What Is Strategic Business Planning Samples Of A Research Paper
Strategic business planning is the planning done by top managers to guide the progress of an organization as a whole.Using such a description for planning at the corporate level can be confusing because it muddles two things.It also includes translation of this vision into objectives and a set of programs and projects to achieve them.The kind of thinking involved in business planning that is 'strategic', differs from long-range planning.Long-range planning with the present and sets out steps to meet estimated future needs.This usually involves extrapolating from past performance to forecast likely future performance.It is the elephantine nature and long-term impact on organizational performance that sets strategic planning apart from other types of planning.Spell out these broad strategic intentions of the strategic plan in other types of plans, including business plans.
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.This shows how the funds requested will affect the organization’s financial position.To convince the prospective finance providers that the seekers know what they are doing, they go into a lot of detail.The description 'strategic business planning' may be confusing.If such business planning is business planning aligned with, and designed to implement corporate strategy there would not be much of a problem."In contrast, ‘strategic’ business planning does not assume you can simply extend the recent past into the forecast future.It requires taking into account significant change in the environment.Unfortunately, the terms strategic planning and business planning have multiple meanings. When put together as strategic business planning it can be even less clear.Let us look at each individually, and then see what sense we might make of them together.This makes sense in a stable or very slowly changing environment.At each stage the planner asks, "What must be done here to reach the next, projected stage of performance?