Difference Between Business Plan & Strategic Plan | Small Business - Chron.com

Difference Between Business Plan & Strategic Plan | Small Business - Chron.com: "William E Rothschild once said, “What do you want to achieve or avoid? The answers to this question are objectives. How will you go about achieving your desired results? The answer to this, you can call strategy.” These words provide a nearly exact description of the differences between the business plan and the strategic plan.
Business Plan
The business plan provides a written tour of your business’ operations. This plan identifies the business’ models, missions and objectives. It then takes the reader through the staffing, location, marketing and financing requirements that are needed to meet those objectives. The business plan examines the business’ potential for success, the competing industry and the business’ competitive advantages. In a detailed and organized manner, it reviews and explains every area of the business."

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