Date Added: Jul 2010
Without a proper business strategy the business has no direction. Strategy maps where one want to go to. One can do the business without strategy, but the results are not what one wants. Strategic planning involves creating a strategy that the business is going to follow over a defined time limit. This can be for a particular department of the business, such as planning a marketing strategy, or as an integral part of the company. Strategic plan is necessary for a small business which must contain a step-by-step instruction on how to achieve the set goals and objectives. Strategic planning is the notion, as a general rule, a "Solution" to many business problems.