Strategic Planning - Essay Example

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Strategic Planning

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). Discussion 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). ...Show more

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Running Head: Strategic Planning Strategic Planning Strategic Planning Introduction Strategic Planning and management is essential for every organization and business. Every organization has to plan its future strategy and mould it according to consumer trends, demand, expectations, and competitor’s strategies…
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