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Cost Management: A Strategic Emphasis 7th Edition by Edward Blocher,David Stout ,Paul Juras,Gary Cokins
Edition 7ISBN: 978-0077733773Cost Management: A Strategic Emphasis 7th Edition by Edward Blocher,David Stout ,Paul Juras,Gary Cokins
Edition 7ISBN: 978-0077733773 Exercise 2
What is the difference between strategy and planning
Explanation
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Strategy -
Strategy is a comprehensive plan which deals with using the available resources in a desirable manner to achieve the desired goals within a competitive environment. This involves forming a purpose and deciding a direction accordingly
A strategy is a focused plan, which is selected out of the different plans available to get the desired result, while a plan is a design of actions prepared for the future.
The basis for a strategy is practical implications, while a plan is based on underlying assumptions for future events.
A strategy is usually prepared for long term, while planning can be done for short term as well as long term basis.
Planning process usually involves thorough thinking of future considerations, while strategy process involves taking active actions for those considerations.
Strategy is a comprehensive plan which deals with using the available resources in a desirable manner to achieve the desired goals within a competitive environment. This involves forming a purpose and deciding a direction accordingly
A strategy is a focused plan, which is selected out of the different plans available to get the desired result, while a plan is a design of actions prepared for the future.
The basis for a strategy is practical implications, while a plan is based on underlying assumptions for future events.
A strategy is usually prepared for long term, while planning can be done for short term as well as long term basis.
Planning process usually involves thorough thinking of future considerations, while strategy process involves taking active actions for those considerations.
Cost Management: A Strategic Emphasis 7th Edition by Edward Blocher,David Stout ,Paul Juras,Gary Cokins
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