By contrast, the purpose of the business plan is to provide the detailed roadmap that will take you in your desired direction.
Your strategic planning and your business planning should be complementary, but effective strategy development requires you to shift your focus from the day-to-day concerns of your business and to consider your broader and longer-term options.
A strategic plan needs to be realistically achievable.
As with any business activity, the strategic planning process itself needs to be carefully managed.
A business plan is about setting short- or mid-term goals and defining the steps necessary to achieve them.
A strategic plan is typically focused on a business' mid- to long-term goals and explains the basic strategies for achieving them.Growing a business means taking many decisions about the way you want to expand your operations.Creating a strategic plan is a key component of planning for growth.- is at the heart of the strategic planning process, it can only be considered usefully in the context of the other two.You should balance your vision for the business against the practical realities of your current position and changes, such as increased investment in capital and other resources that would be required to implement your vision.These models provide a simplified and abstract picture of the business environment.SWOT (strengths, weaknesses, opportunities and threats) analysis is probably the best-known model and is used by both smaller and bigger businesses in the for-profit and not-for-profit sectors alike.But don't neglect the outcome - it's also important to make sure you capture the results in a strategic planning document that communicates clearly to everyone in your business what your top-level objectives are.Such a document should: Strategic planning is about positioning your business as effectively as possible in the marketplace.Responsibilities and resources need to be assigned to the right people and you need to keep on top of the process.Who to involve Try to find people who show the kind of analytical skills that successful strategic planning depends upon.