What strategic planning and execution means in the context of business operations
- Thread starter Stardom22
- Start date
Strategic planning is the process in which a company's top management define their vision for the future and identify the company's goals and objectives. The process includes establishing the steps which should be taken to achieve the goals. Execution is to carry out the steps being planned.
Everything bothers on having a business blueprint on how you run your business and make sure you follow it to the latter because once you start working outside your business plan, you are definitely going to find it very challenging.
It is true that a good plan and execution goes hand-in-hand for the success of a business.
Strategic planning and execution has to do with an idea or an approach being carefully weighted against other alternatives and continuously being reviewed in execution.
Doability is the bane of strategic planning. Most times, businesss persons have plans but they fail to examine if that plan is doable. Can it be executed in real life. Plans are easy to make on paper. Executing it on ground is always the hard task.
Strategic planning requires that you have a well tested and laid out plan to pursue your business plans with backup options.
When a business makes strategic planning, it means that they consider all possible factors that can possibly affect their plans.
That's true, it's one thing to have a good business plan, it's another thing to be able to execute or carry it out. Most times it is usually due to poor management.
