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Spell out these broad strategic intentions of the strategic plan in other types of plans, including business plans.
At each stage the planner asks, "What must be done here to reach the next, projected stage of performance?
"In contrast, ‘strategic’ business planning does not assume you can simply extend the recent past into the forecast future.
When the business plan clearly expresses the corporate strategy, the process of preparing it may be 'strategic'. External audiences such as prospective investors can also use strategic business plans.
The usual ‘business plan’ details the past, present, and forecast performance of the business in financial terms.
Very detailed financial projections, which might extend much beyond one or at most two years, cannot be believed.
The description 'strategic business planning' may be confusing.
To convince the prospective finance providers that the seekers know what they are doing, they go into a lot of detail.
However, as the details become finer grained, the confidence we can put in the figures starts to fall.
I think it is helpful to separate the term ‘strategic’ from the term ‘business’.
Corporate strategic planning differs from business planning. They have different planning time horizons, different flavors of forecasts, different levels of detail, mostly different intended audiences, and a different balance of words and numbers.