What is the purpose of strategic planning in Business?

[Mayox25]

Strategic planning is when the company is been positioned for achieving a set goal in a foreseeable future so as to make the company to continually be a relevant player in their sector.

 

[Ceeny007]

Strategic planning involves the process of making lightening quick decision,it involves planning ahead of time,when where and how to adjust.what methods to adopt, you must have plan a,b,c and so in and so forth

 

[Setfragil]

Strategic planning helps business owner to be decisive in their business decision so as to have a good business experience on a daily basis.

 

[Lens]

The business plan could be likened to the oxygen through which the business breath . You would fail along the line if there are no proper plans that is supposed to guide you through the running of the business. A good business plan would tell you the forecasted future of the business and you would definitely achieve it if you followed the plan.

 

[eLdavis]

Strategic planning involves the process of making lightening quick decision,it involves planning ahead of time,when where and how to adjust.what methods to adopt, you must have plan a,b,c and so in and so forth

The part you said lightening quick decision really got my attention. You have a point though, strategic planning is a must for every business owner, I see it as the back bone of the business that would help the manager know the right thing to do at the right time.

 

[ahmedo24]

The part you said lightening quick decision really got my attention. You have a point though, strategic planning is a must for every business owner, I see it as the back bone of the business that would help the manager know the right thing to do at the right time.

It is actually the backbone of a business because when you have a strategic plan for your business it means when the business is facing challenges you already have plans to overcome the challenges and be ahead of the game.

 

[Jlife]

Strategic planning in business will help you to understand all the requirements that the business will needs and also the possible challenges of the business,this will help you to prepare how you will hand them one by one.

 

[akinlolu99]

Strategic planning on business is very importance as a matter of fact it cannot be under emphasized. Planning in general is not the most important things this life you planning to eat man went to sleep planning to go to work plan even when to wake up so my point is agencies planning business goes a long way I want to be able to understand how far he or she is willing to go and has gone.

 

[tuna89]

You are right, strategic planning will also make you understand what the customers want and their buying power, will also make you understand the concept of marketing to be used and how to retain your clients.

 

[jeff87]

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 is simply planning on what to do with your business. You plan and allocate budget to your business. It's like planning for your destination.

 

[btaliat]

When we fail to plan, then we have planned to fail. That's why we don't need to joke with planning when it comes to business.

 

[Setho]

It is not just enough for you to plan that you will want to build your business to 1,000 customers but then you must have to devise a strategy that will ensure that you are give this and that is Strategic planning.

 

[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.

Businesses without strategic planning are prone to failures on several fronts simply because it not just enough for a business to have plans that it is not possible for it to implement but having strategic plans that will benefit the business in the long term is the way to go.

 

[Kunkun]

Business planning done right connects the dots in your business so you get a better picture of the whole. Strategy is supposed to relate to tactics with strategic alignment. Does that show up in your plan? Do your sales connect to your sales and marketing expenses? Are your products right for your target market? Are you covering costs including long-term fixed costs, product development, and working capital needs as well? Take a step back and look at the larger picture.

Well said here, it's important to ask the right questions moving forward so that way one could know what's going on in the business so as to be prepared for anything circumstances that could come unforseen too

 

[Setho]

Strategic planning in business is going to help you to a device a particular way in which it is going to be much efficient in your actualizing your goals out of many that you have.

 

[Solutionav]

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 is very important because it gives your business direction of where to focus and also help you know how to make your product known and make profit

 

[Maayong]

Every business have their own goal and in order to achieve this goal you have to have your own strategy in order to help the business to grow

 

[JoeTom]

In busines, if strategic planning is done, there will be a very slim opportunity for failure to set in. The reason is by the strategic planning and you following same, you'll sure cash out.

 

[Ralphjoe]

A Strategic Business Plan is much more than a tool to obtain financing. If you still have all you plans and ideas locked up inside your head, preparing a strategic plan helps you clarify your company's direction, ensures your key leaders are all "on the same page" and keeps both management & staff focused on the tasks at hand.

I think from the word strategic planning we can imply that it's a business planning that involves a good strategy that is a use of a plan that involved a good way to also implement that plan. I think all businesses should engage in strategic planning for them to be successful.

 

[Tislad]

Planning in business is very important it make you know what direction to go and how to get your customers because with them you make your profit

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.