DQ2A - outlining the requirements to get there, including...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
How would you define strategic planning? What are the differences between strategic and financial planning? What financial problems might an organization encounter when implementing their strategic plan? Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Strategic planning is essentially the "why" that drives an operation. Once it knows the "why ," it can figure out the "how" by
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: outlining the requirements to get there, including where to place financial resources, how to forecast human resource needs, and where to place investments, otherwise known as financial planning. In general usage, a financial plan can be a budget, a plan for spending and saving future income. Some of the financial problems that might occur when trying to implementing their strategic plan is that of their money may be lacking, budgeting may be needing improvement....
View Full Document

This note was uploaded on 04/11/2011 for the course FIN 370 taught by Professor Unknown during the Spring '08 term at University of Phoenix.

Ask a homework question - tutors are online