Question

Explain why is it critical to evaluate the organizations strategic plan when developing a business plan?

Answer 1

It is critical to preserve the overall agency strategy in thoughts while growing the marketing strategy as that might help to price the goods and estimate the income and value of goods more appropriately. The company's business plan should have revenue and profitably forecast which is accurately estimated. So if the company's strategy is low margin and volume play, so the business plan should reflect that in higher sales number. On the other hand if it is more of a premium player, then also the high margins will get reflected in the business plan numbers. Hence the business idea or plan should be in line with the strategic objectives of the firm and its competitive standing in the market. Take for example HIS plan i.e. Health information system plan: It is the reflection of organizational strategic plan, the HIS and technology plan both from both business and clinical view. Moreover, HIS serves the purpose and enables the organization to complete the strategies according to its mission, vision and values. This strategic plan helps to guide about the annual goals, budgets and projects of the organization. Therefore, the strategic business plan is more important in Health care business enterprise to gain the mission, imaginative and prescient and fee of the company.