Strategic planning models are what a blueprint is to construction. Strategy planning is of utmost importance as far as the long term business scenario is concerned. It provides a sense of direction through laying down objectives which come in handy for business decision making. It is up to the business to select and use models based on its needs and goals that had been set at the very start. One can determine which is best suited for the business and alter it when needed: 1. Basic Strategic Planning Model: This model is usually used by small businesses till the time they become fully established and as the name suggests, is used by new organisations with little experience of strategic planning. The first few steps in this process comprise of establishing your business goals and writing down the mission and vision statements. Then you identify the strategy that should…
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