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Planning can be described as a formalization on what could happen in the future but that doesn't mean the activity would occur - it is a statement of intention. On the other hand, control is coping with any changes that may occur where plans may need to redrawn or redone. Hope this helps. JJ
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JordanA plan is basically "what to do" while a strategy is "how to do it" In business Strategy is the combination of thought and action for the purpose of succeeding in an operation. This consist of a concious, deliberate and informed mixture to act on a operation. Strategy is the projection of intelligence into the sphere of action.
Where as plan regroups the various steps used for the efficient execution of the strategy at various stages.
The strategy is
what you want to accomplish
The plan is how you will accomplish it, describing the steps, the timeline, roles and responsibilities.
Goal: Grow my business income.
Strategy: Gain more customers by increasing the number and type of products my business carries.
Plan: Expand our facilities in the current location and our capability to sell products on-line. (The plan will outline how that will be accomplished.)
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What are the five differences between the strategy formulation and strategy implementation?
The five differences between strategy formulation and strategy implementation are: 1. Strategy formulation is about making the right choices; strategy implementation is about taking the right actions. 2. We move from the theory to practice and from the conceptual to the physical which then translates it into tangible and measurable actions. 3. Strategy formulation is deciding what will give you a competitive advantage. Having a strategy is about knowing when to say "yes" and when to say "no". Its implementation guides your discussions, decisions and actions. 4. Strategy formulation is static. Strategy implementation is in motion. 5. And finally whatever you formulate in planning will never be executed as planned as "the best laid plans of mice and men never go according to plan."
What is the difference between strategy and planning?
The difference between strategy and planning is to plan, you brainstorm, write down what you want to happen, etc. A strategy is an exact step by step procedure you are going to follow.
What is the relationship beween business strategy and IT strategy?
The relationship between the business strategy and IT strategy is direct with the IT strategy being subordinate. The business strategy emerges from two sources. The main path is through the organization's mission, vision and current goals and objectives. The other path is through the enterprise risk management plan.The IT strategy consists of several component parts: a security plan, an application plan, an infrastructure plan and a resource plan made of a personnel plan and a funding plan.The relationship of the business strategy and the IT strategy is then between the enterprise risk management plan driving the IT security plan and the business goals and objectives driving the application plan (most often). From there the remaining elements of the IT strategy develop with the application plan and security plan driving the infrastructure plan (aka technology plan) which in turn drives the resource plan for funding and staffing including training requirements.IT Strategy:- Technology- Applications- Capabilities- GovernanceIT enabled Business Strategy:- Competitive advantage- Process Innovation- Operational Excellence- New Markets & Channels- IT capability must enable innovation and competitive business strategies, and deliver business efficiencies.Business Strategy:- It must drive the decisions and priorities for IT investment.Source: aperio-intelligence.com
What is the difference between strategy and tactics in a round of golf or is there a difference?
The tactics are each deliberate action you take. Your strategy is the combination of tactics and the overall plan to win.
What are the differences between strategies and tactics?
Strategy means 'a global plan to reach a long-term goal,' and is taken from a Greek word that means "army leadership".Tactics, on the other hand, means a short term plan or behavior and comes from a Greek word that means "science of arrangement" (of an army).Arbaz Pakistan
