For my Business Policy Class: 1- What is strategic planning? 2- Why is it important for all...

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General Management

For my Business Policy Class:
1- What is strategic planning?
2- Why is it important for all organizations to engage instrategic planning?
3- How does strategic planning make management moreeffective?
4- Why is it essential for organizations to have formalobjectives?

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What is strategic planning Strategic planning is a process where the organization leaders or management determine their visions for the future and also they set the prioritiesstrengthen the operations focus energy and resources ensures that staffs and other stakeholders are working towards same goals it helps to establish the agreement around intended final result and asses and adjust the for organization direction based on the change in the market or the environment This is a disciplined process that produces fundamental decision and the action that form and guides what an organization is about What it serve whom they serve what it does why it does with the focus of the future Why is it important for all organizations to engage in strategic planning Strategic planning is important for an organization it provides the direction and outlines the measurable objectives It acts as a tool that guides the day to day decisions also evaluate the progress and See Answer

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