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    Importance of strategic planning for different departments

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    What is the importance of the following functional areas to the strategic planning process: finance, marketing, accounting, production, and personnel.

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    Strategic management is about the planning of the direction and goals of the company in an overall way. These different areas are the areas that provide the means to reach those goals. Each plays an important part in the success of the company.

    Without the production there is no product or service. The product or service is the main reason there is a company and the main purpose of the company (beyond to make money). To not plan the products and services the company is going to offer, as is done in the strategic plan, the company would not know what materials and resources would be needed, what equipment is necessary to create the product/ service. So the production part of the plan addresses the goals for creating a ...

    Solution Summary

    A discussion on the reasons for strategic planning for different departments in a company. The importance of functional areas are determined.