Before I discuss whether Strategic Planning is worthwhile for small firms or not, I would like to briefly explain what strategic planning is.
Various definitions of strategic planning have been offered in the literature. However, defining strategic planning remains a problem because it can be defined in many ways depending on the size and nature of the business. Planning does not seem to have clear definition of its own place in organisation. Strategic planning can be an intended course of action. Strategic planning can also be an approach to managing the organisation's future. …
