Failing to plan is planning to fail -some statements never go out of style
Entrepreneurs and business managers are often so preoccupied with immediate issues that they lose sight of their ultimate objectives. That's why a business review or preparation of a strategic plan is a virtual necessity. A strategic plan can provide the foundation and frame work for a business plan.
Strategic planning is an organization's process of defining its direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.
At one company after another, strategy is a major focus in the quest for higher revenues and profits. With help from a new generation of business strategists, companies are pursuing novel ways to hatch new products, expand existing businesses, and create the markets of tomorrow. This has become a part of the main agenda at lots of organizations today.
Albeit "battles are often lost for want of nails", a company rarely succeeds or fails for minor or trivial reasons. When companies get their strategies wrong, the results can be disastrous. Every new change forces all the companies in an industry to adapt their stratagem to that change. If one sat around and didn't recognize the thing and didn't understand it, someone else would take leadership.
At Infoscape Software Solutions we assist our clients in strategy formulation to prepare sound business procedures by leveraging their internal competencies and our best practices. For us, Strategic Planning is an approach to bring in systematic and integrated improvements in the management processes to ensure efficiency and effectiveness in strategy execution. We help our clients achieve integration of management processes that underlie the strategy execution. This provides direct linkages between resource allocation, business & operational planning, risk management, etc. with premeditated goals and objectives running across every facet of organization as the common theme.
A strategic plan might include the preparation of a full-blown business plan, compilation of financial projections, undertaking market research, product development, management team-building etc.
Strategic planning saves time, every minute spent in planning saves ten minutes in execution.
If you don't know where your business is going, any road will get you there.