Why Strategic Planning is Essential

Strategic Planning is Essential
Owoyale, Samuel Olaniyi, Member
The approach to better business management start with a successful strategic plan.
A close review of the past activities is key to formulating the going forward strategic processes. When properly carried out, it brings to mind the relevance of most formulations, their usefulness and needfulness in meeting the business objectives and goals.
Strategic planning processes that do not allow complete freedom for the strategic business unit could be described as unproductive activity and should be discouraged.

Strategic Planning is Essential to Success
Mellacheruvu Adi Saasthry , SIG Leader
@James Roberts - It is indeed very important before any Business Unit embarks on some business to do proper strategic planning. Otherwise as you mentioned indeed it could easily end up in waste of time, money and resources.
A model I practice most and suggest is the Congruence Model, which clearly includes and guides every element of the organization.