Strategy Business Plan University Of Florida Essay Prompt 2011
At every stage of strategic-planning the planner asks, "What must be done at the earlier stage to reach here? It is flexible in choice of its means of achieving the desired end state.
A business plan summarizes the firm’s operational and financial objectives for the near future. For the audiences inside the organization, a business plan functions as a kind of blueprint to guide the organization’s activities.
I think it is helpful to separate the term ‘strategic’ from the term ‘business’.
Corporate strategic planning differs from business planning. They have different planning time horizons, different flavors of forecasts, different levels of detail, mostly different intended audiences, and a different balance of words and numbers.
Let us look at each individually, and then see what sense we might make of them together.
In general, a strategic plan is a broadly defined plan aimed at creating a desired future.
These two things are strategic planning and business planning.To convince the prospective finance providers that the seekers know what they are doing, they go into a lot of detail.However, as the details become finer grained, the confidence we can put in the figures starts to fall.Strategic planning is a systematic, formally documented process for deciding the handful of major decisions that an organisation, as a corporate whole, must get right in order to thrive over the next few years.The process results in the production of a corporate strategic plan.When the business plan clearly expresses the corporate strategy, the process of preparing it may be 'strategic'. External audiences such as prospective investors can also use strategic business plans.The usual ‘business plan’ details the past, present, and forecast performance of the business in financial terms.This usually involves extrapolating from past performance to forecast likely future performance.This makes sense in a stable or very slowly changing environment.Spell out these broad strategic intentions of the strategic plan in other types of plans, including business plans.You might call business planning that converts the corporate strategy into clear actions with resources strategic business planning. While there may be some overlap between strategic planning and business planning, they are not the same thing.