What is the difference between Plan and Strategy?

ComparloCategory: BusinessWhat is the difference between Plan and Strategy?
Karim MRabie asked 4 years ago

{“lhsI”:”Plan”,”rhsI”:”Strategy”}

1 Answers
Safa Khodeir answered 4 years ago

[{“cellsNumber”:1,”row”:”Introduction”,”lhsI”:”Plan%20and%20strategy%20are%20two%20vital%20concepts%20to%20all%20kinds%20of%20businesses%20ranging%20from%20startups%20to%20corporates%2C%20non%20profit%20to%20profit%20and%20governmental%20to%20non%20governmental%20organizations.%20%3Cbr%20/%3E%3Cbr%20/%3EFollowing%20the%20set%20plan%20and%20implementing%20the%20strategy%20are%20key%20factors%20to%20the%20business%20success.”,”rhsI”:””},{“cellsNumber”:2,”row”:”Definition”,”lhsI”:”The%20reason%20for%20existence%20of%20a%20business%20or%20an%20idea%2C%20providing%20a%20detailed%20layout%20to%20reach%20the%20desired%20target.”,”rhsI”:”The%20way%20forward%20and%20actions%20followed%20to%20achieve%20the%20set%20plan.%3Cbr%20/%3E%20A%20strategy%20is%20supplementary%20and%20vital%20to%20planning.”},{“cellsNumber”:2,”row”:”Difference”,”lhsI”:”A%20business%20plan%20remains%20fixed%20and%20timeless%20throughout%20the%20business%20journey.%20%3Cbr%20/%3EThe%20reason%20for%20existence%20should%20not%20change%20regardless%20of%20time%20and%20conditions.”,”rhsI”:”A%20strategy%20needs%20to%20be%20constantly%20editable%20and%20flexible%20to%20match%20changes%20in%20the%20surrounding%20circumstances.”},{“cellsNumber”:2,”row”:”Examples”,”lhsI”:”An%20online%20shopping%20business%20for%20ladies%20and%20kids%20clothes.%20%3Cbr%20/%3EPlan%20is%20to%20introduce%20products%20to%20the%20widest%20scale%20of%20customers%2C%20maximizing%20online%20sales%20to%20reach%20the%20set%20profit%20level.”,”rhsI”:”Strategy%20is%20to%20start%20with%20relatively%20low%20prices%20to%20compete%20with%20other%20online%20businesses%2C%20however%20the%20low%20price%20strategy%20remains%20editable%20to%20match%20with%20existing%20inflation%20as%20not%20to%20end%20up%20with%20a%20loss%20rather%20than%20a%20competitive%20edge.”}]

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