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2 years ago
Write a short note on strategic plans.
Textbook 
Management
Edition: 3rd
Authors:
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2 years ago
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Strategic plans focus on the broad future of the organization. Incorporating both external information gathered by analyzing the company's competitive environment and the firm's internal resources, managers determine the scope of the business (products and services the firm provides) to achieve the organization's long-term objectives. Research shows that the rigorous use of strategic plans is associated with superior financial performance. Strategic plans cover the major aspects of the organization, including its products, services, finances, technology, and human resources. Most strategic plans focus on how to achieve goals three to five years into the future.
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