How would you define strategic planning?
How would you define strategic planning? What are the differences between strategic and financial planning? What financial problems might an organization encounter when implementing their strategic plan?
Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.
In general usage, a financial plan can be a budget, a plan for spending and saving future income.
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Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.
In general usage, a financial plan can be a budget, a plan for spending and saving future income.
References :
http://en.wikipedia.org/wiki/Strategic_planning
http://en.wikipedia.org/wiki/Financial_planning