Chapter 1 - 5

Strategic business planning is important because it provides clarity, direction and focus for the organization and therefore, allows organizations to be proactive rather than reactive. It improves the organization’s management process and decision-making processes by enhancing allocative, operational, information and dynamic efficiency, including achieving sustainable competitive advantage. Other benefits include an increase in market share, profitability and business longevity. The following sections discuss the relevant theories and concepts relating to strategic business planning, including key concepts of the Unified Theory of Business Strategy and how the Levant program can help you to complete a strategic business plan successfully.