What Is Strategic Business Planning

These two things are strategic planning and business planning.These would be better understood as distinctive kinds of plans; separate and related.However, as the details become finer grained, the confidence we can put in the figures starts to fall.

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It begins with the desired-end and works backward to the present.

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.

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.

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.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.The strategic plan is different from the business plan. If you must use the phrase strategic business planning, I urge you do it with a clear definition of strategic planning in mind.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.However, sometimes it is just a matter of trying to make the ordinary business planning sound a bit more important than just a budget!I think it is helpful to separate the term ‘strategic’ from the term ‘business’.Understand that a strategic plan differs from a business plan in three ways -I define strategic planning differently to some others. Begin with a clear understanding of and commitment to the enduring purpose of the organization.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 usual ‘business plan’ details the past, present, and forecast performance of the business in financial terms.Therefore, it usually contains pro-forma balance sheet, income statement, and cash flow statement.


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