Question

Strategic planning as a broad concept consists of
​

Answer 1

Answer:

environmental analysis and internal analysis.

Answer 2

Strategic planning as a broad concept consists of strategy formulation and strategy implementation.

• Strategic planning refers to the process of developing defined business techniques, putting them into action, and analyzing the performance concerning a firm's corporate protracted objectives or expectations. Top management must devote significant planning and coordination to the company's strategy.
• A company uses strategy formulation to anticipate progress and enhance work strategies accordingly. Strategy formulation is essential to maximize and assess performance outcomes.

• The process of implementing the strategy made by the top management and making the best outcome from it is called Strategic Implementation. All the techniques and output are generated from a strategic move that has been authorized to proceed and putting the strategy into practice comes under strategic implementation.

#SPJ3