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Strategic Business Plan

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Developing a Strategic Business Plan
Either in the start up process or when re-inventing one's business development, the design of a strategic business plan is an indispensable step towards a successful and viable business. Strategic planning involves setting up a sound and multifaceted plan or strategy to follow over a defined time period.It can involve all aspects of the business, or just a small part of it i.e. a selected department such as the marketing department.However, this does not mean that strategic business planning is only for large scale businesses since it can also benefit the small business, especially at start up, when the business sets its first goals and establishes itself in the business landscape. Writing up a business plan is an important step of a starting business, since most lending bodies will not authorize loans in absense of a detailed business plan.Why is it important? Imagine sailing off for a voyage in the sea and not planning for resources or supplies that you might need. Developing a business plan is the only way to determine the allocation needs, personnel, utilities, marketing goals, outreach and all valuable aspects that make your business useful and unique in the sea of business. However, strategic planning is a process employed in any time period in a formal business administration, since it usually comprises of a long range planning process of a specific or broader managerial aspect, that will in a time-frame manner set the outline of the business' goals and image and ultimately form its policy. To be successful, a strategic business plan, either at start up or as a means of sustainment of a particular policy, should provide with day to day reference for the decision making in organization and management of the business and should

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