New Development in Strategic Planning

The attention strategic planning has attracted in the recentyears is the proof that it is evidently used by successfulbusinesses. Executives and managers alike plan their businessobjectives and the goals in a strategic manner. Various factorssuch as competitors, market capture, consumer expectations, etchave to be studied in depth to take better decisions. Thusstrategic planning has gained importance. A strategic plan helpsthe business to reach their desired goals. It works like a routemap. It also increases the effectiveness of the business as itdeals in a time bound approach. Hence since the early 1960'sstrategic planning has grown to become one of the essentialtools to lead modern businesses towards their success.