What is the purpose of strategic planning in Business?

[GIFTMICHAEL]

When you strategically plan for your business, their is every possibility of your business bringing you profit long time cos you have strategy that differs from others which is profitable in the business long run.

 

[Bookwormlux1]

Strategic plan help to serve as a daily motivation as you always remind your self of that which you have planned to achieve at the beginning.

 

[Heatman]

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.

Well, as far as I'm concerned when it comes to any kind of business set up, when you are not careful with your business planning, you can actually get it right.

 

[Snazzy001]

This ensures step-by-step planning a kind of approach towards goal achievement in business and is necessary for the business survival and success

 

[Razor1911]

This ensures step-by-step planning a kind of approach towards goal achievement in business and is necessary for the business survival and success

If we don't have plan, the can't deal with unforseen situation. There might be many a times when we will need to deal with adverse situation, having a proper plan will help to tackle with such hard times.

 

[skyliequiz]

is to identify broad corporate objectives and devise a strategy for achieving them. It's a tool for making day-to-day decisions as well as analyzing progress and modifying strategies as you move forward.

 

[Yusuf1]

Strategic planning to me simply means planning based on the availabilities of resources on ground. If you over strategies without having the required resources, it can mar the growth of what you are planning to do

 

[Kelly5]

Strategic planning involve everything about productive thinking. A pattern of thinking that projects or anticipates probable outcomes and how these outcome would be tackled and treated if they eventually occur

 

[Abigael]

I think strategic planning comes from the word strategy. So this means that a business should strategies in which it is run. This includes coming up with strategies to minimize risks and to survive amidst competition.

 

[Yusuf1]

Strategic planning to me simply means planning based on the availabilities of resources on ground. If you don't have any strategy to setup your business on, it can mar the progress or growth of the business in the long run

 

[Chibson]

Strategic planning is very important in any business because he gives you an edge over your competitors and also make the business to grow.

 

[Setho]

In business it is not just enough to want to market your business products show me department of strategic planning care brings about the exact strategy that will ensure that customers buy from you.

 

[Sotherefore]

Strategic planning involve everything about productive thinking. A pattern of thinking that projects or anticipates probable outcomes and how these outcome would be tackled and treated if they eventually occur

Nice explanation ,but do we have to think strategically before we can succeed in a business ? Because I just believe that you can go into a business with just a normal planning that is necessary for a perfect business.

 

[Senator]

With a very proper strategic planning process in any business, that business will hardly fail in the long run. Why this is so is because the purpose of strategy is to have a working plan for any eventuality that might affect the business adversely

 

[Bousine123]

It will help you in making great and resourceful businesses decisions. Without it, you may find it difficult to run your new business.

 

[Alexandoy]

With a very proper strategic planning process in any business, that business will hardly fail in the long run. Why this is so is because the purpose of strategy is to have a working plan for any eventuality that might affect the business adversely

You are right that a working plan is important for the business to succeed. The strategy is basically for the income generation vis-a-vis the supplies that you purchase. The competition is also included as part of the game.

 

[Jlife]

Strategic planning will help you to understand what is necessary for you to run a successful business, you will know how much and the overall material that will be needed to establish the business.

 

[FreshKaz11]

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.

Before anyone could start a business or anything that he or she wanted to be successful into, he or she must have a great strategic planning because with that the result will be a great one I guess.

 

[Setfragil]

Strategy planning is very important in business because without a good strategic plan, the business will lack purpose and direction which will makes it difficult to achieve the goals of the business.

 

[akinlolu99]

strategic planning and business are highly important for the growth and development of the business is matter of fact funny Business to thrive properly a plan is needed, a 1-day plan in one week plan in one month plan 1 year plan and at times even a five years plan is good because it helps the person know what direction and the level of progress they are and have made so far.