Business planning also known as strategic planning or long-range planning is a management-directed process that is intended to determine a desired future state for a business entity and to define ov?

Business planning, or strategic planning, is a structured approach that organizations use to set long-term goals and identify the necessary steps to achieve them. This process involves assessing current capabilities, market conditions, and potential challenges while envisioning a desired future state. By defining objectives and outlining strategies, businesses can align their resources and activities to effectively navigate towards their goals. Ultimately, it serves as a roadmap for growth and sustainability in a competitive landscape.