Strategic management and policy article review

Business strategic planning is a critical tool for defining the long-term and short-term goals and objectives as well as outlining the necessary guidelines to be followed in order to attain them. For instance, development of an organization's mission and vision statements depends on the business planning as well as the business strategy. Any organization developing a clear business strategy and plan can easily locate its future sustainability in the dynamic world as well as provide the business with the approaches of attaining future goals. Basically, strategic planning locates the exact level where the business will be in the future. A well-formulated business plan provides a comprehensive feedback on the organization's performance as well as the success of the management's decision-making process.