STRATEGIC AND BUSINESS PLANNING

Strategy is developing a plan or technique for achieving some end. In business common strategies usually are market share, stock valuation, dividend yield or profit levels. They are usually long term upwards of fifty years, although more commonly ten to fifteen years into the future. They define the purpose of the organization, answering the what and where of its existence. The strategists provide the resources and supporting policies to the business planners - implementers. Depending on where the concern sits on the Management Continuum will determine the stakeholders responsible for formulating strategy. Those responsible for strategy review it once every three years. Most importantly, they are responsible to ensure that the business plans approved are consistent with the strategy.

Business plans are tactics; which are the science and art of managing resources in the face of competition or opposition to achieve immediate or short-term objectives. The business plan answers the how and when for the organization. Business plans are ideally no longer than three years in duration, commonly are in one year increments. They are the building blocks moving the enterprise towards its strategic end. Depending on where the concern sits on the Management Continuum determines the stakeholders responsible for developing and implementing business plans. Those responsible for business plans are responsible to ensure that they fit the strategy and build towards it by orderly and efficient use of resources provided. Most importantly, they are responsible to ensure that the business plans are receptive to incremental shifts as opportunities arise.

EXAMPLES OF SUCCESSES AND FAILURES