Business strategy of every enterprise which works in the market first of all concerns only the formation of general idea of the future and doesn’t concern any details and components. It doesn’t closely connected with the structure and the state of the existent resources because changes are inevitable. Organization implementation of business strategy is strategic planning.
Strategic planning is the documental subscription of the chosen strategy of the company’s development.
Strategic planning first of all is the process of modeling of future. So all aims should be defined and conception of the long-termed development should be formulated in accordance with strategic planning. On the second hand this is the management process of creation and support of strategic correspondence between company’s aims, its potential capacity and chances on the perspective. And thirdly strategic planning is the adaptive process results of which are regular (annual) corrections of decisions in the form of plans, overview of measure system of fulfillment of this plans on the basis of continuous control and estimation of current changes in the company’s activity.
Strategic planning is characterized by the following features:
– it includes a variety kinds of planning company activities. Financial planning’s of different periodicity are suggested in strategic plan – long-termed, middle-termed, short-termed and current. Also plans of different functions are included here: marketing plans, plan of production, plan of personnel and so on.
– It includes many stages, it is sequential and parallel process which take into account many decisions.
– It is the function of direction but not of time.
– It reflects the innovation character of the plan.
– It consists of the complex of global ideas of the company.
– It suggests the perspective direction of the development.
– It diagnoses “goosenecks” of business.
– And some others.
The principal differences of the strategic planning from business plan first of all are concerned time, category of awareness, specified work out of the schemes of actions. Strategic plan is more long-termed and business plan is higher in awareness. Besides business plan is more specified.
The use of strategic planning allows to make financial projections. Also it allows to show the main directions of future development of the company.
The property of all plans can be checked during due diligence.
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