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Strategic planning is a process in which an organization’s leaders define their vision for the future and identify their organization’s goals and objectives. The process includes establishing the sequence in which those goals should be realized so that the organization can reach its stated vision.
Specialized plan to outperform the competitors. Details about how managers must respond to any change in the business environment. Redefines direction towards common goals. Reflects the concern to effectively mobilize resources
A good rule of thumb, particularly if you are seeking funding for a strategic plan, is to assume $10,000 for a well-researched, thoughtful process that engages all of your stakeholders and produces a plan that clarifies future direction and action
Why It’s Good
A strategic plan allows you to put these business challenges into perspective. It gives you the foresight you need to tackle them in a coordinated way. You’ll have a better view of the ways your business is affected by any particular problem, which in turn makes it easier to take control of your own future