Strategic Planning

Question 1

Strategic planning

Answer 1

Management tool to set priorities for future of business. its a plan of where, how it’s going to get there, and how they know they got there.
Determines how a business intends to compete and survive in the marketplace, long term

Question 2

SP documents

Answer 2

Used to establish purpose and future direction, framework to develop goals.

• vision statement
• mission statement
• goals
• objectives
• strategies
• Tactics

Question 3

Vision statement

Answer 3

Statement of where the company wants to be as a result of their services. Future based

Question 4

Mission statement

Answer 4

Actionable statement that clarify’s what, how and why by defining the business’s cultural values, culture and ethics. Present based