After reading this article you will learn about:- 1. Meaning of Strategic Planning 2. Features of Strategic Planning 3. Importance 4. Limitations. Meaning of Strategic Planning: Strategic planning means planning for making and implementing strategies to achieve organisational goals. It starts by asking oneself simple questions like : What are we doing, should we continue to do it or change [...]
After reading this article you will learn about the internal and external business environment. Internal Environment: Survival of a business depends upon its strengths and adaptability to the environment. The internal strengths represent its internal environment. It consists of financial, physical, human and technological resources. Financial resources represent financial strength of the company. Funds are allocated over activities that maximise [...]
After reading this article you will learn about the relationship between environment and business. Environment is closely related with business. There is a constant 'give and take' relationship between environment and business. The business receives inputs, information and technology from the environment and gives it back in the form of outputs (goods and services). If these outputs are accepted by [...]