It is planning to differentiate you from your competitors.
We can say that strategic planning will make plan for whole organisation and for long term period.
It is known as corporate planning or long term planning.
We can say that strategic planning will make plan for whole organisation and for long term period.
Characteristics:
- Direction to whole organisation
- Considers all stakeholders
- Gain sustainable competitive advantage
- Considers current as well as future resources and competences of organization.
Examples of Tactics/ Goals/ objectives:
– Pursue a global strategy
– To always be the first
– Beat the competitor
Strategy brings hidden strengths against the weakness of competitor to achieve the goal.
– Macdonald = Providing food at low cost
– Rolls Royce = Providing highest customization
– Nike = High quality product and focus on athletes
Strategy is about choices that what you will do and what you won’t
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