The Relationship Between Strategy and Planning
The purpose of this essay is to explore the concept of strategy and strategic planning, and to discuss the main environmental, legal and technological aspects which need to be considered when developing a company's strategy. In order to do this, the essay will firstly define strategy and planning, and will then go on to discuss the relationship between the two concepts. Following this, the essay will discuss how the external environment affects strategic planning, before going on to consider the role of marketing mix in the strategic planning process. Finally, the main legal and technological aspects of strategic planning will be discussed.
2. What is strategy?
There are many different definitions of strategy, but one common theme which runs through all of these definitions is that strategy is a long-term plan designed to achieve a specific goal or set of goals. A company's strategy is therefore its game plan for achieving its desired objectives, and will usually be developed taking into account a number of factors such as the current state of the economy, the competitive landscape, consumer trends and so on.
3. What is the relationship between strategy and planning?
As mentioned above, strategy is a long-term plan designed to achieve a specific goal or set of goals. Planning, on the other hand, is the process of developi