What is the purpose of strategic planning in Business?

[Samuel77]

The purpose of strategy planning in business is to make your business unique and also make it more better and easy for you to do, it also makes your business grow fast

 

[Cash%]

Strategic plans helps the business in so many ways ,many business are lacking a lot in terms of growth and having a strategic plans helps improve the business too

 

[Abezol21]

Strategic planning is the art of creating specific business strategies, implementing them, and evaluating the results of executing the plan, in regard to a company’s overall long-term goals or desires. It is a concept that focuses on integrating various departments (such as accounting and finance, marketing, and human resources) within a company to accomplish its strategic goals. The term strategic planning is essentially synonymous with strategic management.
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Strategic planning is the art of creating specific business strategies, implementing them, and evaluating the results of executing the plan, in regard to a company’s overall long-term goals or desires. It is a concept that focuses on integrating various departments (such as accounting and finance, marketing, and human resources) within a company to accomplish its strategic goals. The term strategic planning is essentially synonymous with strategic management.

 

[Sheyemanu]

If you asked me personally, I would say that the purpose of strategic planning is to set overall goals for your business and to develop a plan to achieve them. It involves drafting out a plan on your activities whether on a daily or weekly basis

 

[Adventurer]

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.

Your explanation hit the nail on the head, every business owner needs to be strategic to be successful. That's why a business plan is highly recommended

 

[Victor72]

The purpose of strategy planning in business is to have your own uniqueness in that line of business and also to gain more customers due to your good strategy

 

[Akinwale701]

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 helps you to prepare your business strategically against competitions from those in the same line of business. It also helps minimize cost.

 

[Psalmseen]

Just as the saying goes that to fail to prepare is to prepare to fail. For every business to be successful, it needs strategic planning. You look into lots of essential factors that may serve as challenges

 

[Grant]

Here's the thing, every business needs a plan, and planning in general. No business is free from that aspect of the job. The purpose simply put, is that you're going to need to make plans.

 

[Setho]

Sometimes in business, what differentiate two businesses in terms of how their plans are being able to convert is their strategy. You have to constantly study completion, the market and your customers in other to come up with strategies on how to win customers yo your advantage.

 

[Alogakho Esson]

Strategic planning helps you to avoid losing focus. It helps you to always reevaluate your goals and how you are working towards achieving them in business.

 

[Justin]

You need to do strategic planning in order to make your business successful and recover from all possible losses. Strategic planning is necessary for your business to take a strong position in the market

 

[Anna52]

Planning strategically can be linked to planning technically. This means that you have to take a careful and concise step in planing, strategic planing are in different levels.

 

[Abbeyola]

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 in business organization, in to achieve organizational goals and development, as well as make profit.

 

[Eodine]

Planning is like the mind's preparation for a target or goal so strategic planning would be the systematic activities that would be put in place in order to achieve goal or target. Plan has a broader view, strategic planning narrows it down to series of activities on how to get it

 

[Setfragil]

The purpose of strategic planning in business help the business to plan it business activities ahead of time for a successful business experience. Without a good strategic business plan, the business will fail.

 

[Billy]

Generally, planning is an important part of any business or any project in that matter. More so, strategic planning is even more essential because it sets the targets and goals for your business or projects. It also keeps you or your staff on track while trying to achieve the set objectives.

 

[tyrim88]

The essence of strategic planning in business is very important.strategy is a kind or form of idea formulated,design and and implimented to achieve a set objectives.strategic planning is important in business because you design a futuristics outline on how to remain relevant in that sector,and also evolving yourself as times changes in order to remain profitable in business,you can apply that in other areas such as marketing,ad,and finance.

 

[Kingsley]

Strategic planning enables us to look critically into the business we have in mind and helps to check the nitty gritty of the business. Strategic plan helps to ensure the business succeeds and it help to look out for areas of weakness and areas where the business might simply have more risks.

 

[Kelly5]

Strategic planning in business helps to plan for those unforeseeable circumstances that may arise in the course of business and profering ways to handle them when they come