Planning in simple words can be defined as formulating ways of proceedings or determining the tasks that need to be carried out. Planning involves a rational and orderly thinking of ways. It is a mean with the help of which desired goals can be achieved.

Strategic planning on the other hand is nothing different from planning but it is a series of lesser plans. For instance, plan for sales, plan for the products to be manufactured, plan for marketing, the required level of company’s profitability etc. Strategic planning does not trigger direct action but it is a process of deciding on objectives of the organization, determining policies to attain these objectives, how to arrange resources and alterations if required.

It is a long term planning and usually concerned with whole organization. Thus it involves divisions and sub divisions of the whole enterprise into departments, sections, jobs, positions and assignment of work according to the knowledge, skill and interest of individuals. …read the rest of this entry»