One objective of an overall corporate strategy is to put the organization into a position to carry out its mission effectively and efficiently.
A good corporate strategy should integrate an organizations goals, policies, and action sequences (tactics) into a cohesive whole.
Solid marketing strategy is the foundation of a well-written marketing plan.
While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.
It is a written explanation of the company's business model.
Business plans are noted for often quickly becoming out of date.
One common belief within business circles is that the actual plan may have little value, but what is more important is the process of planning, through which the manager gains a greater understanding of the business and of the options available.
Specialized sections such as product research and development, legal strategies, marketing research, or inter-company collaborations, are added to deal with unique features or characteristics of the business or its markets.
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A business plan is a summary of how a business owner, manager, or entrepreneur intends to organize an entrepreneurial endeavor and implement activities necessary and sufficient for the venture to succeed.