Strategic Planning in the Small Business

(Ron) #1

STRATEGIC


PLANNING VS.


LONG'RANGE


PLANNING



  1. SP relies


more on identifying and


resolving issues, while


LRP focuses on specifying


goals and objectives


and


translating them


into budgets and


work programs.



  1. SP emphasizes


assessment of the


environment, where


LRP


assumes the current


trends will continue


into the future.



  1. SP planners


are more likely to pursue


an idea!ized vision


of the future and ask how best to achieve


this "vision",


where LRP planners


typically make linear


extrapolations


of the present.



  1. SP is more


action-oriented.


SP considers a


range of possible


futures


and works to


keep options open,


where LRP


assumes


a most


likely" scenario


and then works


backward to


map out


the sequence


of decisions and


actions necessary


to achieve


this


plan.

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