Strategic Planning versus Strategic Management

There is a contrast between strategic planning and strategic management as approaches to strategy formulation.

The rational planning model, originated by Ansoff starts from fixed objectives as a ‘top down cascade’ of defined step

Other names of Strategic Planning

Strategic planning is also called

 Top down approach
 Rational approach
 Formal approach
 Traditional approach

What Strategic Planning does:

 Strategy involves setting goals first and then designing strategies to reach them
 Some prediction of the future is possible
 Outcomes of strategic choices can be predicted and controlled
 Possible to separate the planning and selection of strategies from the implementation of strategies

Other names of Strategic Management

Strategic management is also called

 Emergent approach
 Bottom up approach

What Strategic Management does:

 Builds management team with right strategic skills
 Managers of divisions granted significant autonomy
 Empowerment of mangers to develop and adapt strategies as circumstance change and opportunities and threats arise

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