FIN 370 Week 2 DQ 1

FIN 370 Week 2 DQ 1 - focuses the efforts on the final...

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Discussion Question(s) #1 Please reply to this thread by or before Wednesday, day 2 with your answers! How would you define strategic planning? What are some differences between strategic and financial planning? What financial problems might an organization encounter when implementing a strategic plan? How would you define strategic planning? Strategic planning is the process of determining a company's long-term goals and then identifying the best approach for achieving those goals. What are some differences between strategic and financial planning? Planning can help one see into the future of their business. Strategic planning provides the resources needed to keep your business moving forward on a daily basis. Financial planning
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Unformatted text preview: focuses the efforts on the final destination. Strategic planning without financial planning may keep a business running, but not necessarily in the right direction. What financial problems might an organization encounter when implementing a strategic plan? Financial efforts are usually directed at strategic planning development. Financial problems might arise for any number of reasons such as time restraints, budgeting, or just not enough finances. If the organization is already in debt then implementing a strategic plan may cause financial problems. Even promises to reduce financial troubles often cause more problems....
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