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Strategic Planning

What are the legal or ethical issues to consider when dealing with marketing plan and strategic marketing plan when they fit together?

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A Strategic Marketing Plan lets you know where you want your company to be next year - and five years from now. Finding the right group of people to help your Strategic marketing plan get you there is not always easy and absolutely essential for success. Every company designs strategic plans to achieve their set objectives and goals. These plans can be short, medium, or long-term, according to the size and scope of the company. It is very important that the company specifies accurately and carefully its mission. The mission is fundamental since it represents the operative functions that the company is going to perform in the market and supply to the consumers. For a company, it is very important to define its mission, and if they are carefully devised they are a source of success for the company. Revised missions have turned the destiny of many companies. The essence of strategic planning is the systematic identification of the opportunities and threats that will arise in the future, which, combined with other important data, supply the base for a company to make better decisions in the present to exploit opportunities and avoid dangers.

To correctly define Strategic Planning, it is necessary to consider four different points of view, each of which is necessary for its understanding:

THE FUTURE OF CURRENT DECISIONS: First, planning deals with the future of current decisions. This means that Strategic Planning observes the chain of consequences of causes and effects for some time, related with a real or intended decision that the Management will make. Strategic Planning also observes possible alternatives of future courses of action, and by choosing the alternatives; they turn into the base for making current decisions. The essence of Strategic Planning is the systematic identification of the opportunities and threats that will arise in the future, which, combined with other important data, supply the base for a company to make better decisions in the present to exploit opportunities and avoid dangers.

PROCESS: Second, Strategic Planning is a process that starts with setting organizational goals, it defines strategies and policies to achieve those goals, and it develops detailed plans to ensure the implantation of the strategies, thus reaching the desired aims. It is also a process to decide beforehand what kind of planning efforts shall be made, when, and how they shall be done, who will do them, and what will be done with the results. Strategic Planning is systematic in the sense that it is organized and conducted based on understood reality. For most of the companies, Strategic Planning represents a series of plans produced after a specific period of time, during which other plans are devised. It should also be understood as a continuous process, especially regarding the formulation of strategies, since changes in the business environment are continuous. The idea is not that plans shall be changed every day, but planning shall be performed continuously and be backed up by the appropriate actions when necessary.

PHILOSOPHY: Third, Strategic Planning is an attitude, a way of life; it requires dedication to act based on the observation of ...

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Define Strategic Planning

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