What is the purpose of strategic planning in Business?

[Sotherefore]

This type of planning can sometimes be done alone but it is most likely to be done with business expert, it is the planning that consist of whatever that will be needed for a sustaining of a particular business it can be in terms of finance, the location , the atmosphere and so many other things.

 

[cowantussie]

The purpose of strategic planning is to set overall goals for your business and to develop a plan to achieve them. It involves stepping back from your day-to-day operations and asking where your business is headed and what its priorities should be.

 

[Ehizzy1]

In my own point of view strategic planning is more like having great plans and ideas on how to increase your business portfolio and have more customers

 

[Kayzzy3]

In my own point of view strategic planning is more like having great plans and ideas on how to increase your business portfolio and have more customers

That's a part of it but it is more of a business plan. Strategic planning in essence narrows your so many plans to a point of focus especially a focus of strength for your business the will help put you above your competitors and contemporaries or rivals.

It's the plan in your business that you don't divulge to a non-team member, your competitors just see your doing it and they are amazed.

 

[Ralphjoe]

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.

In my own simple understanding strategic planning has to do with those kind of plans that are specifically targeted at a specific goal that you want to achieve and in this kind of planning you make sure all the nitty-gritty of The venture they are planning is tailored to meet your objective and goals.

 

[Setfragil]

Strategic planning involves carefully executing all the functions of a business operations which involves, controlling, directing, planning and organizing. When a business has good strategy it day to day activities will be easy to run without difficulties.

 

[Ralphjoe]

Strategies Planning is a first and most important and imperative 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.

I love the way that you expanded on the topic of strategic planning and I would love to have some little information to this that strategic planning has to do with a specific goal oriented plan that is geared towards a specific goal and objective.

 

[Bookwormlux1]

Strategic planning is key as it plays a very good role in helping so many people to focus on any goal that they have got in mind to do. It is used to achieve long term goals in business.

 

[Setfragil]

Strategic planning helps to gives or determine your business purpose or the direction on where it is heading to, either to succeed or to fail.

 

[Deucalion]

Strategic planning is key as it plays a very good role in helping so many people to focus on any goal that they have got in mind to do. It is used to achieve long term goals in business.

One of the function of strategic planning i know in a business is that it will help you to determine what is necessary to run a business successfully no matter how difficult the business might be, it is necessary in all areas of business.

 

[kay169]

The actually purpose of strategic planning in a business is to effectively manage and utilize the available resources to the fullest efficiently and also for proper management of the company firm.

 

[Ralphjoe]

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.

I completely agree with you in my opinion I will say that making specific goals and objective and also strategizing on ways through which you can implement these goals and objective will definitely bring in a more effective result for anything that you set your mind on achieving.

 

[eLdavis]

Strategic planning iS a type of planning that is usually done by most companies and organizations whereby the organization focus their priorities and energy on a particular aspect of the organization

 

[Bookwormlux1]

The actually purpose of strategic planning in a business is to effectively manage and utilize the available resources to the fullest efficiently and also for proper management of the company firm.

Without planning, it is always difficult to make effective use of the resources available in harnessing the progress of a business.

 

[Kelly5]

I think the purpose of strategic planning in business is to make us see to it that certain unforeseen circumstances are treated and wisely contained as quickly as possible not to cause further losses to our business

 

[Alexandoy]

I think the purpose of strategic planning in business is to make us see to it that certain unforeseen circumstances are treated and wisely contained as quickly as possible not to cause further losses to our business

Strategy is actually a plan that is meant to take advantage of the resources at hand in order to control the elements outside our jurisdiction. One example is the social distancing required by the government. The business has to have a recourse to counter that problem of social distancing. Restaurants are using the delivery system to maintain their revenue.

 

[Bookwormlux1]

Strategic planning enables you to consider the kind of reaction you are likely to get from people and how best to respond to them.

 

[Setho]

Every business has a goal that they would love to achieve and in that they need a strategy clear enough to make them go there and that is the use of the department.

 

[Psalmseen]

Strategic plans is very important in a business set up. You really need to set your plans right. The strategic plans is what serves a blue print for the business and it's what you'll always use as guide towards achieving success

 

[Funky]

Strategic planning is really important in business set up because it helps to navigate the way the business is going and how to rise from challenges.