Why Planning and Strategy are Vital for Success in Every Field? What's the Differences Between Planning and Strategy ?
Abstract : Often times, the words “plan” and “strategy” are used interchangeably. The meanings of the words are quite similar: a method for achieving an end. But... Here’s the truth about their differences... There are strong differences between these words. A plan is an organized scheme created with a clear objective in mind. Conversely, a strategy functions as a flexible blueprint employed to achieve a particular goal, with the capacity for adaptation and change as needed. It’s important for a company to understand the difference between having a plan and having a strategy. This is because although they each have strengths and purposes, they aren’t necessarily interchangeable. The differences in types of industry, clients, and projects call for one method or another. Keywords: Planning, Strategy, SWOT, Financial, Tactical, Forecasting Future Learning Outcomes : After undergoing this article you will be able to understand the following 1. What's Planning? 2. What's