What is Strategic planning?
A strategic plan is simply a program or way to manage resources so as to make profits. A well documented strategic plan also help raise finance for the business.
Further, a strategic plan is a detailed long term action plan of where you want to take your business and how you want to get there.
Some managers think of the plan as a business blueprint. Others consider it to be a road map, management mix, game plan etc. These terms all have one thing in common in that these are emphasis the importance of plans as guidelines toward the achievement of specified goals.
A brief outline of a generic strategic plan is given below:
Current Performance Analysis:
|Market Plan||People Plan|
|Product Plan||Outsider Plan|
|Finance Plan||Selling the Plan|