Strategic Planning Process
In the modern business competition, having a strategic plan is vital. A strategic plan includes having a mission statement that describes the vision of the company. With the guidance if the vision the company states its objectives as part of strategic planning process.
The other important component of a strategic plan is an environmental scan, which reveals potential threats of the company as well as strengths. Strategic formulation is another important part of planning strategically which seeks to enable the company to attain much needed profits and to be superior to its competitors.Continue reading