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First Definition of Planning Planning is an organized process of thinking in advance about a future action. It means the preparation of the plan, i.
Planning is a future-oriented activity that takes place in routine decisions of a family, a friend group, a college, government and most importantly in business management. It requires good judgment skills for choosing which action is to be done earlier or later to avoid overlapping in actions.
Planning process Planning needs goal setting for which planning needs to be done after that alternative courses of action are found and finally deciding which plan will lead to your destination successfully.
The creation of complementary plans is also a part of the planning procedure. Planning needs to be flexible in nature so that any change can be done if required by the organization. With the help of planning, an organization can exercise control over the action, i.
Definition of Strategy The strategy is a master game plan designed for achieving the objectives of an organization. It is a mix of competitive moves and actions made by the top level management for the accomplishment of goals successfully. They are dynamic and flexible in nature. Strategies are based on practical experiences, not on theoretical knowledge, i.
It requires deep analysis of the managers on any move or action, implementation timing, the sequence of actions, outcome, reactions of competitors, etc.
In the business world, corporate strategies are made for expansion and growth of the entities which include merger, diversification, divestment, acquisition and many other.
Moreover, the market scenario will take an unexpected turn any time with the blink of an eye and nothing lasts forever.
Therefore organization has to be ready for any such unpredictable changes as well as they must develop a strategy for overcoming from these situations.
So, the corporate strategy of the organization is a combination of pro-active and reactive strategies. Planning is anticipation and preparation in advance, for the uncertain future events.
The strategy is the best plan chosen among the various alternatives for the accomplishment of objectives. Planning is like a map for guidance while strategy is the path which takes you to your destination.
Strategy leads to planning and planning leads to programs. Planning is future oriented, whereas Strategy is action oriented. Planning takes assumptions, but Strategy is based on practical experiences. Planning can be for short term or long term depending upon the circumstances.
Unlike Strategy, which is for the long term. Planning is a part of the managerial process. Conversely, Strategy is a part of decision-making. Conclusion Planning is forethought of what is to be done in future, but Strategy is a blueprint of what you want to be and where you want to be.
Both Planning and Strategy are made by the top-level managers as they know the mission and vision of the organization clearly, so they will make their plans and strategies to take a step forward towards their mission and vision.
Planning is preventive in nature whereas Strategy is quite competitive but both aims at the optimum utilization of the scarce resources.iOS 12 tells you everything - well, almost everything - you need to know about your iPhone's battery. iOS 12 offers you much more information about your iPhone or iPad's battery than previously.
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The luxury strategy aims at creating the highest brand value and pricing power by leveraging all intangible elements of singularity- i.e.
time, heritage, country of origin, craftsmanship, man-made. iPhone Marketing Strategy Analysis - Course Work. iPhone Marketing Plan Market Summary the iPhone.
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katielips. Apple iPhone Marketing Plan. Uploaded by/5(9). Difference between business plan and business model The business model is the mechanism through which the company generates its profit while the business plan is a document presenting the company's strategy and expected financial performance for the years to come.
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