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Sir in the question 1.2 of bpp
Why can’t it be strategic planningThe word forthcoming is used. So definitely it needs to be a strategical planning sir
Please helpAll budgeting is planning for the future (I,e forthcoming). However this is planning for next year and so is not strategic planning which is planning for many years in the future.
Sir sir if they had mentioned 2 years then it can be concluded as a strategic planning and
If they had mentioned 1 year and 6 months ( as it is not many years ) then we consider as tactical planning?
My point is even if it is 1year and 11 months as long as it is not many years ( 2 or more years )
Then we call it as tactical planning
Correct sir ?
Strategic planning is long-term. There is no specific definition of ‘long-term’ but it is generally regarded as being plans for 5 to 10 years in the future.
Do watch my free lectures working through Chapter 1 of our free lecture notes, where I explain all of this.
The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well 🙂
Does that mean if a plan is taken
To open up a showroom in another 3 yearsIt’s regarded as tactical planning?
No.
As I wrote before there is no definition of ‘long-term’. Strategic planning is planning for a change of strategy for the business such as developing a new product or expanding the business. Unless they already has a strategy of always opening new showrooms, then this would be regarded as strategic planning.
Have you actually watched the free lectures??
Tactical planning is usually looking at the next one to two years and is implementing the strategic plans in the short to medium term. Budgeting for the next year is an example of tactical planning.
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