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Ask the Consultant
Strategic Plan Versus Business Plan
Question for the Consultant:
What is the difference between "strategic planning" and "developing a business plan"? Is there a difference? Is a business plan part of the overall strategic plan?
Response From GinCommGroup:
Excellent question.
There IS a difference between a business plan and a strategic plan. The strategic plan should lay out the future directions for the entire organization, defining what it wants to achieve in each of its defined goal areas. For some goal areas, the next step would be to develop a business plan, defining specifics.
For example, a strategic plan goal might be to provide cutting-edge technical education for members. The business plan would describe how this would happen, i.e., x number of seminars offered in y locations, market projections, costs, revenues, staffing implications, etc. The business plan puts the dollars and cents behind the strategic goal.
Thanks for visiting the site!
Ginger Nichols, CAE
GinCommGroup: Consulting & Training for Associations
http://www.gincomm.com mailto:gnichols@gincomm.com
Response to the Response:
Thanks for responding. I like the way you have distinguished the two. It really make sense to me. I think it will really help us in our upcoming planning exercise.
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