Review some of the resources concerning strategic planning and strategic management. Compare and contrast the two activities. How are outcomes measured?Strategic planning and strategic management

Review some of the resources concerning strategic planning and strategic management. Compare and contrast the two activities. How are outcomes measured?
The term “strategic planning” is used to describe the process of examining a company’s surroundings in order to create plans of action that boost the likelihood of success. The process involves developing the organization’s raison d’etre, long-term vision, and short-term targets. It also entails prioritizing tasks and bolstering operations. Strategic management, on the other hand, is the method by which a company plans for and implements its long-term goals and objectives  (George et al., 2019). It entails the implementation of deliberate measures used to accomplish intended results. The process of figuring out how a company plans to reach its objectives is an integral part of strategic management. One facet of strategic management is the formulation of well-defined plans for accomplishing set goals. Both aid in the development of a company when employed in tandem  (Kools et al., 2020).. There are many similarities between strategic planning and strategic management. In the first place, they hope to boost the success of a company in the long run. Organizational objectives are established through strategic planning, and strategic management puts those objectives into action (Bryson et al., 2018). Two, they are instruments of management for building thriving businesses. Managers rely on them to carry out their duties and advance the company’s mission.  Thirdly, they boost productivity and efficiency inside a company. They work together, and neither can be used well without the other. Therefore, they provide a similar function in different ways. The fourth way they’re put to use is in determining where an enterprise stands in the market by revealing its relative strengths and shortcomings. Cont…

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