Similarities and differences of the strategic planning process in the management of private and public organizations

Copyright © 2023 the Author/s

Peer review method: Double-Blind

Accepted: June 12, 2023

Published: June 25, 2023

Original scientific article

DOI suffix: 10.36962/NEC18022023-59

Strategic planning is a process that involves defining an organization's direction, setting goals, and developing strategies to achieve those goals. It is an important process for any organization, as it helps to guide decision-making, allocate resources effectively, and ensure that all activities are aligned with the organization's mission and vision. Strategic planning is a crucial process for both public and private organizations, as it helps them to set goals, prioritize activities, allocate resources, and align their efforts with their mission and vision. While there are some differences between public and private organizations in terms of their goals, stakeholders, and decision-making processes, there are also many similarities in how they approach strategic planning.

It is a misconception that only large and multinational corporations need strategic planning. It is important to note that strategic planning is crucial for both private and public organizations. It also plays an important role in small business concepts.