What Is Strategic Business Planning

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’.These two things are strategic planning and business planning.

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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.

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.

Unfortunately, the terms strategic planning and business planning have multiple meanings. When put together as strategic business planning it can be even less clear.

Let us look at each individually, and then see what sense we might make of them together.

Strategic business planning is the planning done by top managers to guide the progress of an organization as a whole.

Using such a description for planning at the corporate level can be confusing because it muddles two things.

This makes sense in a stable or very slowly changing environment.

At each stage the planner asks, "What must be done here to reach the next, projected stage of performance?

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