ENTREPRENEURSHIP

Detailed explanation-1: -Strategic planning typically represents mid-to long-term goals with a life span of three to five years, though it can go longer. This is different than business planning, which typically focuses on short-term, tactical goals, such as how a budget is divided up.

Detailed explanation-2: -Strategic Planning Characteristics Many businesses develop strategic planning within a short-term, medium-term and long-term framework. Short-term usually involves processes that show results within a year. Companies aim medium-term plans at results that take several years to achieve.

Detailed explanation-3: -A lot of ideas and concepts come to mind when we talk about strategy. One of them is strategic planing or what most people consider as a long-term plan. We cannot say that is true nor we can say it is wrong. But a strategy is not just a long term plan.

Detailed explanation-4: -Visualize your ideal future. Before you create your goals, you have to decide what you want to achieve. Write SMART goals. Prioritize your goals. Break your long-term goals into short-term goals. Make a plan to track your progress. Be flexible. 27-Oct-2022