The first three steps of the strategic management process involve planning strategies.
Strategic planning is a system in which an agency's leaders outline their imaginative and prescient destiny and become aware of their agency's desires and goals. The method consists of setting up the sequence in which the goals should be realized in order that the business enterprise can reach its stated vision.
Inside making plans, there are 4 important categories: strategic, tactical, operational, and contingency planning. Strategic planning is a manner that groups use to determine their dreams and targets.
Strategic planning is an agency's procedure of defining its approach or direction and making selections on allocating its assets to achieve strategic goals. it is able to also extend to govern mechanisms for guiding the implementation of the strategy.
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