Hence, strategic planning incorporates devising a strategy according to the future or present strategies of your competitors and customers and strategically placing yourself in a desirable position (Plesk, 1997).
Strategic management is somewhat similar to strategic planning yet it is more present focused rather than only future oriented. It involves the proper allocation of resources and their utilization, setting of objectives and aims for the firm, and incorporating the firm’s vision, mission, and future goals. However, strategic management is not only based upon devising policies and objectives, but involves the implementation of these policies and objectives according to the needs of the external environment (Goldstein, 1993).
While it is very important for any business to plan, strategize, and implement its goals, policies, and objectives, it is just as important for institutions such as schools. Education is a highly competitive business sector in current times and in order to succeed and survive in this sector, strategic management and planning is just as essential as any other market (Whittington, 2007).
The educational sector also has to focus upon competitors’ strategies, efficiency of resources, maintaining costs, and providing a high quality service. One of the most important parts of strategic management for schools is maintaining personnel and qualified teaching staff as well as maintaining an appropriate curriculum according to the standards expected by their consumers and the standard maintained by their competitors (Rosenhead, 1998). Moreover, there are several other decisions to take such as appropriate and easily accessible location, safety standards, keeping costs to a minimum while providing a fully equipped infrastructure, proper curriculum, and fair/proper examination standards.
While improving a defective product and maintaining quality standards may be difficult in tangible products, however they are even more