When you decide you want to perform various activities that can be recorded and will give you a sustainable competitive edge over your rivals, that technique is a strategy. At its core, it is a mental exercise. It is an approach to doing business as well as perceiving the world, waging war, and even more. The process you follow to come up with creative, innovative ideas that form the core foundation of your company and help guide its future is called strategic business planning.
Whether you own a large organization or a small business, strategic business planning works wonders for all companies! From immediate to long-term, it has all kinds of impacts on the organization. The benefits of strategic planning include: