get more customers towards you, we need to have more plans. We set directions or strategies keeping the end of the path already in our minds. So in that case, we start to set our goals on the basis of days,weeks, months, and years. We try to achieve those targets at any cost. So it becomes our strategic planning. In short, a road map which we have to follow for specific time to boost up our business is our strategic planning.

 

[EMMANUEL]

Strategic planning is in process, meaning it's a continuous thing towards achieving any business ideas or motives towards getting a good standard organization. Is also the process of documenting and establishing a direction for your small scale business and large scale business, by centralizing both where you are and where you’re going. The strategic plan gives you a place to record your mission, vision, and values, as well as your long-term goals and the action, plans you’ll use to reach them. A well-written strategic plan can play a pivotal role in your business growth and success because it tells you and your employees how best to respond to opportunities and challenges. Take, for instance, those things you are to look out for.
How to increase the productivity of your business product.
Always have an idea of your weakness in business.

 

[Nimra Noor]

I know something about planning but strategic planning is far from my understanding, so please explain to me according to your knowledge and experience regarding strategic planning.

I think so according to strategic planning we have to manage our business by making strategies earlier like meeting ,time tables,working hours ,develery product plan I think so like these type of things should be included in strategic planning

 

[redpogi16]

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.

 

[Sotherefore]

it will help you to understand the main purpose for establishing a business and also help you to achieve your purpose as a business manager,it'll help you on how to meet the demands of people that are coming into your business to do business with you and a lot more.

 

[Adexgrace]

Strategic planning of business serves as guideline that control and shapes the business activities. It is very important to plan business so as to know and understand steps to take in the operation of the business. Business planning is a very good idea.

 

[Shayo]

The process of strategic planning is about determining the direction in which you want your business to go.
The purpose of strategic planning in business is likened to having a road map with details on how to get to that destination or direction.
It helps you to uncover ways through which your business can reach its full potential.

 

[Thosynho]

I know something about planning but strategic planning is far from my understanding, so please explain to me according to your knowledge and experience regarding strategic planning.

The purpose of strategic planning is to get everything needed for the smooth running of the business right via a robust research and investigation into everything pertaining to the business. Strategic planning is scientific research and evaluation.

 

[Rashid]

When we want to get some goals in our business then we plan for something strategic to achieve goal. We do this to get enormous profit, when we want to compete other companies then we have to make a plan for this. So it is needed in every business.

 

[Highflyer]

As the saying goes when you fail to plan, you plan to fail, it also applies to business. Strategic planning is the soul of any business, it helps you to know beforehand the risks involved, how to overcome them and the solutions. You need to plan every single aspect of your business, the employees, salary scale and so on. I'm not sure any business can survive without strategic planning.

 

[Planet408]

The purpose of strategic planning in business is definitely because he who failed to plan has automatically planned to fail. You need to know we when to save more money and when to invest some money in your business. You also need to strategize and have good marketing strategies.