Differences Between Strategic and Business Plans
Strategic and business plans are both vital parts of an organization’s success. These two key types of plans differ greatly. As a healthcare professional it is important to understand the difference between the two.
Differences between Strategic and Business Plans
Author’s Name
Institutional Affiliation
Course Code and Name
Professor’s Name
Date
Differences between Strategic and Business Plans
Table 1
Differences between Strategic and Business Plans
Strategic Plan 1 A strategic plan is deliberative effort to perform actions and make decisions that guide and shape an organization by determining what it is, things it does, and why (Bryson, Edwards, & Slyke, 2018). Business Plan In contrast, a business plan depicts how a firm will operate daily and the flow of money. 2 In addition, a strategic plan comprises a company’s description, executive summary, vision, value, mission statements, a SWOT analysis, an action plan, and description of business goals, strategic priorities, and corporate directions in achieving the set objectives. Besides, a business plan has an executive summary, vision, value, mission statements, an operating plan, a list of stakeholders, financial requirements, and a marketing and sales plan (Rajnoha et al., 2019). 3 A strategic plan defines the direction that an enterprise should follow to facilitate growth, and it determines resource allocation
π Other Visitors are Viewing These APA Essay Samples:
- Maternal, Infant and Child: Reducing Infant Deaths related to SIDS3 pages/β825 words | 5 Sources | APA | Health, Medicine, Nursing | Essay |
- Healthy People 20204 pages/β1100 words | APA | Health, Medicine, Nursing | Essay |
- Examples of Major Childhood Global Diseases2 pages/β550 words | APA | Health, Medicine, Nursing | Essay |
- Healthcare Acquired Infections (HAIs)7 pages/β1925 words | 18 Sources | APA | Health, Medicine, Nursing | Essay |
- wk-6-power. Group Psychotherapy. Health, Medicine, Nursing Essay2 pages/β550 words | APA | Health, Medicine, Nursing | Essay |
- Between Research and Practice in Nursing1 page/β275 words | APA | Health, Medicine, Nursing | Essay |
- Challenges Encountered and Learning Process on Dental Hygiene Clinic Class2 pages/β550 words | APA | Health, Medicine, Nursing | Essay |