What is the purpose of strategic planning in Business?

[Abezol21]

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.

Strategic planning is important to an organisation because it provides a sense of direction and outlines measurable goals. Strategic planning is a tool that is useful for guiding day to day decisions and also for evaluating progress and changing approaches when moving forward.

 

[Nuonuh]

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.

strategic planning simply is a way organization or company adopt to avoid and be able to deal with unforeseen circumstances that may be harmful to their business in one way or the other

 

[Ezzyoj]

Strategic planning helps you to guide your business right, it helps to know when you are taking the right decision, it can also help you to navigate your in the market, A successful business has a good business planning at the beginning . No business succeeds without strategic planning for the business.

 

[Kinglegend01]

A strategic planning is a carefully played out process of events and actions that would lead to the success of a particular project or event. Lime I said its main purpose is to achieve the success of what you desire to achieve.

 

[Tayfem]

In strategic planning, this is where you meet up with a particular goal where you achieve them. How you strategize your plan will determine how fast your business will move. So the purpose of this be able to accomplish your goal

 

[Mostee501]

Strategic planning has to do with the organisational management exertion use in setting priorities,strengthens the way things are done and make sure that management board and employees are working in the same direction to achieve success.

 

[sam386150]

Strategy planning is a very good thing no matter how much you think you know a business or have the required capital or connection in doing your business if you do not have a strategic plan of how you intend your business to grow or move then you are definitely ready to fail in that business

 

[Rom90]

The strategy planning in a business is important because he who fail to plan we plan to fail,
Strategies plan help a business to move forward
Without a proper planning before starting a business, it destroy the business,
But when we plan, it makes our business more easy ,we would know where we're heading to.

 

[Josephjossy]

Every business needs a plan, there is no way you can build a business or startup a company with planing how the company or the business will be run. Lack of business planing have result to the collapse of so many businesses, you need to plan the business very well for it to stand fame

 

[Emma19]

Strategic planning helps a business to use all it's available resources efficiently as to generate profit and minimize cost. Since proper and more safe approach towards dealing with business issues, adverse effects and hazards situation are well thought of.

 

[Neta Sam(Samuel Odunlade)]

Strategic planning as it implies, means you need a strategy or have a strategy for the business. If you have a strategy is a good one it shows you have a plan for your business and you want to make success and profit in your business.

 

[Billy]

There are different types of planning necessary for a business to function successfully. Strategic planning entails using the current and past lessons to plan for the future. This is very important in foresight for the business.

 

[emmitus]

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.

 

[Kane]

Strategic planning is just another word for planning.People use adjectives just to highlight the word or concept. You need to plan your business, call it a planning or strategic planning, it does not matter much

 

[Neeta313]

This is very important when it comes to business. It would help you know all that there is to know about the business your venturing into, like the best marketing strategy to use, your competitors, best location where your business will thrive and so on. This will actually play a role in how your business turns out in the long run.

 

[Deebabs123]

A strategic plan should not be confused with a business plan. A business plan is about setting short or mid-term goals and defining the steps necessary to achieve them. A strategic plan is typically focused on mid to long-term goals and explains the basic strategies for achieving them.

 

[Kane]

When you plan strategic planning, you will become successful irrespective your of business niche and irrespective of your business size, Strategic planning means you plan your investment properly, you manage your expenses properly.

 

[Jumoke12]

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.

Strategic planning, in business helps to identify key areas that need urgent attention and from this, it could be deducted if a business or company will perform well or poor in thefuture

 

[Sotherefore]

Strategic planning is a tactical and scientific prediction of future event of a business, this is important as it can help you understand what will happen in the future.

 

[Josemendez]

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.

It is similar to planning but better than it , because here one is able to decide a strategy with which he will carry out his plans . This helps him to be focussed in the plan .